Wholesale Credit Risk Analyst

Hello, we’re Starling. We built a new kind of bank because we knew technology had the power to help people save, spend and manage their money in a new and transformative way. We’re a fully licensed UK bank with the culture and spirit of a fast-moving, disruptive tech company. We’re a bank, but better: fairer, easier to use and designed to demystify money for everyone.

We employ more than 3,500 people across our London, Southampton, Cardiff and Manchester offices.

To support our ongoing growth, we’re looking to recruit a Wholesale Credit Risk Analyst within the 2nd line Financial Risk Team. The role covers the analysis of wholesale credit risk within the business. It will be hands‑on with senior exposure. This role represents a fantastic opportunity to join a vibrant, fast growing institution and to shape the Bank’s approach and infrastructure around wholesale credit risk and the Starling Treasury portfolio.

Starling’s wholesale credit risk arises from its balance sheet management activities and its investments in securities, such as covered bonds and asset backed securities. Starling is looking for an analyst with previous experience of performing analysis of financial institutions and treasury investments (Covered Bonds, RMBS, ABS, SSAs) in order to support decision making on what counter party and investment limits Starling should have in place.

While the principal focus of this role will be on wholesale credit risk, we are also looking for someone that is flexible and willing to work across other disciplines within the financial risk team such as Capital Risk, Liquidity Risk, Market Risk, Climate Risk and Recovery & Resolvability.

Work will include:

• Providing robust risk analysis of the Bank’s wholesale credit risk exposures ahead of new investments in a prompt and timely manner;
• Undertaking in depth due diligence and analysis of new product proposals;
• Performing annual reviews of existing wholesale credit lines;
• Undertaking ongoing monitoring of exposures and undertaking regular reviews of current limits to ensure that they remain appropriate;
• Continue to develop accurate and fit for purpose stress testing of the portfolio as appropriate;
• Continue to develop Starling’s wholesale credit risk policy, risk appetite, limits and key risk indicators;
• Continue to develop and improve the in-house credit rating system for Starling;
• Assist team members across the financial risk team on other risk disciplines as required;
• Establish good working relationships and work together closely with the 1
  
  LoD Treasury and Finance teams; supporting them to achieve their objectives and providing constructive challenge;
• Attending credit committee meetings and presenting to senior management where necessary;
• Undertaking horizon scanning of new regulatory requirements and making considerations of the impacts; and
• Supporting other areas of Financial Risk when needed across Capital, Liquidity, Market and Climate Risk.

• Extensive, hands‑on experience of conducting analyses of wholesale credit exposures - with a particular emphasis on RMBS, covered bonds & consumer/auto ABS. The ability to analyse financial institutions and SSAs as well.
• Strong demonstrable experience working in a 2
  
  LOD risk function, 1
  
  LOD front or middle office Treasury function with expertise in wholesale credit risk;
• Quantitative mindset and education;
• Advanced Excel skills (formulas, pivot tables, ideally VBA or Power Query);
• Advanced Bloomberg experience (Excel API and downloading and organising of Bloomberg data to assist in analysis and monitoring of performance);
• Experience working with credit stress testing, showing understanding of how losses are modelled and accounted for, for mortgage and consumer credit portfolios.
• Previous experience at a rating agency analysing RMBS & Consumer ABS would be ideal;
• Strong experience of model development, ideally working with languages such as Python and SQL;
• Understanding of regulatory requirements for wholesale credit risk;
• A general understanding of financial markets and bank regulatory capital risks/stress testing with an interest to develop skills in these areas;
• Flexible and adaptable; must be able to juggle multiple competing…