Vacancies

Reports to: Treasurer

Location: West End

Position Purpose:

The purpose of the balance sheet manager is to:

▪  Identify market risks in the bank's balance sheet.

▪  Develop and implement the ALMIS risk management system

▪  Proactive management and hedging of the bank's entire interest rate risk exposures in line with policy and risk appetite.

▪  Investment of rate insensitive assets and liabilities.

▪  Highlight material risks and develop opportunities and strategies to add value and protect earnings taking into account interest rate outlooks.

▪  Minimize the need for external hedging by seeking internal netting opportunities.

▪  Execute appropriate trades via the Market Execution team to hedge Market Risks that cannot be netted internally.

▪  In conjunction with ALM colleagues, seek to optimize the use of customer balances to achieve efficient execution of hedging strategies and optimal use of banking volatility capacity.

▪  Understand the extent to which the balance sheet position impacts on the financial performance of the Bank in various economic and interest rate scenarios.

▪  Work with Treasury risk to propose and develop risk appetites and associated policies. 

▪  Recommend strategies to ALCO to minimize IRRBB and other related interest rate and FX risks

▪  Support communication with key stakeholders; attend ALM committees and Boards as required (Business Units, Risk, ALCO, and Finance).

Principal Accountabilities:

Specialist duties

▪  Produce the monthly ALCO pack, highlighting the key changes on the month, deviation from plan and interest rate risks inherent.

▪  Impact analysis of future earnings from stress interest rate scenarios.

▪  Gap analysis of balance sheet versus optimal balance sheet

▪  Risk appetite and impact on capital and articulation to ALCO

▪  Introduction and management of capital investment plan and policy

▪  Monthly monitoring of basis risk and impact to balance sheet and P&L and monthly recommendation

▪  Interaction with retail products to ensure that asset and liabilities being developed meet the requirements of the balance sheet and if not a solution

▪  Strong interaction with the finance team to assist in reporting, hedge accounting issues, etc

▪  Act as disaster contingency dealer for front office team

▪  Liquidity stress testing and development to meet industry standard and ensure that all regulatory requirements are met

▪  Ongoing review and recommendation for internal policies to ensure that they are fit for purpose, meet regulatory constraints and articulate the risk appetite of the business        

Customer focus

▪  Provide exceptional customer service at all times by ensuring that all customer queries and requests are dealt with in a professional and timely manner

▪  Follow all Customer Care Standards, including telephone and email standards

Communication

▪  Clearly explain policies and procedures to colleagues and customers where necessary

▪  Demonstrate own duties to other colleagues as required seeking and clarifying all detail

▪  Improve efficiency by sharing information and knowledge with other team members as required

▪  Keep up to date with developments within the Company by reading the Harrods Bulletin, Your  Harrods Magazine and other Company information communicated

Key Performance Indicators (KPI's)

Individual KPIs:

▪  Accuracy and error rate

▪  Financial loss

▪  Complaints

▪  Commendations and compliments

▪  Sickness absence 

Departmental KPIs:

▪  Regulatory reports & Financial Accounts to be submitted accurately and on time

▪  Accounting documentation to be produced to satisfactory standard

▪  Management Accounts to be submitted to Board accurately and on time

▪  Regulatory breaches and Compliance

Competencies:

▪   A good knowledge of ALM techniques and practices and advantage.

▪   A good knowledge of market risk and hedging instruments, including interest rate swaps and option products.

▪   Good knowledge of term funding instruments.

▪   Good understanding of NII, market value, earnings at risk and value at risk.

▪   Experience of the analysis and investment of rate insensitive balances.

▪   A good working knowledge of Retail and Commercial Banking products preferably in a Treasury environment.

▪   Highly Analytical and numerate - ability to rapidly absorb, review and refine new concepts.

▪   Strong awareness of regulatory developments.

▪   Excellent problem solving skills - able to produce options at short notice based on rapidly changing scenarios.

▪   Attention to detail and ability to make sound recommendations.

▪   Good understanding of macroeconomics and drivers of balance sheet performance.

▪   Strong modelling skills, and exposure to ALM simulation packages, preferably ALMIS.

▪   Managing relationships with diverse internal and external stakeholders.

▪   Strong communication skills - effective engagement across the bank & ability to simplify complex topics for delivery.

▪   Good prioritization and team player skills.

▪   Planning and control.

▪   Ability to liaise with all levels of staff and to explain complex technical issues to non-technical staff.

▪   Able to work under pressure and to tight deadlines, individually and as part of a team.

▪   Pro-active get things done, approach to work.