Head of Treasury Risk

1 month ago

Southampton, United Kingdom Starling Bank Full time

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 3,000 people across our London, Southampton, Cardiff and Manchester offices.

We’re looking to recruit a Head of Treasury Risk within the 2nd line risk function reporting to the Director of Financial Risk. The role covers the oversight and challenge of Market Risk, predominantly Interest Rate Risk in the Banking Book (IRRBB) but also FX and credit spread risk. The role will also provide broader oversight of the Bank’s hedging activities and Treasury operations. It will work closely with the Head of Liquidity Risk, Wholesale Credit Risk and Treasury Compliance colleagues to take a holistic view of the risks across the Bank’s Treasury function. 

Please note this role will require regular travel to our London Office.

It will be hands-on with senior exposure.  This role represents a fantastic opportunity to join a vibrant institution and to shape the Bank’s approach to managing risks from Treasury activities.

Your responsibilities will include but not be limited to:

  • Establishing strong relationships with the Treasurer, and provide effective oversight and challenge of:
  • Market risk (IRRBB, FX and credit spread risk)
  • Stress testing of market risk exposures 
  • Key assumptions used in models. E.g of behavioural assumptions 
  • Management information and proposals that come to ALCO
  • The control framework around market risk
  • The bank’s hedging strategy, assumptions, controls and resulting exposures 
  • Hedge accounting and hedge effectiveness 
  • Regulatory reporting of these risks 
  • The IRRBB section of the ICAAP

  • Setting market risk appetite and writing market risk policies.
  • Producing the market risk section of the CRO report
  • Carrying out market risk analysis 
  • Inputting into the migration of the monitoring of interest rate risk from spreadsheets to an Asset & liability Management (ALM) system. 
  • Reviewing strategic initiatives and considering the impact on market risk.
  • Undertaking model validation on key interest rate risk models used for interest rate risk reporting. 
  • Undertaking assurance reviews, including on the appropriateness of risk controls, quality of reporting and implementation of risk appetite and policies. 
  • Carrying out ad hoc analysis to obtain a deep understanding of the key market risks facing the bank and key behavioural assumptions.
  • Horizon scanning of new regulatory requirements and consideration of the impacts 
  • Working with the operational risk team to oversee the management and mitigation of operational risks stemming from the treasury function. 
  • Working with the compliance function on the management and mitigation of compliance risks stemming from the treasury function.
  • Working with the Head of Liquidity Risk and wholesale credit to have a holistic view of the risks and controls across the Treasury front, middle and back office. 

Requirements

  • Considerable and extensive experience in Treasury risk management in a bank, consultancy or regulatory environment.
  • Strong demonstrable experience working in a 2LoD risk function, 1LoD front or middle office treasury function, or a consultancy providing ALM advice or a regulatory environment with expertise in a Treasury/ALM oversight.
  • Understanding of regulatory requirements for a treasury function, both risk and compliance, and regulatory reporting requirements.
  • Experience of structural hedging.
  • Understanding of hedge accounting. 
  • Experience using or implementing a ALM system. 
  • 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
  • Willingness to take a hands-on role in a dynamic organisation
  • SQL and Python skills are highly desirable.



Benefits

  • 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
  • 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
  • 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 and Salary Sacrificed Gym partnerships

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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