Head of Treasury Risk, Starling Bank
1-5 days a week in office
Mobile-first bank offering personal, joint and business accounts
Job no longer available
Mobile-first bank offering personal, joint and business accounts
1001+ employees
Job no longer available
1-5 days a week in office
1001+ employees
Company mission
Anne Boden founded Starling with a clear goal: to build a bank that would help you manage your money, all from one app. Their vision is to give everyone clarity and control over their money so they have the opportunity to enjoy a healthy financial life.
Role
Who you are
- Considerable and extensive experience in Treasury risk management in a bank, consultancy or regulatory environment
- Strong demonstrable experience working in a 2LoD risk function, 1LoD front or middle office treasury function, or a consultancy providing ALM advice or a regulatory environment with expertise in a Treasury/ALM oversight
- Understanding of regulatory requirements for a treasury function, both risk and compliance, and regulatory reporting requirements
- Experience of structural hedging
- Understanding of hedge accounting
- Experience using or implementing a ALM system
- Flexible and adaptable; must be able to juggle multiple competing priorities whilst managing expectations
- Self starter; proactive attitude, committed to continuous improvement and willing to drive different initiatives in a changing environment
- Strong stakeholder management skills and a track record of building senior level relationships
- Strong influencing skills and an ability to manage change and react quickly with a view
- Excellent interpersonal skills including the ability to challenge in a positive manner and handle difficult situations
- Excellent decision making, planning and prioritising skills
- Willingness to take a hands-on role in a dynamic organisation
- SQL and Python skills are highly desirable
What the job involves
- We’re looking to recruit a Head of Treasury Risk within the 2nd line risk function reporting to the Director of Financial Risk
- The role covers the oversight and challenge of Market Risk, predominantly Interest Rate Risk in the Banking Book (IRRBB) but also FX and credit spread risk
- The role will also provide broader oversight of the Bank’s hedging activities and Treasury operations
- It will work closely with the Head of Liquidity Risk, Wholesale Credit Risk and Treasury Compliance colleagues to take a holistic view of the risks across the Bank’s Treasury function
- It will be hands-on with senior exposure
- This role represents a fantastic opportunity to join a vibrant institution and to shape the Bank’s approach to managing risks from Treasury activities
- Establishing strong relationships with the Treasurer, and provide effective oversight and challenge of:
- Market risk (IRRBB, FX and credit spread risk)
- Stress testing of market risk exposures
- Key assumptions used in models. E.g of behavioural assumptions
- Management information and proposals that come to ALCO
- The control framework around market risk
- The bank’s hedging strategy, assumptions, controls and resulting exposures
- Hedge accounting and hedge effectiveness
- Regulatory reporting of these risks
- The IRRBB section of the ICAAP
- Setting market risk appetite and writing market risk policies
- Producing the market risk section of the CRO report
- Carrying out market risk analysis
- Inputting into the migration of the monitoring of interest rate risk from spreadsheets to an Asset & liability Management (ALM) system
- Reviewing strategic initiatives and considering the impact on market risk
- Undertaking model validation on key interest rate risk models used for interest rate risk reporting
- Undertaking assurance reviews, including on the appropriateness of risk controls, quality of reporting and implementation of risk appetite and policies
- Carrying out ad hoc analysis to obtain a deep understanding of the key market risks facing the bank and key behavioural assumptions
- Horizon scanning of new regulatory requirements and consideration of the impacts
- Working with the operational risk team to oversee the management and mitigation of operational risks stemming from the treasury function
- Working with the compliance function on the management and mitigation of compliance risks stemming from the treasury function
- Working with the Head of Liquidity Risk and wholesale credit to have a holistic view of the risks and controls across the Treasury front, middle and back office
Salary benchmarks
Our take
Starling started life focused on consumer banking, they have since found most of their success by competing in the business banking space. They’ve caught up with Tide and beaten the likes of Monzo and Revolut to a more complete offering for businesses.
This progress resulted in them receiving a £100m grant in April 2019 from a body created to boost competition in SME banking, which they're using to accelerate building a full suite of digital banking products: intelligent forecasting tools, and digitally-enabled relationship management functions as well as lending products.
As well as continuing to expand in the UK, they’re expanding in Europe. They’re imminently launching an international bank in Dublin, which will allow Starling to offer its current account across the European Union after Brexit.
Banking for small businesses has historically been ignored even though the experience is poor. Starling is in tune with knowing what their customers want, and they continue to build out their range of third-party products within its banking app thanks to support from its open API. They currently have 11 integrations, including Xero, but that figure continues to grow.
Steph
Company Specialist at Welcome to the Jungle
Insights
Few candidates hear
back within 2 weeks
43% female employees
40% employee growth in 12 months
Company
Funding (last 2 of 11 rounds)
Apr 2022
$165.3m
LATE VC
Jun 2021
$44.4m
LATE VC
Total funding: $1.1bn
Company benefits
- 25 days holiday (plus take your public holiday allowance whenever works best for you)
- An extra day’s holiday for your birthday
- Annual leave is increased with length of service, and you can choose to buy or sell up to five extra days off!
- 16 hours paid volunteering time a year
- Salary sacrifice, company enhanced pension scheme
- Life insurance at 4x your salary & group income protection
- Private Medical Insurance with VitalityHealth including mental health support and cancer care. Partner benefits include discounts with Waitrose, Mr&Mrs Smith and Peloton
- Generous family-friendly policies
- Perkbox membership giving access to retail discounts, a wellness platform for physical and mental health, and weekly free and boosted perks
- Access to initiatives like Cycle to Work, Salary Sacrificed Gym partnerships and Electric Vehicle (EV) leasing
- Incentives refer a friend scheme
Company values
- Do the right thing
- Listen
- Aim for greatness
- Own it
- Keep it simple
Company HQ
Spitalfields, London, UK
Leadership
Anne Boden
(Founder)Held senior roles in finance over a 30 year career, including COO for AIB and Head of EMEA for RBS.
Diversity, Equity & Inclusion at Starling Bank
Manuela Torrijos-Simon (Group Financial Controller)
- In the spirit of Aiming for Greatness and Doing the Right Thing, we want to be the bank with the best approach to Diversity and Inclusion
- The Always Open Forum at Starling empowers employees to come together and own their areas of interest, supporting their agenda both internally and externally
- The forum creates a safe space for conversations about all Diversity and Inclusion topics, with the spotlight currently on 3 focus areas; Race and Ethnicity, LGBTQ+ and Mental Health.
- We’re about to launch a new group to support Disability, and all of these teams help bring Starlings together to improve our workplace
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