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Prudential Risk and Regulatory Consultant, Credit Risk

Posted: 18 Nov 2020 Closes: 18 Dec 2020
London, London Region UK Competitive
Permanent & Full-time -1785194181

Job description

About the role

The prudential regulatory regime continues to evolve with developments such as CRDV and 'Basel IV' in addition to the challenges for firms arising from wider market developments. In particular, a number of firms with large mortgage books are likely to be impacted under the Basel IV rules and are therefore considering migrating from the standardised approach to the Internal Ratings Based ('IRB') approach. Furthermore, a number of material regulatory changes have been introduced by the European regulators and the Prudential Regulation Authority ('PRA') for firms that already have an IRB Permission in place. These developments present challenges for firms both for ongoing compliance, and from a more strategic perspective. Firms need technical and practical advice on regulatory compliance in relation to credit risk, impact analysis of the new regulatory changes, support in adapting to these challenges and assessing the impact of the wider prudential reform agenda whilst meeting 'business as usual' regulatory expectations.

We are looking for candidates who have detailed regulatory technical knowledge and experience, including the associated technical rules and guidance, in Pillar 1 credit risk regulatory capital requirements under the standardised and the IRB approaches.

Responsibilities

As a Manager, you'll work as part of a team of with extensive consulting and industry experience, helping our clients solve their complex business issues from strategy, assurance over regulatory reporting, remediation and responding to regulatory developments.

Specific responsibilities include but are not limited to:
  • Being a member of and leading teams on large and small engagements - working as part of a project team on client sites and day-to-day liaison with clients
  • Identifying the impact of prudential regulatory change and supporting clients to adapt to the challenges a new regulatory landscape presents
  • Working on projects relating to various components of Pillar 1 credit including requirements under the standardised approach, IRB implementation and remediation, regulatory gap assessments, annual IRB self-assessments and regulatory reporting, and associated governance and controls, risk management frameworks, policies and procedures, risk measurement, monitoring and reporting
  • Preparing regulatory analysis and reports
  • Supporting senior team members through the development of marketing and sales activities
  • Relationship building and networking with clients and internally across PwC
  • Providing input to the debate on development and application of regulation and participating in PwC's Thought Leadership

Essential skills

  • Educated to degree level or equivalent
  • Good written, numerical and verbal communication skills.
  • Knowledge and experience of at least one of retail, commercial, wholesale and/or investment banking sectors.
  • At least four to seven years' experience in financial services prudential requirements. Candidates with lesser experience will be considered at the Senior Associate level.
  • Hands on experience in relation to IRB - either from an implementation standpoint or in a review capacity
  • Good relationship management skills as well as experience in project management and/or managing small teams/individuals.
  • Experience of problem solving and being able to implement and deliver solutions tailored to a client's needs.
The technical skills we are looking for are specific to Pillar 1 credit risk capital requirements. We need individuals with skills in a combination of the following:
  • Detailed understanding of the end to end credit life cycle for retail and/or wholesale banks, associated policies, procedures, controls and governance.
  • Hands-on experience of IRB and the Standardised approach
  • Detailed understanding of regulatory requirements for IRB - knowledge of models is not essential but is considered beneficial.
  • Technical experience and expertise in existing and future regulation in relation to credit risk and IRB
  • Understanding of model risk management and model governance in the context of IRB models
  • Understanding of the COREP and other PRA prudential regulatory reporting requirements and associated governance and controls frameworks (relating to credit risk), as applicable
  • An ability to understand, interpret and communicate complex regulation
  • Experience with governance and risk management frameworks and systems and controls supporting prudential regulatory requirements
Risk Assurance

We're a leading provider of trust in the digital world - in the eyes of our people, our clients and our stakeholders. Today's business environment is different. More complex. More connected. Companies not only face new and unknown risks, but also new and untapped opportunities. Our team is at the forefront of this change, join us to be a part of transforming how risk is perceived and capitalised on.
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All our people need to demonstrate the skills and behaviours that support us in delivering our business strategy. This is important to the work we do for our business, and our clients. These skills and behaviours make up our global leadership framework, 'The PwC Professional' and are made up of five core attributes; whole leadership, technical capabilities, business acumen, global acumen and relationships.

Learn more here: www.pwc.com/uk/careers/experienced/apply
Diversity

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We work in a changing world which offers great opportunities for people with diverse backgrounds and experiences. We seek to attract and employ the best people from the widest talent pool because creating value through diversity is what makes us strong as a business, enabling us to solve important problems and deliver value to our clients. We encourage an inclusive culture where people can be themselves, are valued for their strengths and are empowered to be the best they can be. As an organisation with an increasingly agile workforce, we also support different ways of working offering flexible working arrangements. Learn more here about our work to support an inclusive culture.

www.pwc.com/uk/diversity

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