SCUK Risk Controller - Motor Finance

SCUK Risk Controller – Motor Finance

Country: United Kingdom

Santander Consumer Finance UK (SCUK) is based in Redhill, Surrey and provides motor finance to a network of car dealerships throughout the United Kingdom.

We are looking for a Risk Controller to be under the executive responsibility of the CEO but to be responsible to the CRO for the control and management of various risk types such a 2 Line of Defence “2 LoD”.

This role will also be assisting and where necessary deputising for the CRO to carry out their responsibilities for overseeing, management and control of the risks, ensuring that risks are managed in conformity with the of Santander Consumer (UK) Plc risk appetite Statement “RAS” level approved by the Board of Directors of Santander Consumer (UK) Plc. Thus enabling at all times an integral vision of all the risks identified in the risk map of the risk framework, which includes the identification and monitoring of the risks, and their impact on the risk profile of Santander Consumer (UK) plc.

Please note this role is a hybrid role with at least 3 days a week in the Redhill office. Remote workers will not be considered.

Responsibilities will include:

• Lead a team of circa 8 to be responsible for the 2 LoD.
• Lead the team to be high performing and drive culture in line with the company values
• Provides leadership in Group’s mutual success in accordance with the SCUK risk policies and UK regulation
• Promote a strong risk culture and awareness at the entity covering all the risk types including laws, regulations, and industry trends affecting the area
• Ensure the adequacy and robustness of systems, processes and instruments required by the risk function. Ensure the quality and integrity of the information used in risk-related activities
• Have access to all lines of business and legal entities that could generate risks, and pay special attention to identifying emerging risks, risk concentrations, or other situations and patterns that could require specific attention and analysis under the RAS and Risk frameworks approved by the SCUK Board
• Ensure the adequacy and robustness of systems, processes and instruments required by the risk function. Ensure the quality and integrity of the information used in risk-related activities
• Constant monitoring of the risk appetite and risk policies to assure the consistency of these documents with the business plan and with the Board’s risk profile
• Act as the lead for SCUK’s Climate Risk work with Group and SanUK, ensuring Target Operating Models and reporting requirements are adhered to and implementing relevant governance
• Assuring that all material risks incurred by SCUK are correctly identified, measured and under control both in the short and medium term.
• Understands the Consumer Duty landscape and promotes ‘Treating Customers Fairly’ principles
• Model Risk (Owner) – to mitigate the risk that the predictions produced by the models maybe inaccurate, causing the business to make sub-optimal decisions, or that a model is used inappropriately
• Independently validate material models and methodologies
• Market Risk – To oversee and monitor structural and liquidity risk management, verifying systematically that the risk exposure complies with the established objectives and limits
• Capital Risk – Oversight of the following responsibilities, control and validation of every matter related to Capital (RWA, securitizations, SRT, Risk Appetite), attendance at the Capital Forum, SRT forum, and input into the BAU year budget and P exercises in liaison with Finance team
• Lead and manage the monthly credit risk reporting cycle including risk budget & limits plan, forecast and month end actuals for management and regulatory purposes
• Liaise with local risk organizations, controlling, finance and HQ to effectively formulate, align and communicate reporting needs and results
• Leading the setting and monitoring of medium- and long-term portfolio credit risk objectives in cooperation with business units (P2X exercise and Budgeting process)
• Seeks to understand individual development needs and implements coaching programmes
• Demonstrates an awareness and understanding of the main risks facing business area and their role in managing them
• Secure and anticipate risk compliance in accordance with the bank’s standards, methodology and regulatory requirements
• Define, and obtain agreement for risk frameworks, risk appetite, lower-level triggers and
• thresholds, policies and other controls
• Ensure Business and Business Support Units manage risk in line with the agreed risk frameworks, risk appetite, lower-level triggers and thresholds, policies and other controls.
• Lead the periodic use of the Regulator’s stress testing and scenario analysis to inform and assess the Santander UK and Santander Group´s resilience with respect to its business objectives, risk exposures risk appetite statement, and expected credit losses including climate scenarios
• Oversee the PRA Annual Cyclical Scenario Stress Test and periodic Santander UK ICAAP scenarios (Global). Oversee the ILAAP annual assessment
• Measure and monitor risk exposures and profiles, and generate risk management information for CRO, senior management and committees
• Identify, influence, promote, and lead exchange of best practices across products and business units, which will improve the overall Risk Management practices and financial results
• Deal with or escalate any identified risks in relation to Santander Consumer risk policies and/or legislative and regulatory guidelines in accordance with the Santander UK group risk framework Identify, assess and report risks, breaches of risk appetite, lower-level triggers and thresholds and ensure appropriate remedial actions are in place and progressing to plan
• Maintain appropriate MI and Risk KPIs reporting system
• Chair monthly Provisions Sub-Committee and escalate any material issues to the Executive Risk Committee
• Adhering to our commitment to Consumer Duty ensuring we put our customers’ needs first and set higher and clearer standards of consumer protection

What we’re looking for:

• Previous experience as a Risk Controller in a Financial Services Company, ideally Motor Finance
• Solid experience and regarded as expert and source of risk management excellence within their area of responsibility (Risk Control, Model Risk, Market Risk EWR
• Identifies, assesses, manages and reports risks within own business area and across Santander UK and Santander Group (I AM RISK)
• Promotes and embeds risk awareness within area of responsibility and wider organisation
• Shapes risk frameworks and/ policies using external knowledge and benchmarking
• Takes strategic view of link between data management and organisational performance
• Demonstrates awareness and understanding of Auto business strategy and model and translates vision into priorities and direction
• Critically challenges and analyses business propositions to help other Areas to explore opportunities and generate initiatives
• Demonstrates the ability to assess the effectiveness of Santander’s arrangements to deliver effective governance, oversight and controls in the business and oversees changes when required
• Ensures new business opportunities reflect appropriate governance and regulatory control
• Understands customer landscape and importance of new Conduct and Compliance UK regulation paying special attention to good customer outcome treating customers fairly
• Previous demonstrable experience in leading a high performing team
• Previous experience in driving culture and leading by example
• Previous experience in managing budgets – especially forecasting and actuals
• Analytical capability to analyze and assess data, identifying trends and articulating findings in conclusions and potential recommendations to senior management
• Ability to multitask while quickly adapting to changing priorities and demands
• High level and proven proficiency in Excel/VBA, and preferably SQL/SAS/SPSS/Business Objects/R/Matlab
• Understanding of the consumer finance products credit cycle
• Regulatory knowledge will be a plus, especially regarding CRR/CRD IV and IRB credit risk principles
• Model risk management
• IFRS9 provision methodology knowledge
• Stress Testing model

We have a range of benefits available which include:

• Competitive salary of £110 – 120 dependent on experience
• 30 days holiday per annum, plus bank holidays
• Annual bonus based on personal and company performance
• Car allowance
• Private medical cover
• Generous pension contributions
• Employee assistance programme
• Sharesave scheme
• Gym passes at a reduced rate for 3,000 gyms, leisure centres etc

Inclusion

At Santander we’re creating a thriving workplace where all colleagues feel they belong and are supported to succeed. We all help to make Santander a workplace that celebrates diversity and attracts, retains and develops the most talented and committed people through living our values of Simple, Personal, and Fair.

At Santander Consumer Finance we have a zero-tolerance approach to discrimination, bullying, harassment (including sexual) or victimisation of any kind.

Should you want to be considered for part time hours, please let us know and we can assess your requirements.

What are the next steps:

If you are interested in this role and believe you have the skills, experience, and knowledge then we’d love to hear from you. Please go ahead and click apply which will take you through some questions and allow you to submit your CV and covering letter.

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