Lead the second line at a profitable challenger bank with £14bn of deposits, as it moves from standardised to IRB models for its mortgage book.
The role
The bank was authorised in 2017, turned profitable in 2023 and now holds £14bn of deposits and an £11bn lending book across mortgages, SME loans and credit cards. It is working towards permission to use internal ratings-based models for its residential mortgages, which would materially improve its capital position. The current CRO is retiring after leading the function since authorisation. You will report to the Chief Executive, with an independent line to the Chair of the Board Risk Committee, and hold the SMF4 role.
What you will do
Lead a risk function of 85 across credit, financial, operational and compliance risk.
Steer the IRB application through to PRA approval, working with the CFO and the model development team.
Refresh the risk appetite framework ahead of the next three-year strategic plan.
Own the ICAAP, ILAAP and recovery plan, and present them to the board.
Strengthen operational resilience and third-party risk as the bank adds new lending partnerships.
What you will bring
A senior risk career in UK retail or commercial banking, including time as CRO, deputy CRO or head of credit risk.
Direct experience of an IRB application or a model approval process.
Strong standing with the PRA and confidence in the SMF4 role.
The ability to support growth while keeping a clear and independent second line.
A leadership style that holds senior first-line colleagues to account without slowing the business down.
The package
Base of £300,000 to £350,000, a discretionary bonus and a long-term incentive plan, alongside a 10% pension contribution and private medical cover. Three days a week in the City office. First interviews w/c 2 November.
