Job Title: Prudential Risk Manager
Reporting to: Chief Risk Officer
Job Purpose
The purpose of the role is to support the Chief Risk Officer to ensure that the organization has an effective Risk Management Framework in place, with a particular focus on Prudential Risk. The role will act as a subject matter expert within the Second Line of Defence on all Credit and Financial Risk related areas to support the delivery of the Second Line Monitoring Plan.
Main Duties and ResponsibilitiesResponsibilities will include:

• Assisting with ensuring that effective Enterprise Risk Management is taking place and that both the Risk Management Framework and Risk Appetite Framework are embedded within the organization.
• Providing Second Line review and challenge of key prudential regulatory documents including the ILAAP and ICAAP. This will include a review and challenge of the calculations and modelling used for liquidity stress testing and assumptions for determining capital requirements.
• Providing Second Line review and challenge of Recovery Planning, including a review of the modelling of recovery capacity, recovery options, recovery indicators, and their impact on various stressed scenarios.
• Providing Second Line challenge regarding updates to the Lending Policy and Financial Risk Management Policy, ensuring that the cumulative impact of all changes is understood.
• Assisting with the production of Credit Risk reporting, Financial Risk reporting, Key Risk Indicator reporting, and Recovery Plan reporting.
• Assessing business performance against Risk Appetites.
• Producing reports for various committees.
• Performing regular Second Line reviews of key models used by the organization.
• Assisting with regulatory horizon scanning to ensure that regulatory changes and developments are captured and assessed on a timely basis.
• Assisting the wider Governance, Risk & Compliance team in performing tests on the effectiveness of key controls (particularly from a prudential risk perspective).
• Providing oversight of the Risk Event Log and Risk Registers, ensuring effective root-cause analysis and risk and control self-assessments.
• Ensuring effective horizon scanning within the organization covering economic, market, and technological aspects.
• Undertaking Second Line reviews of capital, liquidity returns, and other relevant reports to Regulators.
• Reviewing and challenging assumptions regarding affordability assessments for all areas of lending.
• Reviewing the loan book to understand asset quality and appropriateness of probabilities of default used across the Credit Risk Framework.
• Undertaking Second Line reviews of the Credit Risk Framework, including the credit lifecycle.
• Conducting regular file reviews to ensure that lending aligns with the Lending Policy and that criteria exceptions are monitored and understood.
• Leading analysis of the organization’s Credit Risk portfolios to enable robust day-to-day challenge of the First Line of Defence to protect against unexpected financial shocks.
• Reviewing Credit Risk management information and conducting thematic reviews into niche areas of lending.
• Undertaking Second Line reviews of the Treasury Risk/Asset & Liability Management (including funding, liquidity, counterparty risk, market risk, hedging, treasury operational risk).
• Partnering with the business to ensure that the First Line of Defence appropriately manages Prudential Risks, including the identification, assessment, measurement, review, monitoring, and reporting of risks.
• Maintaining strong awareness of the economic climate and regulatory environment.
• Acting as an enabler for the business to better understand and manage its risk profile, providing advice and challenge to the First Line of Defence through impactful and influential engagement.
• Along with the wider Governance, Risk & Compliance team, ensuring a strong risk culture across the organization.
• Assisting the wider Governance, Risk & Compliance Team where required