Job Description
We’d all like amazing work to do, and real work-life balance. That’s waiting for you at Sainsbury’s Bank. “Bank by name, Sainsbury’s by nature” is the promise line we stand firmly behind, making sure we follow through on this by always offering value, making it easy and being an ally for our customers. We’re proud to be an equal opportunities employer that champions a diverse and inclusive culture that reflects the diversity of the communities we serve. Because we know it’s by working together, and by bringing new, diverse ideas that creates the best experience for our customers and colleagues. As part of the wider Sainsbury’s Group, being one of the UK’s most trusted brands, it brings our colleagues a wealth of opportunities to fulfil their potential. Here, you can be part of something bigger and help to create a new approach that puts the customer at the heart of everything we do.
Location - Hybrid working with base location either London or Edinburgh (2 days per week office based)
In a nutshell
The Interest Rate Risk in the Banking Book (IRRBB) Specialist is responsible for monitoring and reporting of the Bank’s Interest Rate risk metrics ensuring that the Bank operates within its risk appetite.
What you need to do
- Take ownership for the consolidation and distribution of the ALCO (Asset-Liability Committee) management information for IRRBB;
- Monthly reporting of interest rate risk (IRR) and Foreign Exchange (FX) risk metrics;
- Provide accurate and ongoing monitoring of the Economic Value and Earnings at Risk Models to assess the impact on the Bank current and potential interest rate risk position;
- Execute monthly Interest Rate Risk stress testing leveraging the Bank’s Asset and Liability software engine (QRM);
- Maintain up-to-date procedures of the regular activities;
- Monitor market and regulatory developments;
- Support ad-hoc requests for the team
- Provide constructive feedback on the preparation of the Bank’s MI’s and implement improvements to the current process;
- Support the IRRBB Manager with the day to day management of the Banks IRR and FX risk.
- Support other aspects of the Balance Sheet Management team deliverables including Liquidity risk and Funds Transfer Pricing.
- Work closely with Treasury Markets, Finance and various senior managers.
What you need to know and show
- Preferably a degree or masters in finance or mathematics
- Strong communication skills,
- Good attention to detail
- Evidence of being highly analytical
- Broad understanding of financial products such as derivatives, gilts and other financial instruments.
- Some Treasury experience would be preferable.
Please be aware that we do not provide sponsorship for skilled-worker visas for this position, and the vacancy may close ahead of schedule should we find an appropriate candidate.
We are committed to being a truly inclusive retailer, so you’ll be welcomed whoever you are and wherever you work. Around here, there’s always the chance to try something new - whether that’s as part of an evolving team or somewhere else across the business - and we take development seriously and promise to support you. We also recognise and celebrate colleagues when they go the extra mile and, where possible, offer flexible working. When you join our team, we’ll also offer you an amazing range of benefits. Here are some of them:
Starting off with colleague discount, you'll be able to get 10% off at Sainsbury's, Argos, TU and Habitat after 4 weeks. This increases to 15% off at Sainsbury’s every Friday and Saturday and 15% off at Argos every pay day. We've also got you covered for your future with our pensions scheme and life cover. You'll also be able to share in our success as you may be eligible for a performance-related bonus of up to 20% of salary, depending on how we perform.
Your wellbeing is important to us too. You'll receive an annual holiday allowance and you can buy additional holiday. We also offer other benefits that will help your money go further such as season ticket loans, cycle to work scheme, health cash plans, pay advance (where you can access some of your pay before pay day) as well access to a great range of discounts from hundreds of other retailers. And if you ever need it there is also an employee assistance programme.
Moments that matter are as important to us as they are to you which is why we give up to 26 weeks’ pay for maternity or adoption leave and up to 4 weeks’ pay for paternity leave.
Please see www.sainsburys.jobs for a range of our benefits (note, length of service and eligibility criteria may apply).