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Director, Prudential Risk (Contract)

OakNorth Bank
Closing date
26 Jun 2022

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Contract Type
Full Time
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Mission: To assure the processes to manage capital and liquidity in order to ensure that they are effective in managing the Bank's risk, and fully compliant with Regulatory expectations Reports to: Senior Director, Prudential Risk and Credit Quality Assurance Outcomes This is a key senior role in the 'second line of defence' of the Bank which exists to deliver vital outcomes in prudential risk oversight and challenge. You are responsible for providing independent, effective and proportionate 'second line' assurance of prudential risk in order to protect the assets, reputation, and sustainability of the bank, and delivery of the related V2MOMs. Your role is to provide consistent, independent, and documented assessments of the effectiveness of prudential risk management, i.e. assurance that capital and liquidity is being managed effectively and in accordance with Regulatory expectations Deliverables:
    • Represent the 'second line' Risk function in ALCO and other internal committees to give independent input to key decisions and ensure compliance. Ensure that the 'first line' appropriately manages prudential risks including the identification, assessment, measurement, review, monitoring and reporting of risks and issues
    • Review and assure key regulatory documents including ILAAP and ICAAP, including review of stress-testing
    • Oversee adherence to internal policies and controls to ensure consistency with regulatory requirements, with particular reference to those relating to capital and liquidity.
    • Oversee the design of risk appetite metrics for monitoring liquidity and capital and monitor their application. To include capital, liquidity, IRRBB, and basis risk.
    • Support prudential regulation Horizon scanning and assist the 'first line' in its interpretation
    • Oversee and assure the management of climate risk
    • Oversee and assure the management of model risk and organise the Model Risk Management Committee
    • Oversee and assure the management of provisioning, and organise the Reserve Adequacy Committee
    • Also accountable for managing the respective portions of the overall Risk Management Framework and Risk Register
    • Maintain the annual update of the Banks' Recovery and Resolution Plans.
      • Energy, pace, and strong work ethic. Able to effectively manage and prioritise a substantial workload (Momentum)
      • Commitment to excellence (10x)
      • Ability to partner with stakeholders in different parts of the business (One Team)
      • Strong analytical, numerical and problem-solving skills
      • Analytical skills, able to analyse complex issues in a methodical and structured way with appropriate attention to detail. Ability to interpret regulatory documents
      • Sound judgement to ensure that risk/compliance has a business focus and ensure the approach is always proportionate and pragmatic.
      • Logical thinking, ability to get to the simplest answer as opposed to a convoluted one, and an approach to risk management which is proportionate (Challenge &Simplify)
      • Confidence to be able to challenge the 'first line' business and to apply influencing skills, and to hold fast to risk principles and standards. To do so firmly but not aggressively to achieve a good, co-operative working relationship (Trusted Partner)
      Job Specific In-depth knowledge of the technical aspects of risk management in the financial services sector in prudential risk and regulatory areas, gained within banks and/or the Regulators, and in particular the ICAAP and ILAAP frameworks Experience in prudential risk regulation specialisms (ILAAP, ICAAP) Experience in liquidity and capital reporting Knowledge of ALM models Knowledge of Credit models would be an advantage About UsWe're OakNorth Bank and we embolden entrepreneurs to realise their ambitions, understand their markets, and apply data intelligence to everyday decisions to scale successfully at pace. Banking should be barrier-free. It's a belief at our very core, inspired by our entrepreneurial spirit, driven by the unmet financial needs of millions, and delivered by our data-driven tools. And for those who love helping businesses thrive? Our savings accounts help diversify the high street and create new jobs, all while earning savers some of the highest interest on the market. But we go beyond finance, to empower our people, encourage professional growth and create an environment where everyone can thrive. We strive to create an inclusive and diverse workplace where people can be themselves and succeed. Our story OakNorth Bank was built on the foundations of frustrations with old-school banking. In 2005, when our founders tried to get capital for their data analytics company, the computer said 'no'. Unfortunately, all major banks in the UK were using the same computer - and it was broken. Why was it so difficult for a profitable business with impressive cashflow, retained clients, and clear commercial success to get a loan? The industry was backward-looking and too focused on historic financials, rather than future potential. So, what if there was a bank, founded by entrepreneurs, for entrepreneurs? One that offered a dramatically better borrowing experience for businesses? No more what ifs, OakNorth Bank exists. For more information regarding our Privacy Policy and practices, please visit: London /OakNorth Bank - Risk & Compliance /
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