Analyst Credit Risk Jobs Vacancy at Bank England London
Bank England London urgently required following position for Analyst Credit Risk. Please read this job advertisement carefully before apply. There are some qualifications, experience and skills requirement that the employers require. Does your career history fit these requirements? Ensure you understand the role you are applying for and that it is suited to your skills and qualifications.
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Analyst Credit Risk Jobs Vacancy at Bank England London Jobs Details:
Job Market Operations
Organisation MARKETS DIR
Job Posting 16-May-2018, 9:51:17 AM
The Bank of England is the UK's central bank. Our mission is to deliver monetary and financial stability for the British people.
The Bank of England is a diverse organisation, made up of approximately 3600 people – each committed to public service and dedicated to promoting the good of the people of the United Kingdom by maintaining monetary and financial stability.
The Markets Directorate promotes monetary and financial stability by leading the Bank's market operations, and by using our presence, expertise and influence in financial markets to inform and shape the Bank's policy decisions and priorities.
The Markets Directorate includes 6 Divisions which are:
- Sterling Markets
- Foreign Exchange
- Market Intelligence
- Financial Risk Management
- Middle Office
- Markets & Banking COO
The Financial Risk Management Division (FRMD) is responsible for managing the financial risks that the Bank faces in managing the Asset Purchase Facility (‘APF’) and for its operations in Sterling Markets (via the Sterling Monetary Framework, to support monetary and financial stability) and FX Markets (in the management of both the Bank’s and the government’s foreign exchange reserves).
Within FRMD, the corporate group is responsible for assessing, monitoring and managing the risks posed to the Bank/APF through its holdings of some £10bn of sterling investment grade corporate bonds purchased as part of the Corporate Bond Purchase Scheme (CBPS) launched in 2016. Sister teams within Credit Risk manage the credit risks pertaining to about 400 counterparties across bank, sovereigns, central banks and government agencies, supra-nationals and CCPs. For each type of exposure, the team is responsible for designing assessment methodologies, carrying out credit assessments and allocating credit ratings. In this respect, the Credit Risk Team functions effectively as the Bank’s internal rating agency. Credit Risk also sets exposure limits to entities and manages and reports on exposures against limits.
FRMD is looking to recruit an adaptable, team-oriented and incisive analyst to be a key part of the small team responsible for risk managing the Bank/APF’s exposure to corporates via the CBPS. This is a high-profile opportunity to work on a fast-moving portfolio of unsecured sterling investment grade credit risk with high visibility to Governors and to HM Treasury. The role involves producing regular credit assessments of the fundamental risk profiles of eligible companies, informed by credit rating agency reports, strategic and financial statement analysis and monitoring of bond spread and other market data developments. Analysts are required to present their assessments to the Bank’s APF Risk Committee and to monitor the performance of eligible issuers closely on an on-going basis. The role involves collaborating closely with colleagues in market risk, second line risk, Sterling Markets Division and Middle Office on a range of risk, policy and operational issues related to the CBPS. It provides an exciting opportunity to work on a relatively new and high-profile Bank initiative at the heart of the Bank’s market operations and to play a key role in a team with significant day to day impact and senior stakeholder engagement.
Key responsibilities include:
Analysing the fundamental corporate credit risks assumed as part of the APF’s Corporate Bond Purchase Scheme through regular credit assessments of the firms whose bonds have been purchased, promptly identifying potential downward rating migration and default risks
Making recommendations, supported by solid evidence, as to the continued eligibility and appropriate risk categorisation for a given issuer within the Financial Risk Management Framework approved by Governors
Presenting and defending those assessments at and contributing expertise to senior stakeholders at APF Risk Committee
Monitoring and responding promptly to relevant business and financial risk news-flow and rating, spread and other market data developments affecting eligible issuers across multiple corporate sectors, including producing a weekly CBPS Credit Monitoring Report
Applying own knowledge of corporate risk, capital structuring, credit rating agency methodologies and corporate bond market dynamics to issuer and issue-level analysis
Peer-reviewing assessments completed by other analysts
Working closely with key stakeholders in market risk, second line risk, Sterling Markets Division and Middle Office on a range of risk, policy and operational issues related to the CBPS
Effective written and oral communication skills with the ability to synthesise and explain complex issues in plain language
Experience and knowledge of corporate credit risk and key accounting and financial analysis concepts and willingness to develop knowledge of credit rating agency methodologies, market data platforms and corporate bond market dynamics. Candidates should be able to articulate the key factors influencing corporate creditworthiness and to demonstrate an appreciation of how those differ by sector
The ability to manage to tight deadlines, juggle multiple tasks and work effectively and inclusively as a team when under pressure
The ability to peer-review work and give concise, constructive feedback as well as to be receptive to constructive feedback from colleagues
An understanding of the objectives and activities of the Markets directorate and the impact CBPS risks may have on the ability to achieve those objectives
Effective adaptable team player with good interpersonal behaviours
We anonymise applications so hiring managers will not be able to see your personal information or CV when reviewing your submission. Please complete the application form questions as requested and make sure the work history and education sections are completed. This can be uploaded from your CV or copied into the relevant sections. Incomplete submissions may not be reviewed.
Closes 31st May