Director – Treasury ALM Balance Sheet Management
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Monthly Salary:
Posted on:
19 hours ago
Vacancies:
1 Vacancy
Job Summary
At OakNorth were on a mission to empower the UKs most ambitious businesses. Since 2015 weve lent over $21 billion across the UK and US helped create more than 58000 new homes and 36000 new jobs and supported hundreds of thousands of personal savers all while fuelling the UK economy.
Reporting to the Group Treasurer the Director of ALM will provide the analytical rigour and quantitative frameworks that inform balance sheet strategy enabling better decisions on interest rate positioning hedging and funding mix. The role will mature and lead the Banks ALM function elevating existing capabilities in IRRBB liquidity and funds transfer pricing into a more sophisticated analytical engine and building the infrastructure to support an 8bn balance sheet as we expand internationally.
This is a hands-on practitioner role.
We need someone who has builtALM frameworks designed behavioural models and implemented analytical systems. The successful candidate will bring deepexpertiseacross IRRBB FTP and balance sheet risk management introduce Python-based quantitative models and translate risk analysis into actionable hedging strategies.
Beyond technical delivery this is a leadership role: providing day-to-day oversight of India-based analysts who design and run the banks IRRBB and liquidity frameworks working alongside a London-based senior analyst and building a function that can scale with the groups expansion into the US.
Principal Responsibilities
- Balance Sheet Support
- Provide scenario analysis and quantitative insight that informs balance sheet positioning and interest rate strategy
- Develop frameworks for evaluating hedging trade-offscost capital efficiency and earnings volatility
- Quantify the implications of different rate paths funding structures and strategic options for NII and economic value
- Liaise with Capital Markets / Front Office for design and execution of hedging and investment decisions
- Provide analysis on investment portfolio positioning and its impact on interest rate risk and liquidity
- Build the ALM Framework
- Lead the development of the funds transfer pricing frameworktaking established design principles into production building the data architecture and calculation engine and operationalising across the business
- Enhance the banks IRRBB framework building on existing reporting to create tools that genuinely inform balance sheet strategy and hedging decisions
- Develop FX risk measurement and reporting frameworks for the group including UK-US consolidation and cross-currency exposureproviding analysis that informs hedging strategy decisions
- Analytical Infrastructure
- Strengthen the analytical toolkitenhancing existing NII and EV models and introducing more sophisticated treatment of behavioural optionality and hedge effectiveness
- Python and AI-assisted workflows are part of our toolkit accelerating model iterationrelevant experience is aplusbut core ALM and codingexpertiseis what matters
- Systematise and scale existing analytical processes into robust infrastructure
- Continue enhancing our in-house analytical infrastructure and evaluate vendor ALM solutionsdefining the target architecture and making an informed build-vs-buy recommendation. Experience with vendor platforms is essential.
- Leadership & Oversight
- Provide day-to-day oversight and quality assurance of IRRBB and liquidity analysis produced by India-based analystsdeveloping the teams technical capability and extending their scope into more complex analytical workover time
- Manage and develop a small team providing technical mentorship and clear development pathways
- Build capability that allows the function to scale with the groups expansion
- Foster a commercial mindset whilemaintaininganalytical rigour
- Governance & Controls
- Work closely with Treasury Governance tomaintainpolicies procedures and controls supporting the ALM framework
- Provide input into ILAAP liquidity stress testing and ALCO MI
- Develop analytical reports and papers for ALCO and Board
Requirements
- Experience
- 10-15 years in ALM treasury or balance sheet risk management within a bank
- Hands-on experience designing and implementing FTP frameworksyou know what good looks like and how to get there
- Practical experience building IRRBB models and behavioural analytics
- Direct experience with ALM systems (vendor or in-house)understanding of data flows model integration and what constitutes robust infrastructure
- Exposure to FX risk measurement and multi-currency balance sheets
- Technical Skills
- Strong Python skills with practical experience building financial models (QuantLib pandasnumpy)
- Comfortable with AI-assisted coding workflowswe use these to accelerate development though depth of ALM and Pythonexpertisematters most
- Deep understanding of fixed income mathematics derivatives pricing and hedge accounting mechanics
- Solid knowledge of banking regulation (PRA expectations EBA IRRBB guidelines CRD)
- Qualifications
- Professional qualificationrequired: BTRM CFA CQF or FRM
- Attributes
- Genuine practitionerhas personally built the things we need not just managed teams that did
- Strong interpersonal and communication skillsable to translate quantitative analysis into clear recommendations for ALCO and non-technical stakeholders
- Entrepreneurial mindsetexcited by taking capabilities to the next level rather thanmaintainingthe status quo
Benefits & Perks
- Equity. We want people to have a stake in the business so that all our interests are aligned.
- 25 days holiday
- Personalized benefits opt-in to what matters to you
- Subsidised Private Medical Insurance with Bupa
- Enhanced maternity and paternity leave
- Wellbeing and social events
- In-house Barista Bar in London office
- Support causes that matter to you Volunteering time off
- Salary sacrifice schemes (Cycle to work nursery gym electric car scheme)
We may use artificial intelligence (AI) tools to support parts of the hiring process such as reviewing applications analyzing resumes or assessing responses. These tools assist our recruitment team but do not replace human judgment. Final hiring decisions are ultimately made by humans. If you would like more information about how your data is processed please contact us.
Required Experience:
Director
Key Skills
- Category Management
- Athletics
- Customer
- ABAP
- Hydraulics
- ITI
About Company
OakNorth Credit Intelligence Suite transforms commercial lending, giving banks 360° views of borrowers, with deeply granular, forward-looking insight, to improve efficiencies, lower credit risk, and drive profitable growth through economic cycles. Banks lend smarter, lend faster, and ... View more
