Prudential Risk Manager

Location Durham/Remote
Contract Type Permanent
Hours Full time

We’re Atom…

The bank that’s leading the fintech charge.

We’re not like the rest. We’re true innovators, and we’re redefining what a bank should be. Ours is a bank for today and the future, a mobile-first bank. Forget the stuffy branches, with Atom you can bank whenever, wherever, faster and simpler.

Based in Durham, we’re committed to bringing world-class career opportunities and developing a strong tech culture in the North East. Our team currently has over 400 brilliant people and is still growing; could you be the next innovator to join us?

We’re looking for mindful, empathetic and self-aware people to join our teams in Durham and London and help us innovate and disrupt the market with our cutting-edge, digital banking solution.

What’s it all about?

The Risk team is made up of Operational Risk, Compliance, Financial Risk and Credit Risk. Our Money Laundering Reporting Officer also sits within this department. Risk is a crucial second line of defence for the bank - it has oversight of the risks associated with running the business and manages them effectively.

The Prudential Risk Manager is responsible for projects and activities supporting the Head of Financial Risk in effectively managing the Prudential Risk delivery of the firm. Key areas of activity include:

  • Review and challenge of stress testing to support the ICAAP, ILAAP, Recovery Plan and the Wind Down Plan
  • Leading 2LOD challenge to the business plan
  • Review and challenge the Bank’s ICAAP prepared in the 1st line, applying a critical review of inputs received
  • Review and challenge the Bank’s Recovery Plan
  • Review and challenge the Bank’s Wind Down Plan
  • Review and challenge the Bank’s Resolution Pack
  • Understanding solvency risks faced by the firm, driving consistent implementation of capital management policy, implementing appropriate metrics for measuring and monitoring solvency risk, tracking deviations from limits, assessing underlying drivers and identifying mitigating actions
  • Challenging the business plan and stress tests thereof, provide an input into setting the stress scenarios
  • Shaping the Bank’s risk appetite on prudential risk matters and co-ordinate the risk appetite setting and review process across all risk disciplines
  • Leading or co-ordinating the implementation of upstream regulatory change, monitoring the horizon and analysing impact in various scenarios, in co- operation with the Finance team as necessary
  • Providing input into regulatory engagement
  • Leading the firm’s response to regulatory consultations
  • Leading or supporting Atom’s engagement with industry bodies, such as UK Finance
  • Supporting the Bank’s application for initial A-IRB waiver, as well as its extension to new lending products and subsequently maintain a framework to ensure ongoing compliance with regulatory requirements
  • Engaging in strategic business development/key change management initiatives to ensure that prudential risk exposure is fully considered and addressed
  • Helping Atom and the Risk function to prepare for IPO
  • Providing oversight and challenge on regulatory returns, with particular focus on those related to capital
  • Maintaining the Financial Risk assurance framework and lead assurance activities
  • Contributing to 2nd line validation of financial and treasury models, as part of the in-house validation programme
  • Acting as a key member of the Financial Risk or the broader Risk function supporting and participating in a high-performance team, back-fill as necessary, where appropriate and fitting help out in other areas of the Risk function and/or of the Bank.

What will your typical day look like? Different that’s for sure…

As the Prudential Risk Manager at Atom bank, your responsibilities will include;

  • Reviewing and challenging the ICAAP Document and all key inputs and methodologies.
  • Reviewing and challenging the Recovery Plan.
  • Reviewing and challenging the Bank’s Wind Down Plan
  • Reviewing and challenging the Resolution Pack.
  • Oversight and challenge of financial plans (BAU and stress)
  • Developing and maintaining the risk appetite framework and statement, coordinating with other risk and business owners.
  • Coordinate the reporting of risk appetite metrics to governance committees.
  • Developing and maintaining Capital Management Policy and monitor capital adequacy against regulatory minima and Board approved risk appetite.
  • Providing critical scrutiny of capital and pricing models arising from Finance.
  • Providing input to the Assets and Liabilities Committee (ALCO), Executive Risk Committee (ERC) and Board Risk Committee (BRC), and MI to the Board.
  • Scanning the regulatory change horizon, assess impact on Atom, engage in consultations directly or through industry bodies as appropriate and oversee implementation.
  • Providing oversight of new product development, ensuring that prudential risks are understood and are factored into plans.
  • Providing oversight and assurance of prudential regulatory returns.
  • Contributing to the Bank’s annual report and Pillar 3 disclosures.
  • Building and maintaining close working relationships with Finance while maintaining independence.

What do we need from you?

  • Substantial experience in retail banking industry, including demonstrated success in a similar role or otherwise ready to step up to equivalent role.
  • Familiarity with financial planning cycles and practices.
  • Detailed knowledge of Basel/CRR regulatory frameworks and best practices in compliance.
  • Prior experience in dealing with regulators, whether directly or indirectly.
  • Prior experience with presenting to Executive and Board committees.

Skills:

  • Strong written English.
  • Strong analytical and problem-solving skills and demonstrable ability to work independently.
  • Ability to manage across multiple competing priorities without compromising on quality of outcomes.
  • Strong attention to detail.
  • Good business acumen, including the ability to assess risk and appropriate levels of return.

What would we ideally like from you?

  • Degree in finance, economics or mathematics preferred.
  • Experience with multiple UK firms’ ICAAPs and other regulatory documents.
  • Experience in a prudential role in an A-IRB firm, or even better if in one that went through A-IRB application.
  • Experience at a regulatory body or consultancy looking out for relevant topics is an advantage.
  • Prior experience in Financial Planning and Analysis.
  • Financial modelling capabilities.
  • Risk management qualification (e.g. GARP, PRMIA), Finance qualification (e.g. CFA) or Treasury (CertBALM or ACT) advantageous.
  • Excellent interpersonal skills.
  • Strong PowerPoint skills.
  • Experience with Financial Planning models is an advantage.
  • Experience with model risk management and/or validation and testing.
  • Excellent communication skills, with the ability to translate complex technical issues for a variety of audiences.
  • Strong project leadership and influencing skills at all levels..

What’s in it for you?

  • 4 day working week
  • Competitive Salary
  • Annual Share Option - performance related
  • Incredibly generous company pension scheme (maximum of 13% of Atom input - candidate can put in more)
  • ‘All About Me’ fund: £200 per year to spend on personal development
  • 25 days holiday + 8 statutory days (rising by half a day with every year in the company)
  • Private Medical Insurance for you and full family
  • Health Cash Plan - expenses paid on Optical/Dental/other appointments/treatments
  • Life Insurance - 4 times annual salary
  • Critical illness cover - 1 x lump sum annual salary
  • Cycle to work Scheme
  • Continuous development - professional qualifications
  • Challenging and exciting working environment

PLEASE NOTE: You must have the legal right to work in the UK to apply for this role as Atom bank are unable to support Visa Applications/Sponsorship. All roles within Atom must adhere to the Conduct Rules as set out by the Prudential Regulation Authority (PRA) and Financial Conduct Authority (FCA).