Stress Testing & Prudential Risk Lead

Wise

Wise

London, UK
Posted on Wednesday, June 12, 2024

Company Description

Wise is a global technology company, building the best way to move and manage the world’s money. Min fees. Max ease. Full speed.

Whether people and businesses are sending money to another country, spending abroad, or making and receiving international payments, Wise is on a mission to make their life easier and save them money.

As part of our team, you will be helping us create an entirely new network for the world's money. For everyone, everywhere.


More about our mission.


Job Description

The Stress Testing & Prudential Risk Lead role is pivotal within Wise. It is critical to ensure we understand and can measure all material harms, and hold capital and liquidity accordingly. We proactively identify emerging risks, while raising and managing capital and liquidity effectively to ensure an appropriate balance between regulatory constraints, P&L optimisation and resilience in adverse scenarios.

This role sits within the Group Risk Management organisation, reporting into the Global Head of Financial Risks and partnering with the Prudential Controller (Finance, First line), who is in charge of capital and liquidity planning. While building your team, we are looking for someone that can roll up their sleeves, adjust their understanding of risk in other types of financial institutions to Wise’s business model, get into the details to design a meaningful stress testing program, apply appropriate interpretation and judgement of group and regional regulatory regimes and partnering with first and second line teams to get things done.

WHAT YOU’LL BE DOING

  • Developing and leading a second-line, Group-level stress testing and prudential risk management function, while advising regional Heads of Risk on the implementation of their stress testing and prudential risk requirements

  • Be responsible for building and implementing data-driven and methodologically robust stress testing programs across all financial (liquidity, market and credit) and non-financial (operational and compliance) risks of Wise

  • Co-lead (in collaboration with the Prudential Controller) the delivery of the Group-level ICARA, ILAAP, WDP and RST; provide a robust review and challenge of regional ICARAs/ILAAPs

  • Partner with key cross-functional stakeholders to steer enhancements to our risk taxonomy and associated controls and therefore, ultimately, enabling real-time, market-informed stress testing

  • Advise ALCO and its subcommittees (market, credit, liquidity) on the potential impact of emerging risks and new products or treasury led initiatives

  • Hire, develop and manage our Stress testing and Prudential Risk Management team


Qualifications

  • Hands-on, demonstrable experience in stress testing (including proficiency in quantitative risk modelling), capital (required) & liquidity (preferred) requirements calculation, external benchmarking

  • Experience with internal/economic capital models for operational risk required

  • A knowledge of regulatory requirements & industry best practices

  • Extensive experience (10+ years) in stress testing and/or prudential risk management within the financial services industry

  • An understanding of banking and/or EMI regulations in at least one tier 1 market such as US, UK, AU or EU on capital and/or liquidity requirements

  • Progressive, forward-looking and pragmatic approach to risk management

  • Excellent leadership, communication, and stakeholder management skills, with the ability to influence and collaborate effectively across organisational levels.

  • Proven track record of driving change, managing complex projects, and delivering actionable insights to support strategic decision-making

  • Bachelor's degree in finance/economics/econometrics or maths/physics, or related fields (more advanced degrees are preferred)


Additional Information

#LI-CH1

For everyone, everywhere. We're people building money without borders — without judgement or prejudice, too. We believe teams are strongest when they are diverse, equitable and inclusive.

We're proud to have a truly international team, and we celebrate our differences.
Inclusive teams help us live our values and make sure every Wiser feels respected, empowered to contribute towards our mission and able to progress in their careers.

If you want to find out more about what it's like to work at Wise visit Wise.Jobs.

Keep up to date with life at Wise by following us on LinkedIn and Instagram.