Portfolio Jobs

Who are Allica Bank?

Allica is the UK’s fastest growing company - and the fastest-growing financial technology (fintech) firm ever. Our purpose is to help established SMEs, one of the last major underserved opportunities in fintech. Established SMEs are the backbone of local communities - representing over a third of our economy - yet have been largely neglected both by traditional high street banks and modern fintech providers.

Department Description

Prudential regulation drives business decisions. As we enter a period of huge change in the regulatory environment, we are looking for a Head of Prudential Regulation who can help to ensure we not only adhere to regulation and policy but also identify opportunities which any significant change brings.

The Head of Prudential Regulation will work with the CFO and other members of the senior leadership team to ensure that we are compliant with current regulation and have good visibility on future regulatory change and the implications for Allica and the sector upon which we focus.

As a regulated bank it is vital that we not only have a clear view on current and future prudential regulation, but also try to shape that regulation. For example, Allica has taken a leading industry role in lobbying for changes to CP16/22, the PRA’s proposals for implementing Basel 3.1. As part of this we have had meetings and calls with senior politicians and HM Treasury officials; arranged a roundtable with the APPG for Challenger Banks, PRA and other UK banks; and commissioned a report from research firm Oxera on the implications of CP16/22 for the UK SME sector https://www.oxera.com/wp-content/uploads/2023/03/Impact-of-the-PRA-proposals-for-Basel-Standards-in-UK_FINAL_edit.pdf. We also led the drafting of the standardised approach to credit risk section of UK Finance’s response to the PRA.

Role Description

• Lead external representation of the bank's interests to key stakeholders including the Prudential Regulation Authority, HM Treasury and UK Finance as well as other industry bodies.
• Provide advice and guidance to the internal stakeholders on all areas of prudential regulation and policy, especially concerning capital and liquidity
• Keep abreast of current and future developments on all areas of prudential regulation and policy and advise the bank on potential opportunities and threats which such changes present.

Principal Accountabilities

Horizon Scanning

• Ensure the business is well informed of current and future regulatory policy developments which would impact the bank’s ability to achieve its strategic objectives. Conversely, the successful applicant will be proactive in recommending commercial opportunities which changes to regulation and policy may offer
• Allica has taken a very active role in attempting to shape UK Prudential Regulation, particularly with regards to the implementation of Basel 3.1. The successful candidate will continue in the same vein by:
• Using their industry network to keep abreast of regulatory and policy developments
• Continuing to lobby where appropriate either on Allica’s own account or by working with trade bodies and peers
• Respond to Discussion Papers and Consultation Papers where applicable
• Lead contact for industry trade bodies
• Ensure the impact of these regulatory and policy changes are understood across the senior leadership committees in the Bank

Product/Corporate Development

• Advise on the prudential regulatory implications of new products and M&A
• Support the Financial Planning and Analysis team with respect to prudential regulation and policy, especially the capital plan.

ICAAP/ILAAP

• Provide advice and support regarding the bank’s key regulatory processes and documents including ICAAP, ILAAP, Recovery Plan and Solvent Exit Plan

Regulatory Reporting

• Although this role will not be responsible for the production of regulatory returns, it will advise the regulatory reporting team of any prudential policy changes that may impact regulatory reporting

Personal Attributes & Experience

• Deep subject matter expertise in terms of UK Prudential Regulation gained within a banking /lending environment or advisory firm
• As well as demonstrating subject matter expertise, also demonstrating the ability to apply that expertise commercially to the business, in other words, not just interpreting policy but applying that to the business to help achieve our strategic objectives
• Proven experience in a similar role where taking ownership and being a self-starter are vital

Working at Allica Bank

At Allica Bank we want to ensure our employees have the right tools and environment in which to succeed in their role and in support of our customers.

Our employees are at the heart of everything we do, so our benefits are designed with you in mind:

• Full onboarding support and continued development opportunities
• Options for flexible working
• Regular social activities
• 25 days holiday – with the option to Buy/Sell
• Pension contributions
• Discretionary bonus scheme
• Private health cover (with the option to add family members)
• Life assurance
• Income Protection
• Family friendly policies including enhanced Maternity & Paternity leave
• Season ticket loans

Don’t tick every box?

Don’t worry if you don’t have all the skills or requirements listed on the job description. If you think you’ll be a good fit, we’d still love to hear from you!

Flexible working

We know the ‘9-to-5’ isn’t right for everyone. That’s why Allica Bank is fully committed to flexible and hybrid working. Please let us know what is best for you and, if we can, we will do our best to accommodate.

Diversity

We’re a diverse bunch here at Allica, with all kinds of experiences, backgrounds and lifestyles. Our openness and differences make us stronger, and we want everybody to feel comfortable bringing as much of themselves to work with them as they like