Established in 1880, PFG is one of the UK's leading suppliers of personal credit products to the non-standard lending market. We are a FTSE 250 company that provide a portfolio of credit products designed to meet the particular needs of those who are not well serviced by mainstream lenders.
About the Role
We are recruiting for a Head of Balance Sheet Management who will be responsible for all aspects of interest rate risk and foreign exchange risk management within Provident Financial Group (Including Vanquis bank).
Reporting into our Group Treasurer, the role holder will lead a team in developing a best-in-class function that liaises closely with our finance and risk colleagues. It will deliver an effective risk management framework and develop effective commercial strategies that deliver enhanced value to the organisation.
Key Responsibilities Include:
- Combine capital management, interest rate risk management and overall ALM activities to create a balance sheet management team of the highest professional standards across the Group and its subsidiaries
- Design and implement ALM policies and activities to monitor and quantify balance sheet risks
- Design and implement policies, controls and processes to enable capital optimisation and to help ensure the appropriate allocation of costs to business lines
- Perform a key overall role in the Group's ICAAP process and overall capital management
- Develop the Group's Pillar 2A IRRBB assessment, leading in all relevant PRA matters.
- Establish behaviouralisation analysis capabilities to inform IRRBB risk appetite limit setting and monitoring
- Define the IRRBB stress testing approach and ensure the documentation of the policies, controls, processes and procedures across balance sheet management
- Drive the implementation of an ALM system to support the automation of analytical and monitoring activities and the production of MI
- Develop swap counterparty relationships and documentation (including ISDA / CSAs)
- Establish hedging capabilities
- Embed the pro-active management of the Bank's asset and liability risks within the Group's divisions.
- Model the Bank's ALM positions, providing strong MI to contribute to business and strategy decision, compliant with PRA and other relevant regulatory requirements
Experience and Capability:
- Highly experienced in all areas of BSM
- In depth knowledge and proven history of risk management and stress testing
- Proven experience in managing EaR, EVE, Economic Value and overall stress testing, with a sound practical understanding of different risk methodologies
- Proven experience in ICAAP development and documentation
- Experience within UK retail banking and a deep understanding of the regulatory framework for IRRBB
- Ability to work in a high-pressured environment, delivering practical solutions and dealing with ad-hoc requirements from start to delivery
- Ability to assess and interpret regulatory policy, and communicate impacts to their businesses, senior management and committees
- Ability to understand, analyse and assess impacts of upcoming changes to prudential regulation
- Able to manage tight deadlines and manage projects / stakeholders with multiple dependencies
Why choose a career with us?
We like to let our employees know that we appreciate their hard work by offering competitive salaries and a range of reward schemes as well as regular performance management reviews and appraisals so that you can monitor your career progress. Benefits include:
- 25 days annual holiday rising to 28 days
- Discretionary annual bonus
- Pension scheme with Company contributions
- Life assurance of up to 3x salary
- Private Medical Insurance
- Colleague â€˜Perks at Workâ€™ recognition schemes
Inclusion & Diversity statement
We know that by having a better, more inclusive culture and a diverse group of colleagues, we can support our customers and each other in the best way possible. We also believe this goes a long way to helping us live our purpose and defines why we are here in the first place: to help put people on a path to a better everyday life.
We are an equal opportunities employer and we want people to join us no matter how they identify, their sexual orientation, marital or civil partner status, race, colour, nationality, ethnic or national origin, religion or belief, disability or age.
We want to attract and retain the best people. So, we make sure that, if people need it, they are given all the extra support and reasonable adjustments to take part in any part of our application or interview process. We have also got lots of colleagues who choose to work flexibly, so please feel free to talk to us about how you prefer to work at any time.
We think that if you can be yourself in the workplace, you will do your best work and enjoy being part of the team. And as a business we get to benefit from that and to celebrate all the wonderful things that diversity brings.