Head of Credit Risk

Role purpose

We have an exciting opportunity for an experienced risk professional to effectively collaborate across the business to provide a second line view. You will apply knowledge and insights concerning investment, credit and counterparty risks and how this impacts our business to deliver strong business outcomes relating to capital, risk management, the Company brand and market reputation whilst achieving positive outcomes to all our stakeholders.

Key responsibilities

1. Advise the first line to facilitate the development of appropriate investment and counterparty credit risk frameworks and ensure the first line teams meet their obligations under the risk mandate.
2. Provide advice regarding relevant risk policies and procedures, associated risk appetite, and limits and the monitoring of these through key risk indicators and risk management information. Ensure exceptions are appropriately reported and resolved.
3. Oversee the construction of pricing portfolios and back book optimisation exercises to ensure risks are clearly identified and assessed in the context of risk appetite.
4. Ensure appropriate review of new investment initiatives and validation of credit ratings.
5. Provide advice and guidance regarding ratings assessment and methodologies.
6. Oversee the validation and reporting of credit and counterparty risk MI for the Risk Function.
7. Provide assurance to the Risk Function on risk and controls through periodic deep dive reviews, investigations and general oversight work.
8. Provide support to the business with managing day-to-day and new risks to ensure significant risks are properly identified and managed in line with PIC's risk appetite as well as giving general advice on good risk management in relation to credit and counterparty risk.

Person specification

Knowledge, experience, skills and abilities (technical competencies)

1. Prior experience of a risk management role in a relevant financial services entity (insurance, asset management, banking).
2. Good technical knowledge of credit risk, along with experience of counterparty risks, including ratings approaches and methodologies.
3. Established knowledge of legal regulatory and industry requirements.
4. Knowledge of business processes, standards, policies and procedures.
5. Familiarity with the UK regulatory environment and specific solvency regimes.

Qualifications

1. Advanced qualification reflective of a high degree of numeracy (FIA, CFA, ACA, CAIA or similar).

Benefits

1. 28 days' annual leave plus bank holidays.
2. Pension.
3. Insurance for Travel, Private Medical, Critical Illness, Life Assurance and Income Protection.
4. Save As You Earn (SAYE).

And more.