Ed, Head Portfolio Risk Management, Europe

6 days ago

London, Greater London, United Kingdom eFinancialCareers Full time

The Role Responsibilities

Key responsibility of the role holder is managing the Europe & Americas region as the Head of Portfolio Risk Management supporting the EA Treasury CRO as effectively the deputy for the function.

This means providing review and challenge and 2LOD Treasury Riskfor the largest balance sheet (UK Solo) as well as oversight of the key CCIB entities including the US, the Brexit entity as it grows (AG) and Jersey.

There is specific focus on management of Treasury Markets positions including oversight over CR01 and PV01and oversight of the investment portfolio.

The role will include policy development, framework review and relevant ALCO review and challenge particularly for the Europe and Americas region which encompasses the largest balance sheet of the Group.

The key responsibilities in this regard will includeReviewing and maintaining the Treasury Risk Type Framework; Proposing Treasury risk appetite, reviewing policies and monitoring compliance; as week as crucially reviewing various topics and papers from both GALCO and the Solo/SCB ALCO as well as other committeessuch as OBSF and the OPAC Forum.

The role requires strong stakeholder management skills given the Solo/SCB ALCO includes the CCIB Head, CPM Head and TB Head whereby Risk will need strong representation to manage and represent arguments to these stakeholderson a regular basis on behalf of Risk as a whole.

Strategy

  • Treasury CRO acts as the 2LOD to the Treasury function and performs a Risk advisory role to ensure the balance sheet across capital, liquidity and interest rate risk on the banking book is protected via risk management and review and challenge of 1LOD processesand provides recommendations to key committees and senior management. The role both partners with the 1LOD to provide a better risk outcome and optimisation of balance sheet/PnL whilst at the same time providing a strong 2LOD with independent objective recommendationsand staying close to PRA feedback in strengthening risk management and resilience for the Solo balance sheet.
  • Key objective to translate reviews into strategy recommendations into strategic Corporate plan changes (capital, funding, NII) and operational plans i.e. Solo funding initiatives.
  • Embed new frameworks, policies and MAT/limits particularly where they are not currently formalised. Drive systems development such as the IRRBB RCO implementation by guiding the strategic principles across TRM and Treasury.
  • TreasuryCRO principles are:
  • Best in class advisory to 1LOD for enhanced balance sheet resilience and optimisation
  • Strong and objective 2LOD risk management recommendations defendable to the MT, Board and PRA
Business

Align strategy of the Treasury CRO Risk function with business strategy (Treasury, CCIB, CPBB) and risk appetite and oversee its execution.


Leadership responsibilities across primary focus areas:

  • Liquidity
  • Challenge current liquidity risk footprint, encouraging new approaches, and enhanced frameworks for a safer and less expensive Solo balance sheet. This includes the management of stresses to withstand both market and name specific stress events.


 Funding
  • Enable the creation of a strategic funding plan in partnership with the first line, removing costly and more risky funding products and working with Treasury and FM/CPM to push for Term and Secured Funding solutions (OpCo MTN, Secured SPV vehicles,Repo transactions)


 Regulatory
  • Prudently oversee and review Solo regulatory metrics including, LCR, NSFR, Leverage, CET1 and Total Capital, calibrating risk appetite with the 1LOD and other key ratios alongside each country's local statutory requirements.


 Capital
  • Working with the 1LOD to establish BAU and stressed CET1 and leverage benchmarks and credible management action plans working with FM given the lack of trading management actions


 Risk Management/IRBB
  • Proactively manage interest rate risk hedging with the 1LOD, guiding them to better metrics and stable hedging programmes to both minimise inherent balance sheet volatility and to stabilise income.


 Treasury Markets
  • Review and challenge current TM 1LOD portfolio of HQLA/nonHQLA and shortterm interbank exposure, supporting regulatory requirements, managing surplus liquidity and balancing returns with risk appetite with particular focus on FVOCIrisk appetite.

Provide thought leadership on balance sheet, capital and liquidity management issues globally while working closely with Solo business and functional partners to deliver the Bank's objectivesresilience of the balance sheet as requested by the PRA.

This includesbenchmarking to peers and challenging current practices.
Processes

  • Manage and oversee the Risk Appetite process and calibration of Treasury BRA metrics as well as local MATS, ensuring we maintain a clear statement of risk appetite for all Treasury risk types.
  • Continuously improve the operational efficiencies and effectiveness of risk management processes across the EA region.
People and Talent

  • Lead through example and build the appropriate culture and values. Set appropriate tone and expectations from the team and work in collaboration with risk and control partners.
  • Bring different discipline types together given diverse and broad nature of role (capital risk, liquidity risk, Treasury Markets risk, IRRBB risk, Risk Appetite)
  • Ensure the provision of ongoing training and development of people, and ensure holders of all critical functions are suitably skilled and qualified for their roles such that they have effective supervision in place to mitigate any risks.
  • Employ, engage, develop and retain high quality people, with succession planning for critical roles.
  • Responsibility to review team structure/capacity plans.
  • Set and monitor job descriptions and objectives for direct reports and provide feedback and rewards in line with their performance against those responsibilities and objectives.

Risk Management - Continuously review the risk profile for the region and maintain alignment with risk appetite by rebalancing of risks or controls that may be required in response to internal and external factors.


  • Ensure that material risk exposures and related issues are reported to the responsible governance committees and to Group and businesslevel committees as appropriate.
  • Through assignment to direct reports, for regions and businesses under area of responsibility, ensure that adequate and appropriate systems, controls and procedures are in place. Adhere to Group and Business policies, procedures, standards and codes, includingthose governing all Risk types, Compliance, Technology and Operations, Finance and Reput

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