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    Head of Treasury Market Risk

    London | Starling Bank Limited

    Job Details
    Category: Banking & Financial Services
    Posted Today

    Hello, we're Starling. We built a new kind of bank because we knew technology had the power to help people save, spend and manage their money in a new and transformative way. We're a fully licensed UK bank with the culture and spirit of a fast-moving, disruptive tech company. We're a bank, but better: fairer, easier to use and designed to demystify money for everyone. We employ more than 2,500 people across our London, Southampton, Cardiff and Manchester offices.

    To support our ongoing growth we're looking to recruit a Head of Treasury Market Risk within the 2nd line risk function reporting to the Head of Treasury Risk. The role will primarily cover the oversight and challenge of IRRBB with the opportunity to also provide oversight and challenge of FX risk.

    Role Purpose

    Your primary responsibilities will include but not be limited to:

    • Establishing strong relationships with the treasury function, and provide effective oversight and challenge of market risk models:
    • The measurement, management and monitoring of IRRBB;
    • Stress testing in these areas;
    • Models used by the treasury function to calculate IRRBB risk including key assumptions used in models. E.g. fair value calculations of hedged and hedging items.
    • Other responsibilities include oversight and challenge of:
      • Management information on IRRBB/FX;
      • Proposals that come to ALCo;
      • The control framework around IRRBB;
      • The ICAAP, Recovery Plan, Solvent Wind-down Plan and Resolution Assessment Framework documents from an IRRBB and market risk perspective.
      • Developing the reporting and analytics pertaining to the assessment of, and recommendations on IRRBB risk management issues.
      • Ensuring that IRRBB reporting meets internal requirements and policies, as well as regulatory requirements.
      • Reviewing the accuracy of measurement and reporting of IRRBB through undertaking model validation of interest rate risk models.
      • Developing challenger models where appropriate.
      • Carrying out market risk scenario analysis.
      • Preparing policy drafts for Risk, ALCo and Board reviews and approvals, as appropriate.
      • Reviewing limit structures and amounts, ensure these support the current and strategic needs of the organisation.
      • Carrying out ad hoc analysis to obtain a deep understanding of the key IRRBB risks facing the bank.
      • Construct datasets required for independent Risk modelling.
      • Reviewing strategic initiatives and consider the impact on market risk and IRRBB.
      • Undertaking assurance reviews, including on the appropriateness of risk controls, quality and accuracy of reporting and implementation of risk appetite and policies.
      • Undertaking horizon scanning of new regulatory requirements and consideration of the impacts on the Bank.

    Starling is an innovator in many ways, including how it approaches Treasury related modelling of the risks it runs. As such the successful candidate must have the following:

    • An ability to be able to lead and influence and provide challenge and oversight model design. Ability to promptly resolve model development and methodology related technical issues. Must be able to manage the first line effectively during the consultation phase, any planning and model development process.
    • Experience of model validation and model build for general interest rate risk.
    • At least 5 years experience working on interest rate risk management in a bank.
    • A thorough understanding of vanilla interest rate swaps and how they are used to hedge various elements of interest rate risk.
    • An ability to recognise the differences between a fair value view of a banking book and a simple accrual-based approach.

    The successful candidate will also have most of the following:

    • Experience of hedge accounting.
    • A good understanding of the foreign exchange market, both for spot and forward foreign exchange products.
    • Knowledge of regulations relevant to IRRBB and market risk and understanding of prudential regulatory developments.
    • SQL, MS Office (including VBA) and python skills.
    • Flexible and adaptable; must be able to juggle multiple competing priorities whilst managing expectations.
    • Self starter; proactive attitude, committed to continuous improvement and willing to drive different initiatives in a changing environment.
    • Strong stakeholder management skills and a track record of building senior level relationships.
    • Strong influencing skills and an ability to manage change and react quickly with a view.
    • Excellent interpersonal skills including the ability to challenge in a positive manner and handle difficult situations.
    • Excellent decision making, planning and prioritising skills.
    • 25 days holiday (plus take your public holiday allowance whenever works best for you)
    • An extra day's holiday for your birthday
    • Annual leave is increased with length of service, and you can choose to buy or sell up to five extra days off
    • 16 hours paid volunteering time a year
    • Salary sacrifice, company enhanced pension scheme
    • Life insurance at 4x your salary & group income protection
    • Private Medical Insurance with VitalityHealth including mental health support and cancer care. Partner benefits include discounts with Waitrose, Mr&Mrs Smith and Peloton
    • Generous family-friendly policies
    • Incentivised refer a friend scheme
    • Perkbox membership giving access to retail discounts, a wellness platform for physical and mental health, and weekly free and boosted perks
    • Access to initiatives like Cycle to Work, Salary Sacrificed Gym partnerships and Electric Vehicle (EV) leasing

    About Us

    You may be put off applying for a role because you don't tick every box. Forget that! While we can't accommodate every flexible working request, we're always open to discussion. So, if you're excited about working with us, but aren't sure if you're 100% there yet, get in touch anyway.

    We're on a mission to radically reshape banking - and that starts with our brilliant team. Whatever came before, we're proud to bring together people of all backgrounds and experiences who love working together to solve problems.

    Starling Bank is an equal opportunity employer, and we're proud of our ongoing efforts to foster diversity & inclusion in the workplace. Individuals seeking employment at Starling Bank are considered without regard to race, religion, national origin, age, sex, gender, gender identity, gender expression, sexual orientation, marital status, medical condition, ancestry, physical or mental disability, military or veteran status, or any other characteristic protected by applicable law.

    By submitting your application, you agree that Starling Bank may collect your personal data for recruiting and related purposes. Our Privacy Notice explains what personal information we may process, where we may process your personal information, its purposes for processing your personal information, and the rights you can exercise over our use of your personal information.

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