Senior Quantitative Analyst- Prudential Analystics & Inspections

Employer
Central Bank of Ireland
Location
Dublin, Ireland
Salary
Salary Scale
Posted
May 10, 2022
Closes
Jun 09, 2022
Ref
14843539
Job Function
Other
Industry Sector
Finance - General
Employment Type
Full Time
Education
Bachelors
The Central Bank of Ireland serves the public interest by safeguarding monetary and financial stability and by working to ensure that the financial system operates in the best interests of consumers and the wider economy.

We currently have a number of vacancies for a Senior Quantitative Analyst in the Financial Risks Division. These roles are aligned with the Bank Professional 2 grade and the BP2 salary scale applies. Please click here for further information on our salary scales.

The purpose of these roles are to lead elements of the provision of specialist quantitative and risk expertise to support the prudential supervision of assigned entities, identification of cross-sectoral or firm specific risks and ensure compliance with regulatory standards.

At present we are looking to fill these similar roles across the following teams;

Internal Models- Credit Risk Team - This team aims to ensure firms have sound models in place to calculate the RWA that reflects the firm's Pillar 1 credit risk as well as ensure the soundness of the provisioning processes and accuracy of the expected credit losses estimates.
Recovery & Crisis Planning Team- This team aims to ensure that firms have credible and feasible recovery plans in place, with sufficient recovery capacity to restore the firm during a financial crisis. The team supports supervisors in reviewing recovery plans, crisis management and firm specific crisis activities.

Upon applying you will be asked to select the select the team/role(s) you wish to be considered for.

Responsibilities:
  • Provide specialist knowledge and quantitative / technical expertise in their field (e.g. quantitative risk modelling, internal model reviews, capital adequacy assessment, stress tests, , inspections, development and review of recovery planning and crisis management frameworks, provision models reviews or any related areas in their field) in the support of the prudential supervision of assigned entities/sectors and identify cross-sector or firm specific risks in order to ensure the stability of the financial sector.
  • Provide leadership, direction, coaching and guidance to team members through the performance of initiatives connected to the role i.e. on-site inspections, thematic reviews, analytical projects, imparting your technical expertise and high standards as part of the process.
  • Lead and deliver key initiatives that contribute to the team / function's overall objectives by way of quantitative assessments, financial analysis, risk modelling, and framework and process design to support the prudential supervision of entities, the Pillar's vision / mandate, and to ensure the stability of the financial sector. Lead key elements of large-scale quantitative projects.
  • Provide leadership in the process for identifying/understanding/communicating the emerging issues and evolving landscape for the relevant risk area through horizon scanning, peer analysis and quantitative analysis and any other relevant means, as well as participating in the actions to mitigate/manage these issues
  • Lead teams in conducting On-Site Inspections and Internal Model Investigations, as relevant, ensuring they take into account the relevant legislative requirements, guidelines, and industry best practice so the inspections are comprehensive. Lead the engagement with senior management of relevant entities with regard to the final findings and factual accuracy of the reports to ensure there is full comprehension of the assessment.
  • Take responsibility to ensure appropriate outcome of work is communicated clearly and effectively to management within the division, Directorate(s) and Pillar and (as relevant) the SSM and JSTs/ STs. Furthermore, take ownership for the management of all relevant stakeholders that relate to their work. In addition, supporting their manager in the design and delivery of the team's overall strategy as well as items related to it such as communication including interaction with stakeholders.
  • Contribute to the development of best-in-class approaches in their field/area of expertise to ensure the Directorate can deliver on its mandate and achieve its prudential vision.
  • Provide leadership, direction, coaching, skills transfer and guidance to team members to share expertise and ensure that the necessary skills, competencies and knowledge are being developed and leveraged across the team, as appropriate.
  • Represent the Division as a credible expert with internal and external stakeholders to ensure a valuable contribution is made by the division and relevant issues are identified and/ or communicated. Represent Ireland on relevant domestic and EU fora as required, delivering strong influence for the Central Bank on such bodies.

Requirements:
  • A Master's degree or equivalent professional qualification (e.g. Chartered Financial Analyst (CFA), PRMIA) in the area of business, accounting, finance, economics, maths, risk or any related professional discipline or comparable experience
  • Relevant experience includes inter alia: working in credit/ equity analyst role, financial supervision, working in the banking or financial services sector, or financial/ economic modelling.
  • Have quantitative experience/skills.
  • Subject Matter Expertise is required in a relevant area.
  • Extensive understanding/experience of the financial sector, the practical operation of companies within that industry and quantitative risk management techniques and approaches. The role holder should have knowledge of the changing approaches, requirements and techniques used in quantitative risk management.
  • Strong analytical, problem solving, decision making, planning and organisational skills.
  • Proven ability to critically assess complex/once off issues and problems with the ability to distill significant volumes of information, identifying solutions for root causes of issues.
  • The role holder should also have some knowledge of the other operational areas of the Bank that interact with the banks, including Financial Markets, Organisational Risk and Payments (ECB/monetary policy operations, collateral, payments and clearing).
  • Drive, enthusiasm and ability to take ownership and lead.
  • Excellent verbal and written communication in particular the ability to relate to senior management and staff.
  • Excellent capability in managing and delivering difficult/contentious issues with regulated entities including having an ability to challenge senior management on subjective issues.
  • Strong people management, coaching and leadership skills.
  • Acting professionally, ethically and with integrity.

Team Specific Requirements: Internal Models- Credit Risk Team
  • Lead and deliver key initiatives that contribute to the team / function's overall objectives by way of quantitative assessments, financial analysis, risk modelling, framework and process design to support the prudential supervision of entities, the Pillar's vision / mandate, and to ensure the stability of the financial sector. Lead key elements of large-scale quantitative projects.
  • Provide specialist knowledge and technical expertise on diverse subject matters related to credit risk quantification including:
  • IFRS9 expected loss estimation
  • Credit loss forecasting
  • Credit risk RWA
  • Relevant Internal Ratings Based (IRB) parameters (PD, LGD and CCF)
  • Regulatory and prudential requirements governing risk measurement techniques
  • to support of the prudential supervision of assigned entities/sectors and identify cross-sector or firm specific risks in order to safeguard financial sector resilience.
  • Deliver quantitative risk assessments, as well as supporting framework design where relevant to the team/area, including areas such as IFRS9 ECL model reviews and credit risk loss simulations.
  • Lead interactions with regulated entities in relation to the area of internal models, in particular, operating as a Head of Mission and leading teams in conducting on-site model investigations, as relevant, ensuring they take into account the relevant legislative requirements, guidelines, and industry best practice to ensure appropriateness of internal models. Lead the engagement with senior management of relevant entities and other competent authorities with regard to the final findings and factual accuracy of the reports to ensure there is full comprehension of the assessment.
  • Play a significant role in the supervision of internal models for credit risk by leading work streams related to the on-going model monitoring regime and thematic investigations.
  • Provide expert input on policy issues with regard to regulatory requirements for credit risk, in particular with regard to policy issues and supervision practices related to the IRB approach.
  • Partake in EU wide internal model related horizontal analysis projects and pan-European working groups.


Team Specific Requirements: Recovery & Crisis Planning Team
  • Lead and deliver on reviews of recovery plans, particularly focusing on technical assessment of recovery options and overall recovery capacity for both capital and liquidity;
  • Lead interactions with regulated entities in relation to the area of recovery planning, providing guidance and feedback on recovery plans, ensuring adherence to relevant legislative requirements, guidelines, and industry best practice in the area of recovery planning;
  • Lead and deliver key initiatives that contribute to the team / function's overall objectives by way of recovery planning, crisis management and quantitative assessment of recovery options to support the prudential supervision of entities, the Pillar's vision / mandate, and to ensure the stability of the financial sector;
  • Provide specialist knowledge and technical expertise on recovery planning and crisis management topics and participating in cross Bank projects;
  • Provide expert input on policy issues with regard to regulatory requirements for recovery planning in both internal and external fora; and
  • Actively participate in EBA and ECB working groups in the areas of recovery planning and crisis management, influencing the development of policy at an international level.


We know it's our people who make the Central Bank special and we are focused on creating a diverse, inclusive, fulfilling and progressive work environment. We encourage applications from candidates with different backgrounds, experiences and perspectives as it strengthens us, as individuals and as an organisation. We are committed to positively supporting candidates with disabilities. If we can make any reasonable accommodations for you in the recruitment process in order to give you the opportunity to perform to your best, please let us know. Any information that you provide will be used only for the purposes of providing relevant support and will have no bearing on how your application will be viewed.

Flexible working arrangements will be a consideration for the right candidates and we are open to applications from candidates seeking part time or job share arrangements.

Application Details:
Closing Date: 25th May 2022

To apply, please complete the application form attached (via the "apply" link). This allows you to tell us why you are the best fit for us.

Before starting your application you will be asked to create a profile with us, this will allow you to track and review your application throughout the process. Click "register" to create a profile and complete the application process.


Once your application has been successfully submitted you will receive an automatic email from us acknowledging receipt. If you do not receive this auto-acknowledgement, please contact recruitment@centralbank.ie recruitment@centralbank.ie .

The Central Bank pension scheme mirrors the rules of the civil service pension scheme. Details of the appropriate pension scheme will be provided upon determination of the appointee's status.

Cuirfear fáilte roimh chomhfhreagras í nGaeilge.
The Central Bank of Ireland is an equal opportunities employer.

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