Job Description

Applicants will have a deep knowledge and experience of control frameworks in large, complex banks and investment banks and the enterprise-wide governance, risk and compliance activities related to these frameworks. They will have experience of these areas and would engage with firms’ senior executives and external parties (e.g. regulators or auditors) about them.

The role is project based involving firm specific, cross-firm, or theme based reviews. Previous projects include thematic reviews of new product approval processes, trader mandates, algorithmic trading, and general trading controls.

The key elements of the role include:

• Leading and collaborating with VCT and TRD colleagues on firm specific, cross- firm or thematic reviews to assess firms’ trading risks controls, through detailed analysis of management information and on site meetings with firms' senior executives.
• Identifying and developing issues into meaningful outcomes and communicating and reporting them both to PRA and to firms' senior management.
• Analysing results of assessments and related governance implications for their applicability to an individual firms’ strategic direction, and its supervision by the PRA and the “read-across” to the broader financial services industry.
• Establishing and developing relationships within the PRA to facilitate knowledge sharing, teamwork and collaboration.
• Depending on the candidate's experience, responsibilities could also include evaluating P&L and valuation functions at the major investment banking firms.

Role Requirements

Minimum Criteria

• Experience of working in a control function to include either Internal Audit, Risk or Operational Risk Management, Middle Office, Trading, Finance or Product Control.
• Experience of the above gained at a bank; a consultancy or accounting practice or another regulator.
• Experience and in-depth understanding of trading and middle and back office functions, including front to back systems, processes and controls covering the product and trade lifecycle. For example, trade booking and support, trader supervision, operations, clearing and settlement, market risk, valuation and p&l control.
• Established record of successful, impactful project based work on trading risks and controls. Proven ability to interpret and synthesise large amounts of data quickly and reach informed judgments.

Essential Criteria

• Good knowledge of the UK financial system and global investment banking.
• Dynamic self-starter who is able to work on their own, take ownership and help drive projects to a successful completion.
• Good understanding of large investment banks’ overarching governance, risk and compliance processes.
• Strong communication and writing skills for reports and presentations to PRA and firm executives.
• Good understanding of relevant regulatory requirements and industry standards and practices. For example, the prudential policy framework for banks’ trading book.
• Strong interpersonal and influencing skills, and ability to build strong working relationships.
• Record of engaging with firms’ executives as well as external parties (such as non-executives, regulators or auditors).

Required Knowledge, Skills, and Abilities