Senior Risk Specialist (Structured Finance)

Morgan McKinley
London, United Kingdom
Sep 07, 2017
Sep 21, 2017
Job Function
Credit Analysis
Industry Sector
Finance - General
Employment Type
Full Time

Senior Risk Specialist (Structured Finance)

The Structured Finance Team is comprised of 7 Risk Specialists who cover a variety of products/asset classes ranging from RMBS, CMBS, CDO's to covered bonds and secured funding and they act as a technical point of reference for the organisation for everything related to Structured Finance and Bonds.

Having experience of Significant Risk Transfers for example (e.g. capital relief) and strong technical knowledge securitisation and trades is highly desirable. Other areas of focus will include stress testing e.g. high level knowledge on how securities and covered bonds are stress tested.

The main areas that the team are involved in are:

1) The team are responsible for inspecting the transactions that take place within the firms they oversee e.g. when they want a capital release, they will consider the significant risk transfer trade.

2) Policy and Regulation is another key area that the team are involved in and while the Bank has their own separate policy team that take the lead on providing the Banks input into regulation into structured finance and bonds, the Structured Finance Team provide high level support therefore high level technical knowledge of the regulatory framework around securitisation, including capital requirements, significant risk transfer, liquidity standards and large exposures is desirable.

The team are less closely involved in developing securitisation regulation eg Basel III capital requirements, risk retention 5% rule but you need to have a high level awareness of what is going on in that area.

3) Stress Testing is another fundamental function that the team are involved with as they review firms submissions every year. This involves category 1 UK regulated firms who submit their stress testing, while particularly looking at how the structured finance portfolio of those firms perform under a stressed scenario - again a high level of technical knowledge of how different securitised and covered bonds will perform under different stress scenarios and modelling experience will highlight how the bonds would perform.

Firms will have to paint the scenario that the bank asked them to look at, turn that scenario into what the impact will be for a securitisation asset class and model different transactions of different individual bonds

4) The team also support the subsidiary team in Asset Quality Reviews as in they will be asked to look at any regulated firms holding Bonds and Structured Finance and carry out a detailed risk analysis hence experience across multiple jurisdictions and asset classes is required.

Accountabilities/Responsibilities: (in brief)

*Provide expert advice and recommendations to line supervisors, Policy, HMT, EBA and other internal and external stakeholders;

*Be required to develop bespoke methods of analysis and to develop the methodology and modelling required for such analysis;

*Analyse the impact of structured finance techniques on firms' capital profiles, including the review of firms' risk-weighted asset (RWA) management through Significant Risk Transfer (SRT) and reviews of firms' Large Exposures to connected counterparties relating to structured finance and to covered bonds;

*Analyse the impact of structured finance techniques on firms' liquidity profiles, such as maturity transformation structures and the impact of securitisation funding on liquidity buffers;

Candidate profiles:

  • An understanding of the UK financial sector and possess strong structured finance experience, preferably gained at a leading investment bank or asset manager. It would be preferred to have at least 5 years direct structured finance experience.
  • A degree or professional qualification in a highly numerate discipline, such as physics or engineering, MBA in finance or CFA or FRM qualification will be preferred.
  • Be a primary contact for the Structured Finance team with Supervision and with Policy for firm-specific and cross-firm workstreams relating to securitisations and to covered bonds;

The successful candidate will have the opportunity to make a difference in the financial services industry by leading key initiatives such as the Significant Risk Transfer regime or the Structured Finance workstream of an industry wide stress test of major banks in order to improve the soundness and stability of the UK financial system. In addition, the role will provide:

* The opportunity to make a significant contribution to the development and implementation of enhanced analytics capability in the organisation

* The ability to work in an intellectually stimulating environment, in a well-regarded and high-profile Division that makes significant contributions to the delivery of the organisations objectives.

* Insight into a wide range of risk management practices followed by financial institutions doing business in the UK.

If you have the relevant experience and wish to be considered for this opportunity, then please forward your CV to

Morgan McKinley is acting as an Employment Agency in relation to this vacancy.

Please note that any references to salary or pay rates in this advertisement and in the salary refinement section are indicative only and should only be used as a guide.