Sainsbury's Bank

Head of Balance Sheet Management


Sainsburys Bank Holborn and Home



Contract Type



Competitive plus benefits

Areas of business


Job ID


Google Map of 33+Holborn,+London,+Sainsburys+Bank+Holborn+and+Home,+EC1N+2HT

Sainsbury's Bank, 33 Holborn, London, EC1N 2HT

Job Description


This is a hybrid role and can be based out of any of our Store Support Centres, with regular travel to our Holborn Office required.

In a nutshell

As Head of Balance Sheet Management (BSM), you’ll measure, monitor and manage the Bank’s Interest Rate Risk Exposure within agreed risk appetite. You’ll ensure that the Bank maintains a prudent liquidity profile, through the delivery of its Individual Liquidity Adequacy Assessment Process (ILAAP) and daily liquidity monitoring.  You’ll maintain the Funds Transfer Pricing regime and advise the business on Interest Rate Risk Management (IRRM), whilst owning the Quantitative risk management (QRM) infrastructure and develop efficient and well controlled processes.

What you need to do

  • Develop methodologies, processes, and policies to capture IRR and instruct appropriate hedges to ensure that IRR remains within agreed risk appetite
  • Ensure that IRR in the Bank is reported accurately to ALCo and Regulators
  • Manage liquidity risk including delivery of the ILAAP, the overall Funding Plan and overs the daily monitoring/management of liquidity
  • Develop and operate the Bank’s Funds Transfer Pricing Policy
  • Support the planning process with forecasts of NII and FTP
  • Influence the development of the balance sheet to ensure sustainable profitable growth
  • Ensuring that the Bank retains sufficient capital to cover IRR
  • Attend ALCO and oversee the production of related management information, minutes, and actions.
  • Chair Liquidity Interlock Committee, oversee the production of MI and track actions
  • Lead and develop a team of 4 Treasury professionals.

What you need to know and show

  • High level of experience in finance and treasury related disciplines
  • A broad understanding of the environment in which the Bank operates (economic, banking industry, regulatory, and organisational)
  • Experience of both the qualitative and quantitative aspects of interest rate risk and liquidity management
  • In-depth knowledge of treasury from a finance, risk and market perspective
  • Qualified accountant (or equivalent) with significant experience of managing data flows and developing well controlled processes
  • Proven ability to influence at a Senior Management and Executive level
  • Understanding of QRM, or an equivalent system, and how it is used for modelling bank balance sheets
  • Exposure to broad range of Treasury disciplines at a leading Bank, where internationally recognized guidelines, standards and governance are adhered to across Treasury and Finance.
  • The ability to challenge colleagues in a collaborative and constructive manner and be able to understand the perspective of all internal and external stakeholders

Our Benefits

In addition to the all-important salary, pension & bonus offering, we totally get that life outside work is important to us all. So, we want to shout out some of our other great benefits…

  • We offer flexible working to help you achieve a good work/life balance
  • Opportunity to buy extra holidays is on the table
  • Discounts on your weekly shop, buying a laptop or sofa? We’ve got it covered through your Sainsbury’s, Argos and Habitat store discount card 
  • Cycle to work scheme

A little about us & our culture

We’re proud of our heritage as the UK’s first supermarket bank. As digital technology drives the banking landscape we want to be at the cutting edge of this technology, offering award winning innovative digital banking products to our customers. Technology is where we see our growth therefore, we need innovators to join us and drive the next phase of our evolution. 

We’re a friendly bunch who collectively share a passion to make our customers’ financial lives easier.  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. 

Everyone is welcome at the Sainsbury’s Group, and 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.

Work-life balance is important to us, so we offer our colleagues as much flexibility as possible in line with the needs of their role.  We trust them to decide how, where and when they work, combining remote and collaborative working with a flexible approach to hours within their working days, giving plenty of time and space for life outside of work whilst delivering against our business goals. 

If you’re interested in applying and are excited about working with us but are unsure if you have the right skills and experience – we’d still love to hear from you! We’d also be happy to discuss more flexible working options such as job shares and part time working.  

As this role involves working within a regulated environment any offer will be subject to satisfactory background checks including criminal record check, credit check, fraud check and employment references.