Credit Risk IFRS9 Professional - BFS

IFRS 9 Financial Instruments is the most significant risk and accounting change since the initial adoption of IFRS, and one of the most significant changes in credit risk measurement since Basel II.

The role will be part of the newly created Wholesale Impairments Analytics Team (W-IAC) located in Bangalore which supports the aggregation, review and deep dive analysis of Impairment risk numbers. The team will also assist in strategic decision making.

Tasks include but are not limited to:

- Working with Group Risk Analytics teams to understand credit risk methodology's relating to IFRS 9

- Coordinating activities with Stress Testing, Sovereign Risk & Forward Economic Guidance Teams

- Being able to manage all levels of stakeholders

- Close collaboration with other global team will be essential to be successful in the role.

- Being the main point of contact in Wholesale Credit Risk (WCR) for IFRS 9questions coming from local regions, other HGHQ teams and regulators

To be successful in the team, you should meet the following requirements:

- Have an understanding of risk analytics and credit risk modelling

- Programming experience (SAS, SQL)

- Comfortable to perform data mining activities (for ECL driver analysis)

- IFRS 9 and Regulatory reporting experience

- IFRS 9 subject-matter and technical skills, with ability to:

i. To manipulate large data sets on analytics platforms like SAS,

ii. Build tactical VBA or spreadsheet-based tools for analysis and

iii. Present to senior stakeholdersStrong IFRS 9 subject-matter, business knowledge and technology sense Strong written / verbal communication skills

- Review Group/regional/business demands for methodology/policy changes and assess impacts

- Provide business performance benchmark reports

- Review credit mitigation measures applied to reduce ECL

Principal Accountabilities: Key activities and decision making areas Typical Targets and Measures

Impact on the Business - 

- Be part of a team to ensure an effective working relationships with related functions of the Bank (Forward Economic Guidance,Stress Testing etc)

- Supporting the team lead and facing off to senior management to ensure all queries are resolved in a timely manner

- Managing multiple streams of work and act as expert on the teams deliverables

- Manage any conflicts with internal and external stakeholders - Implement new regulatory requests

- Meet internal target dates to close requests from stakeholders and regulators

- Deliver enhanced global reports and analysis

- Efficient management of responses to regulatory queries

- Delivery of completed regulatory data templates

- Delivery of complete documentation

Customers / Stakeholders:

- Wholesale Credit Risk Management

- Group Risk Analytics

- WMR Stress Testing Teams

- GB&M Finance, Regulatory Finance

- Sovereign Risk and Forward Economic Guidance Teams

- Global Business finance teams

- Build solid relationships with stakeholders through meeting behavioral best practices

- Proactive engagement through open dialogue and transparency on processes and controls

- Address key topics as and when they arise

Leadership & Teamwork: 

- Deliver requirements against the objectives of Wholesale Credit Risk and understand the broader world of Capital

- Act as a role model to achieve high standards and lead, develop, motivate and inspire high performance in others

- Mentor and develop the team in their professional skills and development

- Feedback from team members and peers

- Be perceived as a trusted advisor

Operational Effectiveness & Control: 

- Help drive changes of IFRS 9 approaches, and lead the implementation of innovative solutions.

- Actively monitor regional practices and guide delivery to ensure that they are in line with Group policies. Ensure that Group Audit reviews of systems and practices related to stress testing and risk measurement proceed smoothly.

- Review and follow up handover protocols with offshore

- Managed growth with offshore resources capacity

- Identify task which can be offshored or not

Major Challenges (The challenges inherent in the role that require a continual test of the role holder's abilities) : 

- Large organization with many internal stakeholders to deal with, influencing through the existing governance.

- Prioritise work under high demand from all stakeholders, particularly as this is a regulatory driven project with a fixed deadline.

- Operate under tight deadlines with a process that can be prone to errors and re-runs.

- Sustain a broad range of activities under a changing infrastructure and regulatory environment.

- Work effectively with onshore and offshore resources to maximize consistency, timeliness and quality.

Role Context (The environment and operating conditions of the role including the extent of guidance and authority) : 

The WCR Regional function support both local business and regulatory requirements as well as providing the link to Group function for consolidation purposes.

Management of Risk (Operational Risk / FIM requirements) : 

- The jobholder will ensure the fair treatment of our customers is at the heart of everything we do, both personally and as an organisation.

- The jobholder will also continually reassess the operational risks associated with the role and inherent in the business, taking account of changing economic or market conditions, legal and regulatory requirements, operating procedures and practices, management restructurings, and the impact of new technology.

- This will be achieved by ensuring all actions take account of the likelihood of operational risk occurring.

- Also by addressing any areas of concern in conjunction with entity management and/or the appropriate department.

- Observation of Internal Controls (Compliance Policy / FIM requirements)

- The jobholder will also adhere to and be able to demonstrate adherence to internal controls. This will be achieved by adherence to all relevant procedures, keeping appropriate records and, where appropriate, by the timely implementation of internal and external audit points, including issues raised by external regulators.

- The jobholder will implement the Group compliance policy by containing compliance risk in liaison with Global Head of Compliance, Global Compliance Officer, Area Compliance Officer or Local Compliance Officer. The term - compliance- embraces all relevant financial services laws, rules and codes with which the business has to comply.

- This will be achieved by adhering to all relevant processes/procedures and by liaising with Compliance department about new business initiatives at the earliest opportunity. Also and when applicable, by ensuring adequate resources are in place and training is provided, fostering a compliance culture and optimising relations with regulators.

Role Dimensions (e.g. balance sheet size, lending/expenditure limits, size/volume of transactions, budget)

- Be part of a small pool of 5 resources -

- Interacting with Regional and Group senior management on a daily basis, being a trusted partner

- Working with Group Risk Analytics teams to understand credit risk methodology's relating to IFRS 9

- Being the main point of contact in Wholesale Credit Risk for IFRS 9questions coming from local regions, other HGHQ teams and regulators

- Collaborating on strategic change project, either risk driven or regulatory driven

- Delivery of PRA regulatory information for IFRS 9 

Knowledge & Experience / Qualifications (For the role - not the role holder. Minimum requirements of the role.)

- University graduate in Finance, Computer Science or numerated related disciplines

- Some experience in management and keen to develop this dimension. Can demonstrate team building and leadership achievements.

- Very good presentation skills to brief senior management on topics or summarize key information

- Good relationship skills with customers, especially under period of pressure

- Knowledge on trading business & products, risk methodology and regulatory framework.

- Experience in analytical reporting, e.g. explain of a quantity by breaking down its input variables

- Able to understand and document processes using data flow diagrams

- Good level of understandingof Excel & Access (VBA level), PowerPoint and MS Word

- Experience of 6 + years