To provide insight and assurance regarding the risks associated with relevant aspects of PIC’s investment portfolio, in particular with a focus on public and private credit investments, and counterparty risks PIC faces across derivative, reinsurance and outsourced third parties. Such insight and assurance to be provided in the context of PIC’s stated Risk Strategy and Appetite, its obligation to policyholders and how it conducts its business, its regulatory and other relevant obligations and requirements.
This role sits within the Risk Team. The Risk Team contributes to the overall success of the business by providing the framework and information that supports the delivery of the strategy within the acceptable limits established by the Board.
- Undertake detailed credit analysis of a range of counterparties (including derivative, reinsurance and material third party suppliers) establishing a robust view of the credit worthiness and associated credit rating.
- Perform 2nd line review of initial and ongoing internal credit ratings. Provide assurance on the adequacy of methodologies, their application and the resulting outputs of the internal rating scorecard as part of periodic deep dive reviews, investigations and general oversight work
- Contribute to the development and maintenance of the credit and counterparty risk management frameworks.
- Maintain and develop appropriate tools for assessing counterparty credit risk. Ensure models for calculating risk exposure remain relevant and are updated accordingly such that they appropriately capture relevant risk components.
- Contribute to the development and maintenance of the credit and counterparty risk management frameworks.
- Maintain and develop appropriate tools for assessing counterparty credit risk. Ensure models for calculating risk exposure remain relevant and are updated accordingly such that they appropriately capture relevant risk components.
- Engaged in any decision, activity, initiative, project or process to the level the Risk Function believes appropriate and necessary, irrespective of size and features
Requirements
Knowledge, experience, skills and abilities (technical competencies)
- Experience of undertaking detailed FI counterparty credit risk analysis.
- Ability to present and respond to challenge with regard to assessment of counterparties and their credit ratings.
- Ability to construct relevant MI and interpret its relevance on individual and portfolio basis.
- Ability to distill information and apply judgement.
- Knowledge of frameworks, business processes, standards, policies and procedures.
- Knowledge of legal, regulatory and industry requirements.
- Manage self and others and communicate effectively with other areas of the business and senior stakeholders.
Qualifications
- Advanced qualification reflective of a degree or higher.
- Financial Services qualifications or experience is preferable to any specific qualification.
Benefits
- 28 days’ annual leave plus bank holidays
- Pension
- Insurance for Travel, Private Medical, Critical Illness, Life Assurance and Income Protection
- Save As You Earn (SAYE)
- And much more
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