Credit Risk Pillar 1 Regulatory Capital Manager

Credit risk at PwC:

We are part of a large credit risk assurance and advisory team within our market-leading Banking Prudential regulatory team. Our growth is underpinned by a strong market demand for credit risk management, regulatory compliance and model risk management services.

The prudential regulatory regime continues to evolve with developments such as CRD V and Basel 3.1, 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 3.1 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 with extensive consulting and industry experience, helping our clients solve their complex business issues from strategy, implementation of regulatory change, regulatory gap analysis, remediation of compliance gaps, and responding to regulatory developments.

• Specific responsibilities include but are not limited to:

• Being a member of and leading teams on small and mid-sized 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; review, implementation and/or remediation relating to regulatory reporting and associated governance and control frameworks; model 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:

• 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 five to seven years’ experience in financial services prudential requirements. Less-experienced candidates 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

• Strong relationship management skills as well as experience in managing teams.

• 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 requirements. We need individuals with skills in a combination of the following:

• Good level of understanding of the end-to-end credit life cycle for retail and/or wholesale banks, associated policies, procedures, controls and governance

• Good level of understanding of regulatory requirements for IRB – knowledge of models is not essential but is considered beneficial

• Deep technical experience and expertise in existing and future regulation (i.e. Basel 3.1) 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
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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