Prudential Risk Manager

This is a great opportunity for a Risk Manager to join the second line Prudential Risk team within Financial Risk Oversight. You will be providing specialist regulatory advice in the area of core prudential risks, contributing to the development of the regulatory objectives for the area. You will be supporting on implementation of regulatory change, ensuring that the Society meets the expectations of the Prudential Regulation Authority.

The role is a fantastic opportunity to provide specialist advice across the prudential regulatory landscape, managing and maintaining the library of prudential requirements in Metric Stream and providing Oversight of compliance. There is also the opportunity to work with 1st line colleagues to develop the reporting of the prudential compliance position.

The role requires the ability to interpret complex and sometimes conflicting regulation, giving attention to both the detail and the big picture of the regulators’ agenda, probing to find practical applications to the business environment, identifying possible alternatives and providing advice and challenge based on compliance risk. Therefore, you will require a breadth of knowledge and experience across prudential regulations.

Recognised as a subject matter expert in your area, your work will be varied and technically demanding, providing prudential risk insights across business Functions, within Finance, Risk, Retail, People, and Communications Brand and Engagement.

The role sits within the Financial Risk Oversight function, who provide second line review, challenge and support across market, liquidity, capital, model and business risks, as well as prudential regulatory advice and Oversight of Environmental, Social and Governance. The department is led by the Director of Financial Risk Oversight who reports to the Chief Risk Officer. There is the opportunity to feed into the work of the wider team and to ensure that the compliance aspects have been considered.

You will need to build, influence and maintain professional business relations with key contacts up to Level 5 across both 1st and 2nd lines of defence.

At Nationwide we offer hybrid working wherever possible. More rewarding relationships are supported through our hybrid approach, bringing colleagues together across our UK wide estate, whilst also supporting generous access to home working. We value our time in the office to solve problems, to learn, and to feel connected.

For this job you'll spend at least two days per week, or if part time you'll spend 40% of your working time, at one of our offices. If your application is successful, your hiring manager will provide further details on how this works. You can also find out more about our approach to hybrid working here.

What you'll be doing

Given the diversity of the role you will have the opportunity to work on a variety of different topics across core prudential rules, including providing specialist regulatory advice, monitoring the implementation of regulatory change, including representation on implementation or remediation projects, ensuring clarity of ownership of prudential regulations as well as Oversight of Compliance and ESG (Environmental, Social and Governance) topics.

Recognised as a subject matter expert in your area, you will be expected to support the wider team with prudential compliance knowledge as well as 1st line teams to ensure the implementation and compliance with prudential requirements. You will be responsible for:

• Providing specialist core prudential regulatory advice such as interest rate risk in the banking book, market risk, liquidity risk, capital risk and model risk management.
• Monitoring and reporting on regulatory change within your portfolio.
• Maintain the list of applicable prudential regulations and work with 1st line to evolve the management information for compliance with the prudential landscape.
• Create monthly and quarterly outputs on key prudential publications for distribution and committees.
• Work with Compliance and Regulatory Affairs to ensure consistency of approach to managing regulatory change.
• Build and develop relationships at a senior level, representing prudential risk at a senior level, representing Financial Risk Oversight at internal meetings.

This job will keep you thinking, your work will be varied and technically demanding, and you could be working on your own or as part of a wider team.

About you

You should be comfortable working on and leading a wide range of projects, and be comfortable providing an opinion, and demonstrating best practice, supported as appropriate by regulatory evidence.

Requirements for the role include:

• Proven prudential regulatory experience.
• Experience of providing specialist core prudential regulatory advice such as interest rate risk in the banking book, market risk, liquidity risk, capital risk and model risk management.
• Have detailed knowledge/experience of the relevant regulatory requirements, and the ability to interpret what that means for the Society.
• Comfortable working independently and part of a team, and willing to form and provide an opinion based on the information available.
• Self-motivated with a desire to stretch yourself and seek out new challenges.
• Strong interpersonal and influencing skills.

As someone who is up for a challenge, you will be expected to take ownership of issues outside of your own direct remit for the benefit of the department and division. You will need to prioritise effectively and maintain focus and a proactive approach, as well as being able to perform under pressure against tight deadlines.

Our Customer First behaviours are all about putting customers and members at the heart of how we work together. You can strengthen your application by showing the behaviours that resonate with you, and how you might have already demonstrated these.

• Say it straight - This is about being honest and direct with good intent and saying what needs to be said in the room. It’s also about being clear, precise, and using language that we and, importantly, our customers and members can understand.
• Push for better - This is about aiming high and constantly looking for better in how we work together and serve our customers and members.
• Get it done - This is about prioritising what will have the greatest impact, being decisive and taking accountability for delivering on the end-to-end outcome.

We know applying for jobs can sometimes feel like you’re sending an application into a black hole. We review each application individually. So, it’s a good idea to call out your most relevant experience on your application to give yourself the best chance.

The extras you'll get

There are all sorts of employee benefits available at Nationwide, including:

• A personal pension – if you put in 7% of your salary, we’ll top up by a further 16%
• Up to 2 days of paid volunteering a year
• Life assurance worth 8x your salary
• A great selection of additional benefits through our salary sacrifice scheme
• Wellhub – Access to a range of free and paid options for health and wellness.
• Access to an annual performance related bonus
• Access to training to help you develop and progress your career
• 25 days holiday, pro rata