Job Description & Summary
About the role
PwC’s Prudential Risk and Regulation team supports clients across a full range of prudential regulatory topics including Pillar 1 and 2 capital and liquidity requirements, recovery and resolution planning and regulatory reporting.
Our clients are predominantly banks and broker dealers, ranging in size and complexity from small start-ups to large, complex international groups.
For Pillar 2 we support our clients in meeting Internal Capital Adequacy Assessment Process (ICAAP) and Internal Liquidity Adequacy Assessment Process (ILAAP) regulatory requirements through hands-on delivery support, review and challenge and training of Boards and management teams.
We engage directly with and influence some of the most senior individuals at firms, reflecting the importance of the Pillar 2 regime in how firms manage their capital and liquidity adequacy.
We provide independent review and challenge of firms’ risk identification, risk assessment, stress testing approaches, and capital and liquidity quantifications and conclusions.
We also support management in their preparations for interactions with the UK regulators (Supervisory Review and Evaluation Process (SREP), and Senior Management Function interviews etc.
by providing coaching and mock interviews.
The ICAAP and ILAAP are also key documents to be prepared and submitted by firms seeking authorisation for a banking licence.
Our team supports these clients through an often long and complex authorisation process during which they must demonstrate to the UK regulators that they have a legally, operationally and financially viable business model.
We help applicants to navigate this process, in particular by providing support and advice on strategy, financial and regulatory modelling, regulatory documentation (ICAAP, ILAAP, Regulatory Business Plan and the Recovery Plan) and regulatory relationship management.
These require expertise from across PwC and we work closely with other PwC teams who support applicants with their governance, IT strategy and operational resilience.
As a Senior Manager, you’ll work as part of a team of problem solvers with extensive regulatory, advisory and industry experience, helping our clients solve their complex business issues from strategy to execution.
Specific responsibilities include but are not limited to :
Working as part of a team on a variety of large and small engagements
Liaising directly with clients, including at board and senior management levels, and leading a number of these relationships
Reviewing, challenging and providing peer and regulatory insights in relation to client-prepared documents, in particular ICAAP, ILAAP and RRP
Drafting materials to support clients through the authorisation process including for example components of the Regulatory Business Plan, ICAAP, ILAAP, Recovery Plan and related policies and procedures
Balancing multiple concurrent client projects and responding positively to uncertainty and change
Relationship building and networking with clients and internally across PwC
Leading and coaching more junior colleagues on both technical and relational components of the role
Working with the Partners and Directors to help grow the Pillar 2 proposition
The essential skills we are looking for are :
Good written and verbal communication skills
Good numerical skills
Good relationship management skills and experience in managing projects and / or people
Experience of problem solving
Strong experience in financial services prudential requirements. Candidates with lesser experience will be considered at the Manager level
An applied understanding of prudential regulatory requirements and expectations applicable to banks and / or broker dealers
At least one of the following :
Industry or regulatory experience of ICAAP / ILAAP / RRP development and / or the C-SREP / L-SREP process; or
Experience of supervision (from industry regulatory affairs, as an advisor or a regulator)
Experience of working with Tableau, PowerBI, Alteryx or other analysis tools would also be advantageous but is not essential.