Head of Financial Risk & Model Oversight

BELONG. There’s no place like Principality. 

Our home is your home. So, when you decide to join the team, we’ll go further to bring you the warmest of welcomes. From a friendly and inviting environment to a flexible benefit package designed around you – when it comes to belonging, there really is no place like Principality. We keep it flexible wherever possible; we encourage you to look after yourself; we do our bit in the communities we serve and support you in doing the same, and we promise to get better together.  

Some reasons you may want to consider working with us; we have an award-winning flexible/hybrid working policy, we’re a 2022 winner of UK Best Large Workplaces for Women, we have a newly refurbished hi-tech office in the centre of Cardiff designed around colleague feedback, we ranked number 6 for wellbeing in 2022,  we have an extensive financial and well-being benefits package ‘’Belong’’ designed to put our people first, we have consistent colleague engagement scores of over 85% and a caring community of supportive Networks. But that’s not all, discover why there’s really no place like Principality; https://www.principality.co.uk/careers 

We are hiring into our Risk directorate a Head of Financial Risk and Model Oversight. This role will be reporting directly to our Chief Risk Officer.

As our Head of Financial Risk and Model Oversight you will be responsible for leading the Financial Risk and Model Risk team, overseeing the modelling, monitoring and reporting of the Group’s Interest Rate Risk (IRRBB), Liquidity Risk, Financial Risk and Treasury Risks.  You will be a subject matter expert in relation to Financial Risks and Model Risk Management.

Key Responsibilities: 

• Create and oversee a robust Model Risk Management Framework in line with Regulatory Requirements relating to Model Risk management.
• Lead the Society’s validation of credit risk models to ensure, through use of qualitative and quantitative tools.
• Oversee the delivery of all recurring regulatory requirements, such as the IRB model annual review and CRR self-assessments.
• Review and recommend the Society’s treasury and financial risk appetite and tolerances
• Identify and oversee the critical evaluation of emerging regulatory requirements and external risks.

You will have experience in:  

• Evaluating predictive models built using multivariate logistical regression
• Model Risk Management and developing Regulatory compliant frameworks
• Reviewing and challenging of ICAAP, ILAAP, RRP
• Experience of contributing to senior committees and engaging with Board members
• Leading highly technical teams
• Developing a model risk policy

*This is a pivotal role for us so we will be screening applications as we received them which could mean the role closes before the current advertised date. * 

‘’We are passionate about creating an inclusive workplace where diversity is celebrated and where colleagues feel a sense of belonging’’ Daniel Priest, Inclusion Manager. But don’t just take our word for it, see what our colleagues say about working here too; Careers (principality.co.uk)