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IFRS 9, Forecasting and Financials Oversight Manager

Bank of Ireland
Closing date
25 May 2022

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Contract Type
Full Time
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Description of business unit

As part of the Bank's three-lines-of-defence model, Credit Risk Oversight is an independent function within Credit Risk responsible for challenging the practices and management of credit risk.

The team strives to maintain a robust risk culture, in support of the Bank's strategic goals, by ensuring that the appropriate structures, systems, policies and controls are in place to provide effective management of Credit Risk.

The team independently coordinate, challenge and advise where appropriate the work of the Retail and Commercial Lending businesses andwider Credit teams in their execution of credit risk/business strategies, policies, controls, portfolio management, asset quality, stress testing and provision adequacy.

Purpose of the Role

Working with colleagues across multiple teams including the business, Prudential Risk, Finance and Group areas, the role holder will ensure that the financial aspects of credit risk are recognised within planning, forecasting, stress testing and impairment management. Specifically they will coordinate the ongoing adequacy of provisions across the UK Retail and Commercial portfolios. They will also engage with Group colleagues in Decision Science and Credit model owners to provide oversight on the performance and development of IFRS 9 models.

The role holder will also ensure that credit risks are adequately reflecting the annual ICAAP process by providing expert challenge and input on the business strategy, model forecasts, challenger approaches, supporting analysis and Hot Spots assessments.

As a member of Credit Oversight team, the role holder will also be encouraged to support other Oversight activities as appropriate, that include oversight of papers/recommendations to senior management/committees, production/review of policies, engagement with the regulators, involvement in the Credit Oversight Framework and other work required of the team.

Key Accountabilities
  • Provide oversight and assurance to the Chief Credit Officer that the forecasting of risk performance under base and stress economic environments is robust.
  • Support and challenge to forecasting and analysis regarding risk appetite adherence and loss forecasting.
  • Provide oversight that provisions for bad debts are adequate and accounted for appropriately.
  • Collaborate on monthly IFRS 9 performance for the businesses.
  • Provide assurance that risk and financial performance have been appropriately considered in business front-book and back-book strategies.
  • Engagement with Group, business teams and Credit teams on development of new, and performance of current, IFRS 9 and forecasting models.
  • Lead engagement with Prudential Risk, Finance and other key parties in relation to Credit Risk financials.
  • Support production of half-yearly committee papers on provision adequacy.
  • Responsibility for production of the impairment element of the annual ICAAP Stress Test report.
  • Regulatory return sign-off from the Credit risk perspective as required.

What is the opportunity?

The role provides the opportunity for the holder to play a key role in ensuring the Bank is protected against credit risks by assessing the adequacy of the IFRS 9 and stress test exercises work across all BOIUK products.

The role holder will also provide oversight for financial measurements influenced by credit risk, such as returns, to ensure the Bank is pricing for risk effectively.

As part of the Credit Risk Oversight team, the role holder will be involved in work that considers the credit risk implications of all stages of the product life-cycle for customers, from policy and pricing, to MI, models and collections.

Essential Qualifications


Essential Skills & Experience
  • Previous experience of Retail and Commercial credit risk management.
  • Proven Understanding of IFRS 9.
  • Solid working knowledge of Risk models, specifically Probabilities of Default, Loss Given Default and Exposure at Default and the construction of Expected Loss.
  • Excellent interpersonal skills!
  • Proficient in Report writing skills!

Key Competencies

  • Manage Risk - Self
  • Customer Focused - Self
  • Agile - Self
  • Accountable - Self
  • One Group, one team - Self

Where Agency assistance is required Bank of Ireland Recruitment Team will engage directly with suppliers. Unsolicited CVs / profiles supplied to Bank of Ireland by Recruitment Agencies will not be accepted for this role.

Bank of Ireland Group is an equal opportunities employer and is committed to fostering an inclusive workplace which values and benefits from the diversity of our workforce.
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