Prudential Market Risk Manager

About PwC

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We are a community of solvers in 157 countries combining human ingenuity, experience and technology innovation to help our clients (some of the most successful organisations on the globe) measure, protect and enhance the things that matter most to them.

Market risk at PwC

At PwC, we are part of a growing market risk assurance and advisory team within our market-leading Banking Prudential regulatory team. Our growth is underpinned by a strong market demand, as market risk is one of the most challenging risk calculations and a key area of focus for clients who need to navigate complex new regulations introduced as part of the Basel 3 reforms, such as the fundamental review of the trading book (‘FRTB’). FRTB is a significant step-change for firms, across both Risk and Finance and this effort requires a significant re-thinking of how firms operate, including how data is used across functions.

Market risk is a term that covers a range of activities aimed at identifying, assessing, monitoring and reporting market risks based on different sets of metrics, whether for internal purposes or for external submission as part of the wider prudential supervision of the financial sector.

From global systemically important banks (‘G-SIB’) to Tier 2 or ‘boutique’ investment firms with active trading activities, we help firms across the industry by providing technical and practical advice related to market risk, informed by our industry and regulatory insights gathered from the combined experiences of ex-practitioners from a wide spectrum of firms and ex-regulators.

The role

As part of a fast-paced and dynamic group, a successful Manager will work with a diverse range of well-known clients across the financial services sector and actively collaborate with senior team members to identify and pursue business development opportunities.

Specific responsibilities include, but are not limited to, the following client delivery and business development activities.

• You will be an active member of the engagement team. Depending on the scale and complexity of the engagement, you will co-lead or lead the delivery of engagements or workstreams. This includes taking ownership of all aspects of the lifecycle of a project, from client acceptance to completion, including monitoring of the project’s commercial performance and quality control.
• You will identify the impact of prudential regulatory changes and support clients to implement the relevant changes required for them to remain compliant with the letter and the spirit of the applicable regulations.
• You will assess the client’s operations, interpretations, design and implementation against industry practice, applicable market risk standards and regulatory expectations. To achieve this, you will be supported by a strong team of subject matter experts.
• You should have, or be willing to develop, a specialism where you will become a ‘subject matter expert’ within one or several market risk topics. This will give you the opportunity to engage in technical debates internally and with clients, to help them solve complex problems.
• You will support senior team members in the development of our market risk proposition through marketing and sales activities (e.g. client surveys and roadshows, external publications, etc). This will include your active participation in our voice in the market activities and thought leadership to support our brand positioning and further define our strategy.
• You will collaborate with data scientists and technology developers to support the development of, and embed in our engagements the use of, technology tools and digital assets relevant for our market risk proposition. This is critical to our competitive advantage.
• You will proactively develop and nurture relationships with clients and internally across PwC.

Your skills

Essential skills

• Strong understanding of one or several market risk methodologies used for risk management and / or for the calculations of regulatory capital, including both standardised (SBM, DRC, RRAO) and internal model approaches (ES, NMRF, PLA tests / backtesting).
• Excellent knowledge of the market risk regulatory and reporting environment as it relates to banking and capital markets, particularly with respect to EU and UK regulation and its strategic impact on firms, and a strong ability to anticipate and absorb emerging market risk trends.
• Deep understanding of the Basel 3 reforms and their impact on market risk requirements.
• Relevant experience in Financial Services, whether in industry or in consulting.
• Strong written and verbal communication skills.

Preferred skills

• Data analysis and visualisation skills, comfortable working with large sets of data in Excel, Alteryx and/or Tableau.
• Previous experience in a relevant team working on market risk measurement and monitoring (whether economic or regulatory), risk governance (including regulatory expectations for scope extensions and changes), or model applications and ongoing senior manager regime attestations (whether for the internal model approach or models underpinning standardised approaches).
• Experience with governance and risk management frameworks and systems and controls supporting prudential regulatory requirements.

Risk
Risk is all around us and in our complex world, is changing all the time. Our teams bring people from diverse backgrounds together, using their skills and cutting-edge technology, to help solve complex problems. We are pioneers in a world of changing risk and our market leading services build resilient organisations. Join us and together, we can support our clients to rethink risk.

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Application support
If you’re a person with a disability, if you’re neurodivergent, or if you have a condition that you believe may affect your performance during our selection process, we’ll be happy to make reasonable adjustments to our processes for you. Learn more.