IFRS 9 Credit Risk Specialist

1 week ago


London, Greater London, United Kingdom Alexander Mann Solutions (Contingent) Full time

On behalf of Tesco Bank, AMS are now looking for a Credit Risk Specialist to work in their team on a remote basis for an initial contract length that runs to October 2024 (candidates must be UK based for tax purposes).

Tesco Bank prides itself on their range of simple and convenient retail banking and insurance products designed specifically to meet the needs of Tesco customers. They believe that every little help makes a big difference, and by putting the customer first and rewarding their loyalty, they are offering something they believe every bank should.

Job description - the role

The IFRS 9 Credit Provisioning Specialist plays a critical role in ensuring compliance with International Financial Reporting Standard 9 (IFRS 9) guidelines related to credit risk provisioning and impairment. This position involves updating models, preparing documentation, and collaborating with stakeholders during Tesco Bank's transition with Barclays.

Key Responsibilities:

  • Model Enhancement: Enhance existing credit risk models to accurately reflect expected credit losses (ECL) under IFRS 9. Collaborate with quantitative analysts and data scientists to refine model inputs and assumptions.
  • Reporting: Generate regular reports on credit provisioning, impairment, and ECL for senior management and regulatory purposes.
  • Documentation: Prepare comprehensive documentation outlining the methodology, assumptions, and governance processes for credit provisioning. Ensure alignment with IFRS 9 requirements.
  • Stakeholder Engagement: Work closely with risk management, finance, and audit teams to communicate changes, address queries, and facilitate a smooth transition to the new provisioning framework.
  • Data Analysis: Analyse historical credit data, economic indicators, and portfolio performance to assess credit risk exposure and validate model outputs.
  • Policy Adherence: Ensure adherence to internal policies, external regulations, and industry best practices related to credit provisioning.

Qualifications and Skills:

  • Strong understanding of IFRS 9 requirements and credit risk management.
  • Proficiency in SAS and SQL.
  • Knowledge of all components of the ECL calculation.
  • Can interpret regulatory requirements from various regulatory bodies including but not limited to the
    EBA, PRA, FCA.
  • Excellent communication skills to convey complex concepts to diverse audiences.
  • Understanding of the basics of credit risk modelling and the testing and validation of these models.

About the client

Why Tesco Bank?

At Tesco Bank everyone is welcome, we value our people and diverse teams and believe the variety of backgrounds and experiences make us stronger in achieving our goals. It's important to us that we make sure you're supported by your team and colleague networks every day, celebrating when it matters and helping you to be the best version of yourself. The people make Tesco Bank, and we take pride in what we achieve together.

Next steps

If you are interested in applying for this position and meet the criteria outlined above, please click the link to apply and we will contact you with an update in due course.

Our client will only accept workers operating via an Umbrella or PAYE engagement model.

Please note that for the duration of this assignment you will be working as an external resource engaged by AMS.



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