Financial risk manager
Where will you end up?
You’ll become part of our second-line risk management department. Your main focus will be on credit and climate risks. But because it’s a small team, you’ll deal with a broad spectrum of financial risks.
At full capacity, the financial risk team consists of four professionals, including a team lead who coordinates and monitors the team’s activities. The team is complemented by two operational risk managers and an information security officer. All risk managers report to the head of the department. We interact informally and very non-hierarchically. Interaction with the CRO and members of the board is quite common.
As a second-line risk manager, you operate and report independently of the first line, and give both solicited and unsolicited advice.
About us
Brand New Day is an online pension bank. Our clients buy individual pension products, like savings annuities or a tax-efficient savings or investment account. We also offer regular savings accounts and term deposits, where clients might save for a university education or a world trip. Subsequently, Brand New Day invests mainly in relatively safe loan portfolios and tradable investments.
The investment market is very big and competitive and as a fintech we compete in the loan markets. We consider ourselves entrepreneurs, which sets us apart from established bankers. Brand New Day actively seeks new opportunities that enable rapid growth, with a can-do attitude and a lack of internal politics.
What will you do?
Brand New Day does not originate loans and exposures itself, but has contracts with third parties that comply with our lending framework. You’ll deal mainly with the credit and climate risks in our investment portfolios. Our main exposure is to residential mortgages and SME loans, both directly and through loans to special purpose vehicles (securitizations) as well as government bonds.
Brand New Day is actively expanding its investable universe. Investment management (first line) and risk management (second line) work closely together to identify new asset categories to invest in, and onboard these in a controlled manner. This means you make sure we identify all risks and create appropriate risk frameworks to manage them.
Our investment management and treasury teams manage the financial risks. As second-line risk manager, you’ll be responsible for the risk framework (such as financial risk policies and procedures and risk appetite statements) they operate within. You will make sure this framework meets the regulatory (De Nederlandsche Bank and the European Banking Authority) requirements and guidelines. You’ll monitor our credit risk profile by producing and interpreting our credit risk dashboard (reporting), and present this to our credit and climate committee. You’ll perform risk analyses on new trends and risks in our portfolio.
We operate under the regulatory standardised approach, but we use models and methodologies for monitoring, stress testing and making ECL calculations (PD, LGD and EAD). Therefore, you will need to have quantitative skills to maintain and improve our models and methodologies and to review our models. You do not have to be a quant. An important part of your job will be to perform risk analysis for regulatory reports such as ICAAP, SREP and a recovery plan. You’ll be involved in on-site inspections from DNB and resolving any findings they may have.
You will also participate in various projects to improve our data quality and to automate and develop our risk reports. Because it’s a small team, you’ll have oversight of all financial risks instead of one particular area. And aside from credit risk, you may occasionally function as a back-up and sparring partner in the interest rate and liquidity risk domains. It really is a versatile position!
Vereisten
This is what we expect from you:
• A degree with a quantitative component
• Sound knowledge of credit risk analysis
• About 5 to 10 years of relevant working experience within the financial sector
• Analytical skills and an eye for detail
• Strong communication skills, both oral and written
And this is what we have to offer
- A competitive salary that reflects your experience and expertise
- 8% holiday allowance
- A pension plan
- 25 days annual leave + 1 extra day for a celebration
- An informal organization without political games or hierarchical posturing
- A lot of independence and freedom to work to the max of your ability
- A workplace within walking distance from Amsterdam Bijlmer ArenA station
- Opportunities for personal and professional development and trainings or courses to stay up-to-date in your field (€ 1,000 per year)
- The opportunity to work remotely for two days per week + one full week annually (two weeks for expats who visit family)
- € 25 per month to use any way you like via the Alleo platform
- Weekly free lunch at the office
- And perhaps not unimportantly: fun drinks and good parties
