Global investment bank seeks a Senior Pension Risk manager to monitor and manages capital risks, and manage capital ratios, for the bank and its subsidiaries
The team sits in Treasury Risk and monitors and manages capital risks, and manages capital ratios, for
the bank and its subsidiaries. It optimises the use of capital resources, risk weighted assets and
leverage exposure to create sustainable value for the bank
Overall purpose of role
The individual in this role is a key team member -work includes analysis and
management of capital implications of our pensions position, our structural FX position, and provision of our
sum-of-the-parts and double leverage services to Service Recipients with regulatory capital requirements
within the bank The primary focus of the role is on pensions capital management.
Pensions Capital: support activities to ensure the Group, are appropriately capitalised for the financial and actuarial risks relating to the firm's defined benefit pension schemes. Manage, operate and develop all pension risk models, run internal and regulatory stress tests, run the ICAAP, support Trustee consultations on investment strategy,
support Triennial Valuations, recommend financial assumptions for quarterly and year-end
disclosures. Support engagement with investment managers, Trustees, actuaries, investment
advisors and scheme auditors.
Structural FX: support the management of the FX risk of the capital position of the consolidated
Group . Balance regulatory and accounting exposures, support structured transactions, develop hedging strategies, run internal and regulatory stress tests, run the ICAAP, and manage regulatory change.
Sum-of-the-Parts: support the monitoring of sum-of-the parts capital demand. Ensure Group
issuance and dividend plans will meet entity capital requirements and work with stakeholders to
remediate gaps. Evaluate and manage the Double Leverage, and Pensions, SFX and double
leverage components of the Group Risk ICAAPs.
Stakeholder Management and Leadership
The successful delivery of accountabilities is dependent on successful engagement with a wide range of
internal and external stakeholders
Decision-making and Problem Solving
The role requires extremely strong judgement and analytical skills, with the ability to review, interpret and
challenge a wide range of markets-based capital concepts and regulatory requirements. This requires the
ability to assess technical concepts such as Pensions risk and capital management (primary focus), FX
impacts to capital capital positions, new regulations and recommend solutions that are both practical and
appropriate. Strong judgement and problem solving skills are also required to be able to identify solutions,
agree an action plan that is acceptable to all parties and facilitate implementation.
Essential Skills/Basic Qualifications:
Markets/trading experience or market-risk management background (5+ years)
Technical capital understanding including pensions risk, knowledge of applicable global financial
regulations (UK, EU, US) and accounting standards, with structuring experience a plus
Significant banking / capital markets / financial services industry experience (i.e. 5+ years)
Management experience and track record of successfully engaging a broad spectrum of stakeholders;
strong communication skills (both written and verbal)
University Degree or equivalent experience
Desirable skills/Preferred Qualifications:
Solid understanding of market risk methodologies - VaR, stress testing, sensitivity analysis
Excellent knowledge of fixed income products and a good understanding of the risk profile of other
An understanding of asset liability management strategies, particularly for defined benefit pension
CFA, FRM, or a similar investment/risk qualification.
Understanding of retail and wholesale investment banking business models and associated financial
Ability to manage the capital impacts over multiple legal entities and at a Group level
Experience with stress testing and planning
Morgan McKinley is acting as an Employment Agency and references to pay rates are indicative.