Financial Risk Manager

Working at the Cumberland, you become part of something special.  We’re a Mutual organisation, committed to improving the lives of our colleagues, customers, and community. Our values are incredibly important to us.

We’re on an exciting transformational journey with our people firmly at the forefront of our plans.  If you want to work for a team integral in helping to drive cultural change, a team where you can bring your whole self to work bringing your energy and creativity to make a positive difference, then this is the job for you.

We have an exciting opportunity for a Financial Risk Manager to join the Risk team. You will support the Head of Financial, Strategic & Enterprise Risk to oversee financial risk management for the Society, working closely with colleagues in Risk, Treasury and Finance to deliver your role, building strong relationships and offering advice and guidance alongside oversight of controls.

The Benefits

• Salary - up to £57,007 p.a. depending on skills and experience.
• Holidays - 25 days holiday increasing with service, plus public holidays and the opportunity to buy and sell up to 3 days.
• Learning and Development opportunities - We want you to grow in your role. We’ll work together to support your personal and professional development.
• Hybrid Working - the tools and equipment you need to be able to work from home when you need to, depending on your role.
• Health and Wellbeing - a calendar of events and activities throughout the year, Mental Health & Wellbeing champions, and Cycle to Work scheme.
• Community Day - We offer our people an extra paid day off every year to help local charities and community organisations.

The role

Your main responsibilities will include:

• Review and challenge of our key prudential policy documents, including our self assessments of liquidity and capital adequacy. You’ll need to review and challenge the content, including assumptions and scenarios used, and prepare and present Risk reports for Assets & Liability Committee (ALCO) and Board to provide opinion and recommendations.
• Undertake horizon scanning of the Prudential Regulatory landscape to ensure the Society is appropriately informed and understands the impact of changes. Alongside this you’ll undertake interpretation of existing prudential regulation as required.
• Oversight of Treasury financial risk management activity, including hedging, prepayment assumptions, counterparty credit risk and encumbrance. That will mean day-to-day involvement as well as specific ad-hoc review.
• Review and oversight of monthly MI and ALCO reporting to assess compliance with our risk appetite and to help oversee the financial risk position. 
• Periodic review of regulatory reporting, including key capital and liquidity returns.
• Put a risk lens on the annual financial planning process to oversee and challenge key assumptions and calculations.
• Participate in projects and prudential programmes relating to financial risk management.

About you

Skills and abilities:

• Knowledge of relevant regulatory requirements and their interpretation, particularly capital and liquidity. 
• Solid understanding of a balance sheet – numerate background/degree/qualifications.
• Experience in Treasury and Finance functions; knowledge of industry best practice.
• Experience in prudential regulatory reporting preferable.
• Experience in use of Treasury systems such as Almis would be an advantage.
• Strong written skills and proficient in the use of Microsoft Word and Excel.
• An understanding of the importance of, and a desire to learn and understand the interaction of capital funding and liquidity, in a commercial and regulatory context.
• Stakeholder engagement/relationship building - strong team player and interpersonal skills.
• Gravitas and the ability to challenge the status quo.
• High attention to detail and high level of accuracy
• Report writing and clear messaging for stakeholder engagement. 

Behaviours:

• Customer Led – to work with internal customers in a positive manner both in terms of verbal language and body language. You must pay due regard to customers and treat them fairly.
• Straight Forward – to behave in a manner that is clear, open, and non-obstructive.
• Responsible – Be responsible in all actions taken and engage with internal and external parties in a positive, cooperative manner. You must act with integrity, due skill, care, and diligence. You must observe proper standards of the market in which we operate.
• Forward Thinking – to consider how Risk and Treasury can do things differently to benefit the team, the Society, and customers.
• Better Together – Be a positive influence on not only the Risk and Treasury teams but the Society overall.

We’re here to create a banking experience that’s kinder to people and planet.

Unlike banks, we don’t have public or private shareholders which means we can invest 100% of our profits back into our business. As a result, our business is purpose-led, financially strong, socially responsible and always focused on our people, planet and communities.