To provide managerial leadership and strategic direction to the Market Risk Support Division, through the effective and efficient monitoring of market risk throughout the industry and provide expertise in support of other divisions in order to encourage consistency in institutional and industry-wide supervision, regulatory development, supervisory practice development, and specialist risk training and thus contribute to financial stability.
The successful candidate will be responsible for the following key performance areas:
• To provide managerial leadership, strategic direction and thought leadership in the development, implementation, and monitoring of the Market Risk Division’s operational plan aligned to the overall Prudential Authority (PA) strategy.
• To provide support to frontline supervision staff on the management and monitoring of market risk to which banks, insurance companies and financial market infrastructures (financial institutions) are exposed, which requires market risk specialists to:
• contribute to risk-based meetings;
• conduct thematic risk reviews across financial institutions;
• provide input into the supervisory plan based on a cyclical/risk-based approach; and
• assist in the development and interpretation of prudential standards, regulations and guidance notes in specialist risk areas.
• To contribute to the development and continuous refinements of a supervisory approach for financial institutions taking into consideration current, emerging market risks, prevalent systemically and within supervised entity specifically.
• To ensure the maintenance of permanent records and correspondence of supervised entities and groups within the PA.
• ensure frontline and risk staff are adequately trained in market specialist regulations and supervisory techniques.
• To comply with the decision-making framework, protocols and procedures.
• To manage the performance and development of direct reports, create a performance culture in the division, and promote and support career management and development.
To be considered for this position, candidates must be in possession of:
• A minimum of post-graduate degree in Financial Risk/Investment Management/Finance/ Accounting/ Mathematics/ Statistics
• A minimum of 10-12 years’ experience in the Banking/ Financial sector OR Financial Risk Management environment, with at least three five (5) years in a management role
• General management
• Banking and insurance industries
• Risk management practices and standards
• Basel, IAIS and IOSCO principles and standards
• Relevant legislation
Job-related skills and attributes:
• Problem solving and analysis
• Planning and organising
• Verbal and written communication
• Financial and business acumen
• Attention to detail