Supervisory Risk Specialists & Regulatory Operations
Interns, Industrial Placements, First Degree Graduates
SRS is responsible for:
Providing deep technical expertise in specific risk disciplines. It’s our role to identify, analyse and mitigate material risks to the safety and soundness of Prudential Regulation Authority-regulated firms. These include deposit takers, investment banks and insurers. Our team focuses on the largest and most systemically important firms, and includes experts in: • Market risk • Credit risk • Operational risk • Liquidity risk • Capital.
What big issues might I be working on in SRS?
You will help us meet our biggest challenge – delivering the firm-specific elements of the annual stress test of the largest banks in the UK. This high-priority project involves looking at all aspects of the banks' P&L and balance sheet evolution under a hypothetical stress scenario. You may also get involved in policy projects such as the EU’s Capital Requirements Directive IV or our recent work on the housing market.
What sort of things could I do here?
We like our graduates to experience more than one risk specialism, so we provide exposure to a number of different specialist areas. This approach has seen recent graduates:
- Helping develop new stress testing methodologies
- Supporting the development of the Help to Buy scheme
- Involved in negotiating with the European Banking Authority
- Reviewing the impact that changes in Capital Requirements Directive IV will have on firms’ capital requirements.
What could I be doing day-to-day in SRS?
Expect daily interaction with experienced professionals within the division across a wide range of risk types. Analysing bank risk on both an individual and cross-firm basis will be a key part of your work, and will see you taking part in meetings with senior figures in regulated firms to probe, challenge and understand their risk profiles. And you’ll prepare persuasive and succinct reports on your findings, judgements and recommendations to senior colleagues.
Regulatory Operations is responsible for:
Regulatory operations supports and compliments the work of the Supervision and Policy areas. We ensure that the PRA can execute its operational responsibilities to ensure the smooth running of the organisation. Our part of the Directorate provides oversight and support through the following divisions: Chief Operating Officer’s Unit, Change and Data Management, Authorisations, Supervisory Oversight, Secretariat and governance functions.
What sort of things could I do here?
We like our graduates to get broader experience than a single functional area, either experiencing additional roles within regulatory operations, supervision or a complimentary discipline. This sort of thing has seen those on early careers programmes:
- Ensuring business as usual activity and the PRA's change portfolio is effectively planned
- Working in a governance or central control function
- Managing and analysing feedback from firms to the PRA
- Performing reviews to evaluate supervisory effectiveness
- Working alongside supervision on authorising firms and considering changes in control
- Responding to how structural reform is impacting authorisations, permissions and passporting
What could I be doing day-to-day in Regulatory Operations?
Expect daily interaction with experienced professionals within the division and with other Directorates. You will be supporting the Supervision Directorates in mitigating the risks to the PRAs objectives posed by firms we supervise, changes in structure driven by the firms or in response to policy changes, and changes in PRA infrastructure. You will have the opportunity to take part in meetings with senior stakeholders externally and internally depending on your role. You will prepare persuasive and succinct documentation on your findings, judgements and recommendations to senior colleagues.