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For Companies At a Glance
- Tasks: Lead counterparty risk management and provide strategic oversight on financial risks.
- Company: Join PIC, dedicated to securing pensions for current and future policyholders.
- Benefits: Enjoy 28 days of leave, pension plans, and comprehensive insurance coverage.
- Why this job: Be part of a dynamic team influencing capital and risk management in a growing environment.
- Qualifications: Must have prior risk management experience and advanced qualifications like CFA or FIA.
- Other info: Opportunity to engage with senior management and shape the control environment.
The predicted salary is between 72000 - 100000 £ per year.
Role purpose
At PIC, our purpose is to pay the pensions of our current and future policyholders. The Risk Function plays a key role in this by providing advice and oversight of PIC’s decision making.
Within the Risk team, we have an exciting opportunity for an experienced risk professional to be responsible for counterparty risk. Through an enterprise approach, you will have a holistic view over the management of current and future financial risks.
Reporting to the Director of Investment and Counterparty Risk, you will collaborate effectively across the business to provide objective and timely advice, feedback, and opinions. You will apply your deep knowledge and understanding of Solvency II over investment management activities and counterparty and credit risks. Importantly, you will advise on how these risks impact our ability to deliver strong business outcomes relating to capital, risk management, the Company brand, and market reputation while achieving positive outcomes for all our stakeholders.
Key responsibilities
- Provide holistic oversight across the financial risks associated with the Matching Adjustment and Non-matching Adjustment portfolios.
- Lead and develop our people through an exciting period of growth.
- Own the related end-to-end Risk reporting through monitoring and development of forward-looking key risk indicators and risk management information aligned to PIC’s Risk Taxonomy. Ensure that our stakeholders, at all levels of PIC, receive the right level of information.
- Ensure exceptions are appropriately reported, monitored, and resolved.
- Proactively engage and manage a wide pool of key stakeholders to ensure risks are managed in line with our policies and the risk mandate.
- Advise the business in the continuous improvement of the control environment that supports PIC’s regulatory requirements. Support and facilitate changes to the control environment while providing clear risk views with objective evidence.
- Oversee counterparty credit assessment and management, including owning the limit framework and reporting.
- Actively engage across the Investment and Counterparty Risk, and broader Risk team to supplement Risk views of new or existing investments using your deep understanding of credit risk, including experience of Credit Rating Agency methodologies.
- Be able to flex and reprioritize workflow and resources to meet the demands of an evolving landscape.
- Provide assurance to senior management and the board on risk and controls through periodic deep dive reviews, investigations, and general oversight work.
- Oversee the Risk Control and Self-Assessment completion and continuous improvement for the risks owned within the Investment and Counterparty Risk team.
- Provide support to the business with managing day-to-day and new risks to ensure significant risks are properly identified and managed in line with PIC’s risk appetite, as well as giving general advice on good risk management in relation to credit and counterparty risk.
Person specification
Knowledge, experience, skills, and abilities (technical competencies)
- Prior experience in a risk management role in a relevant financial services entity (insurance, asset management, banking).
- Strong technical knowledge of credit risk, including counterparty risks, and ratings approaches and methodologies aligned to long-dated fixed income assets.
- Knowledge of business processes, standards, policies, and procedures within either an insurance company, asset manager, or bank.
- Familiarity with the UK regulatory environment, specific solvency regimes, and industry requirements.
Qualifications
- Advanced qualification reflective of a high degree of numeracy (FIA, CFA, ACA, CAIA, or similar).
Benefits
- 28 days’ annual leave plus bank holidays.
- Pension.
- Insurance for Travel, Private Medical, Critical Illness, Life Assurance, and Income Protection.
- Save As You Earn (SAYE).
And more.
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Head of Counterparty Risk and Enterprise Credit Management employer: PIC
Contact Detail:
PIC Recruiting Team
StudySmarter Expert Advice 🤫
We think this is how you could land Head of Counterparty Risk and Enterprise Credit Management
✨Tip Number 1
Make sure to showcase your deep understanding of Solvency II and its implications on investment management. Highlight any specific experiences where you've successfully navigated regulatory environments, as this will resonate well with the hiring team.
✨Tip Number 2
Network with professionals in the financial services sector, especially those with experience in risk management. Engaging with industry peers can provide insights into the role and may even lead to referrals that strengthen your application.
✨Tip Number 3
Prepare to discuss your experience with credit risk assessment and management in detail. Be ready to share examples of how you've applied credit rating agency methodologies in past roles, as this is a key aspect of the position.
✨Tip Number 4
Demonstrate your leadership skills by sharing instances where you've led teams through periods of change or growth. The ability to develop and guide others will be crucial for this role, so make sure to highlight relevant experiences.
We think you need these skills to ace Head of Counterparty Risk and Enterprise Credit Management
Some tips for your application 🫡
Understand the Role: Make sure to thoroughly read the job description and understand the key responsibilities and requirements. Tailor your application to highlight how your experience aligns with the specific needs of the role.
Highlight Relevant Experience: Emphasize your prior experience in risk management, particularly within financial services. Provide concrete examples of how you've managed credit risks and contributed to risk reporting in previous roles.
Showcase Technical Knowledge: Demonstrate your strong technical knowledge of credit risk and counterparty risks. Mention any relevant qualifications (like FIA, CFA, ACA, CAIA) and how they relate to the responsibilities outlined in the job description.
Tailor Your CV and Cover Letter: Customize your CV and cover letter to reflect the language and key terms used in the job description. This shows that you have a clear understanding of the role and are genuinely interested in the position.
How to prepare for a job interview at PIC
✨Showcase Your Risk Management Expertise
Be prepared to discuss your previous experience in risk management roles, particularly in financial services. Highlight specific examples where you successfully managed counterparty risks and how your actions positively impacted the organization.
✨Demonstrate Knowledge of Regulatory Frameworks
Familiarize yourself with the UK regulatory environment and Solvency II requirements. Be ready to explain how these regulations influence risk management practices and how you have navigated them in past roles.
✨Engage with Stakeholder Management
Prepare to discuss your approach to engaging with various stakeholders. Provide examples of how you have effectively communicated risk assessments and collaborated with different teams to enhance risk management processes.
✨Highlight Your Analytical Skills
Since the role requires a high degree of numeracy, be ready to showcase your analytical skills. Discuss any relevant qualifications (like FIA, CFA, ACA) and how they have equipped you to assess and manage financial risks effectively.
