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Prudential Market Risk Manager

Employer
PwC
Location
London (Central)
Salary
Competitive
Closing date
18 Feb 2023

View more

Salary band
Competitive
Contract type
Permanent
Hours
Full Time
Where will they be working?
Hybrid - mostly office
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Job Details

About PwC


At PwC, our purpose is to build trust in society and solve important problems. It is this focus which informs the services we provide and the decisions we make.
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.


Not the role for you?
Did you know PwC offers flexible career arrangements and contract work? Learn more.

The skills we look for
The PwC Professional is our global framework for defining and encouraging leadership at all levels. Learn more.

The Deal
‘The Deal’, our firmwide Employee Value Proposition’ empowers our people to be the best they can be. Learn more.

Our commitment to you
We’re committed to building a culture that empowers all of our people to thrive and feel a sense of belonging at PwC. Learn more.

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.

Company

Our values define how we do things. And our purpose is why we exist - now more than ever - to build trust in society and solve important problems for our clients and our communities. In a world we no longer recognise, we need to rely on the strength and agility of our people to help us to navigate these uncertain times.

We're committed to ensuring that care and our people's wellbeing remains central to our culture. While we may not know what’s ahead, we can do all we can to help shape the future. As we continue to navigate this unprecedented time, it’s important that we support our people, to help them take care of themselves and to ensure the right support is available when it’s needed.

For now, we ask you to join our talent network and stay in touch with what’s happening in real time, including new possibilities as they arise. Visit our website for more information on how we’re responding to this pandemic and what changes we’re making to our recruitment process. 

Stay safe and stay connected in this rapidly changing world.

PwC

Opportunities are at the heart of a career with us.   Opportunities for you to sharpen your skills, collaborate with experts, build lasting relationships and make an impact in a place where people, quality and value mean everything.

Our offer to you...

·         Be part of the world’s leading professional services network and enjoy the benefits that come with that.

·         Meet and collaborate with highly talented people from diverse backgrounds, developing new ways of thinking, creating value for you, for PwC and for our clients.

·         Work in a challenging and stimulating environment where you’ll be inspired to reach your full potential.

·         Identify and develop your skills, build on your existing strengths and discover new ones you didn’t know you had. Watch your expertise and influence grow with us.

 

The PwC deal

No matter which area of the business you choose to join, all offer the same deal.  The opportunity to grow as an individual, to meet new people, and build lasting relationships that will stay with you for life.  All whilst making an impact in a place where people, quality, and value, mean everything.  Your hard work will be rewarded with a competitive salary and a personally tailored benefits package.

 

What you need to bring to us

Your intellect, willingness to learn, ability to build relationships, put yourself in others’ shoes, while always making a positive impact with our clients and each other.

The skills, insights and connections you develop at PwC are career defining wherever your career may take you. It’s the opportunity of a lifetime. Take it.

 

 

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