Senior Stress Testing Manager in London

Based in the Model Development team within the Risk & Compliance function, the Senior Stress Testing Modelling Manager will develop, monitor and maintain optimised models for credit risk and capital purposes, coordinating effort across the Credit Risk and Finance functions of the organisation. The role will work closely on a daily basis with the Finance team, taking responsibility for undertaking stress testing (ICAAP Pillar 2A and 2B model development and execution), impairment forecasting and macro‑economic timeseries modelling (using linear and non‑linear regression techniques). The individual will also support monthly team‑wide objectives such as the execution of the Bank’s IFRS 9 models and the development of second and third generation IFRS 9 models. The working pattern of this role is hybrid, with an expectation to be in the London office 50% of the time.

Key Responsibilities

• Lead the re‑development, enhancement, documentation and execution of the Bank’s Pillar 2A Credit Risk and Pillar 2B stress testing models for the annual planning and stress testing cycles.
• Provide insight and recommendations on key outputs from the process to aid the front‑line business in understanding their overall risk profile and drive strategic objectives in line with PRA best practice guidelines.
• Work with colleagues in Finance and lead on documenting the relevant sections (P2A credit and P2B) of the Bank’s ICAAP.
• Provide strong line management and ongoing development of Stress Testing Modelling Analyst.
• Identify and implement model changes and enhancements as needed, ensuring they are in line with Bank standards, Model Risk Management (validation) findings and regulatory compliance requirements.
• Support the team’s ongoing IFRS 9 expected losses activities (BAU execution, model monitoring, model development and annual validations).
• Maintenance and continuous improvement of an appropriate data structure to deliver efficient and effective model risk management.
• Develop and maintain strong, collaborative and constructive relationships with the 1st Line businesses and functions to support the delivery of business objectives whilst maintaining effective controls.
• Understand internal and external data, infrastructure and reporting requirements and coordinate these with effective analytical solutions.
• Develop a deep understanding of core systems including contributing towards the development and roll‑out of a Group Data Warehouse.
• Maintain an awareness of alternative modelling techniques that can help to alleviate/identify risk.
• Provide support to the broader Risk and Compliance function where required.

Key Skills & Experience

• A strong understanding of Credit Risk with extensive relevant experience in developing Credit Risk Models, including data extraction and pre‑processing.
• Extensive model development experience (transition matrix approaches, time‑series modelling, OLS linear and logistic regression).
• Experience with user acceptance testing and model performance assessment (monitoring).
• Significant experience in undertaking stress testing and forecasting exercises.
• Thorough understanding of IFRS 9 model requirements and development experience.
• Strong mathematical and statistical background, knowledge of statistical modelling techniques.
• Significant experience of using SQL & SAS (macros, arrays, scoring/simulation engines, non‑linear modelling, partial least squares, time‑series modelling).
• Excellent written and presentational skills.
• Experience of data mining skills.
• Strong planning and organising skills.
• Strong insight and proven ability to summarise succinctly.
• Proven influencing and stakeholder management skills.
• Evidence of balanced and independent judgement.
• Ability to drive change.

Benefits

• Competitive remuneration.
• Discretionary annual bonus.
• Private Medical Insurance (Bupa).
• Pension scheme – 8% employer contribution (non‑contributory).
• Mental health & wellbeing support via YuLife & Bupa.
• 25 days annual leave (increasing with service) + Holiday Buy Scheme.
• Cycle to Work Scheme & Green Car Scheme.
• Enhanced family leave policies.
• Study support & professional membership.
• Hybrid working (50% London office, 50% remote).
• YuLife Rewards – discounts on retail, lifestyle & experiences.
• Interest‑free season ticket loan.
• Annual volunteering day & Net Zero employer commitment.