Head of Stress Testing

Were looking for a Head of Stress Testing to join the 2nd Line Risk function. You will be part of the Group Risk Management organisation reporting into the Global Head of Financial and Prudential Risks.

This role is critical in ensuring we understand and can measure all material risks and hold capital and liquidity accordingly. 

We see stress testing as a continuous exercise which supports the identification of emerging risks and patterns and consequently informs both the required enhancements in product features and control environment and the management of capital and liquidity in order to ensure that we achieve an appropriate balance between regulatory constraints P&L optimisation and resilience in adverse scenarios. 

Youll contribute to the mission by:

• Understand our full suite of products and services get into the details roll up their sleeves adjust their understanding of risk to Wise (which is an EMI and investment firm)

• Independently and effectively engage with 1LOD risk owners and confidently challenge their understanding of tail events and effectiveness of existing controls

• Enrich our scenario library

• Design a meaningful datadriven stress testing program including further development of methodologies to measure diversification benefits. 

• Have tangible impact on controls product features pricing and forward looking optimisation of capital & liquidity requirements

What youll be doing:

• Developing and leading a secondline Grouplevel stress testing function 

• Leading scenario workshops with 1LOD risk owners and contributing with novel ideas informed by strong product knowledge 

• Building and implementing a datadriven and methodologically robust stress testing program; this will include: developing and maintaining models that are capturing second round effects or interactions between different risk types developing automated reports and calculations (with delivery supported by Risk Analytics)

• Owning the quantification of regulatory and internal capital and liquidity requirements actively engaging with regulators as part of supervisory review processes 

• Developing and maintaining methodologies to measure diversification benefits and to allocate capital across products and legal entities.

• Proactively engaging with 1LOD and 2LOD risk managers (and consequently advising ALCO) especially with regards to the identification and quantification of emerging risks and the potential impact of new products or initiatives

• Combining stress testing expertise and commercial awareness to find the best answer for the customer (not the easy answer) and to have tangible impact on (i) product pricing (ii) optimising the scalability of capital requirements (iii) setting up risk appetite metrics and limits. 

What youll bring:

• Demonstrable extensive (10 years) experience in economic capital modelling or stress testing for operational risks and financial risks (preferred esp. FX) 

• Understanding of capital & liquidity (preferred) requirements either under CRR or MIFIDPRU 

• Proven track record of driving change managing complex projects and delivering actionable insights to support strategic decisionmaking

• Knowledge of industry best practices. Familiarity with ORX beneficial

• Progressive forwardlooking and pragmatic approach to risk management 

• Strong Interpersonal skills that enable you to effectively form trusted relationships with business unit management teams but at the same time retain an ability to challenge with empathy and understanding.

• Confident resilient with a presence and a determination to succeed in a dynamic business environment

• Bachelors degree in finance/economics/econometrics or maths/physics or related fields (more advanced degrees are preferred)

Additional Information :

#LISL

Salary

For everyone everywhere. Were people building money without borders  without judgement or prejudice too. We believe teams are strongest when they are diverse equitable and inclusive.

Were proud to have a truly international team and we celebrate our differences.
Inclusive teams help us live our values and make sure every Wiser feels respected empowered to contribute towards our mission and able to progress in their careers.

If you want to find out more about what its like to work at Wise visit Wise.Jobs.

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Remote Work :

No

Employment Type :

Fulltime