Role:

Stress Testing Risk & Control Manager

ST24 Business Function:

Enterprise Risk Management

Reports to:

Head of Stress Testing Control Management

Business Division:

Enterprise Wide

Purpose of the role:

Reporting to the Head of Stress Testing Control Management, the Stress Testing Risk & Control Manager is responsible for:

- Working in close collaboration with SMEs and Heads Of Stress Testing to build and implement effective end-to-end processes, governance & controls covering the full Stress Testing process, including controls assessment for data, assumptions, models, processes, reports and documentation.

- Supporting the embedding of a Stress Testing Centre of Excellence (COE) and driving the delivery of stress testing capability improvement initiatives.

- Management of work packages in the support of Regulatory framework changes relating to Stress Testing; ICAAP & Capital Analytics, working closely with Business and Senior Management to ensure fit for purposes design, clear roles & responsibilities, production of plans and management of communications amongst stakeholders.

- Interaction with key senior internal and external stakeholders to ensure that stress testing outcomes are justifiable and represent a consistent link to Banks strategy

Deliverables:

- Working in close collaboration with Business SME- s, design and enforce a stress test process and controls framework that:

Creates an optimal process flow that ensures that all cross functional dependencies are addressed and incorporate evidences controls checks throughout the full lifecycle of a stress test exercise (from scenario generation to execution, governance and closure).

Maximises the time available within each operational process

- Working in close collaboration with Internal Audit, design and embed a process structure for audit field work and regulatory attestations.

- Build up, baseline and live management of plans to manage and track internal stress test and regulatory stress test deliverables (e.g. Asset Quality Reviews, BoE and EBA stress tests). Initial scoping with SMEs, with accountability for base lining, sequencing and mapping of dependencies sitting with the control manager.

- Management of control checks throughout key points in the stress test cycle, owning and controlling supporting documentation with particular emphasis on auditable evidence and management of issues arising.

- Accountable for ensuring, via collaboration with PMO, that the overall process and controls frameworks have been followed appropriately

- Lead regular interaction with internal/external SME's (Regulator Supervisory Teams) on plans, issues and ad-hoc items.

- Lead Capability improvements, ownership of workstream delivery schedule/s, phasing; progress reports, issues logs.

- Manage the delivery of all capability improvement initiatives, including the control of all changes required to evolve the - end to end- process operating model.

- Produce assurance that processes and controls have been executed effectively and that any failures or identified issues have been assessed, understood and incorporated into stress testing results

Experience/ Qualifications:

Essential

- A deep understanding of stress testing end-to-end cycles and experience working with regulators and /or knowledge of regulatory requirements.

- Experience in people management with a strong ability to influence senior managers and external stakeholders

- Proven ability to multi-task, and engage cross-functional stakeholders and influence others.

- Highly developed communication and influencing skills.

- Controllership & workflow management experience.

- Excellent communication and interpersonal skills.

- Ability to influence and drive cross- functional progress.

- Exceptional organizational skills, highly detail oriented.

- Ability to plan, execute and deliver operational reviews under minimal supervision

- Ability to evaluate, test and report on the adequacy and effectiveness of the control environment.

- Proven experience in refining and enhancing processes to meet changing stakeholder needs

- Experience in analysing risks and proactively identifying the root-cause of issues with a view to providing recommendations for improvement where weaknesses are identified.

- Strong understanding or risk

- Knowledge of FDSF, CCAR or EBA stress testing methodologies

Desirable

- Membership of a relevant professional institute, e.g. Chartered Financial Analyst, Institute of Risk Management

- Membership of the Chartered Institute of Bankers

- Postgraduate business or management qualification e.g. MBA

- Knowledge of best practice and regulatory stress testing requirements

- Professional accounting qualification (ACA, ACCA or equivalent) or strong regulatory capital background

Other Significant Role Requirements:

- Management of audit field work.

- Lead engagement and influence of Senior Business and Function Heads (Risk and other); building relationships and extension to network (internal/external)

Scope of Role:

The Stress Testing P&C Manager may be expected to interface with the following stakeholders or parties:

- External Regulators (PRA/BoE & EBA/SSM)

- Senior Risk, Finance and Treasury stakeholders

- Franchise businesses

- Risk Governance

- Risk Transformation

- Internal Audit

Technical Knowledge:

- Deep understanding of Prince2/Lean/Audit Control concepts

- Deep understanding of Finance/Risk Management processes within complex business functions

People Management:

- N/A

Financial Management:

- N/A

Risk Management:

2nd Line of Defence

- Actively consider the inherent, material risks of the business/ organisation. They should analyse the risk profile and seek confirmation that the risks are being appropriately identified. Assessed and mitigated to the desirable level (Risk Appetite).

- Establish and deploy robust risk and control frameworks which meet the strategic needs of the group, including communication, training and awareness.

- Provide Expert support and advice to the business on risk management. This includes interpreting and complying with the risk policy standards and risk management framework.

- Conduct suitable assurance to ensure 1st line compliance with policies/ responsibilities.

- Provide senior executive with relevant management information and reports, escalate concerns where appropriate.

Conduct Risk

To be accountable for ensuring you understand, uphold and promote the Conduct risk standard pillars:

- Employee Conduct

- Corporate Conduct

- Market Conduct

- Conduct towards our customers

- Operating Disciplines and Controls: Establish and maintain operations, controls, risk assessments and assurance programmes, monitoring of risk and controls to identify, assess and manage any material risks which may arise.

- Risk Culture: Set the tone from the top by promoting appropriate business and risk aware behaviours and requiring compliance with all statutory and regulatory requirements and Bank Group policies

- Business Continuity: Ensure adequate Business Continuity plans are maintained and tested for Risk Substantiation and wider Enterprise Risk Management team.

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