Credit Risk Product Analyst
London/Hybrid
Contract to March 2027
Day rate from £600 via Umbrella Company DOE
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My client is one of the largest financial institutions headquartered in Japan, with an established presence across all consumer and corporate banking businesses. Through its subsidiaries and affiliates, they offer a diverse range of financial services, including commercial banking, leasing, securities, credit card, consumer finance and other services.
They are looking for an experienced Credit Risk Product Analyst on a contract to the end of March 2027. You will be working Monday to Friday, standard office hours with the occasional out of hours requirement in line with business needs, being office based 3 days a week, 2 days working from home.
Purpose of Job
The Credit Risk Product Analyst is a senior product leader responsible for shaping the strategy, design, and delivery of platforms supporting the end‑to‑end credit risk lifecycle across banking and markets businesses. The role partners with Credit Risk, Front Office, Treasury, Finance, and Technology to deliver robust capabilities for underwriting, limit & exposure management, collateral & margining, impairment, capital/RWA, and regulatory reporting-ensuring compliance with Basel/CRR, ECB/SSM, and PRA expectations.
Key Responsibilities
Strategic Product Leadership
Own the multi‑year product roadmap for Credit Risk platforms (wholesale/retail as applicable), aligning with Risk and business strategy.
Translate regulatory and business priorities into a clear backlog, investment cases, and target‑state architecture in partnership with Technology and Data.
Lead complex delivery workstreams from discovery to production, driving design, UAT, and rollout across regions and legal entities.
Mentor AVP/Analyst team members; set standards for requirements, design artefacts, and release governance.
Credit Risk Domain Expertise & Delivery
Counterparty & Wholesale Credit: Limits & hierarchy management, exposure calculation (PFE/EPE), SA‑CCR/IMM, collateral & CSA terms, margining, wrong‑way risk, credit risk mitigation (CRM), credit approvals & workflow.
Banking Book / Retail / Corporate: Origination & underwriting, credit scoring, PD/LGD/EAD model integration, collateral valuation, early warning indicators (EWIs), watchlist, provisions/impairment, and collections.
Lifecycle Controls: Obligor/Facility data quality, obligor rating processes, default identification & cure, recovery & workout data capture.
Partner with quants and risk managers to refine methodologies, parameterization, and exposure logic; validate functional outcomes against policy and model intent.
Regulatory & Capital Alignment
Ensure alignment to Basel III/IV and CRR/CRD for credit risk RWA (SA & IRB), CRM eligibility, large exposures, credit concentration, and counterparty credit risk (CCR).
Translate SA‑CCR, IMM/EAD, Default Risk definitions, and IFRS 9 impairment (ECL) into functional/technical requirements and robust controls.
Support ECB/SSM, PRA, and internal audit engagements: lead remediation plans, evidence packs, and sustainable control enhancements.
Oversee data and process readiness for ICAAP, stress testing, Pillar 3 disclosures, and regulatory change (e.g., Basel 3.1/"Basel IV").
Risk Data, Architecture & Controls
Drive strategic data sourcing and lineage across Client/Obligor, Facility, Collateral, Trade, and Reference Data domains.
Define golden sources, reconciliation rules (Risk vs Finance vs FO), and control points for exposure, RWA, and ECL calculations.
Champion standardised data models, metadata, and traceability to support model risk management, auditability, and explainability.
Lead decommissioning/modernisation efforts, API enablement, and cloud/data‑platform adoption where applicable.
Stakeholder & Governance Engagement
Act as primary interface between senior Credit Risk leadership, Front Office, Finance, Treasury, Technology, Model Risk, and Data Governance.
Prepare and deliver materials for risk governance forums, architecture councils, and change boards up to MD‑level.
Run workshops, training, and change‑management for major releases; ensure adoption and measurable business outcomes.
Experience and Skills
Significant experience at a senior level in Credit/Credit Risk, Product Management, or Risk Technology within a regulated bank or markets environment.
Deep understanding of credit risk frameworks: wholesale/retail underwriting, limits & exposure, collateral/margining, impairment (IFRS 9), CCR (SA‑CCR/IMM), and credit RWA (SA/IRB).
Proven track record delivering complex risk platforms (e.g., Moody's RiskAuthority/RiskFoundation, AxiomSL/Wolters Kluwer for regulatory reporting, nCino/Origination platforms, Murex/Calypso for CCR).
Strong analytical and documentation skills; ability to convert policy, model, and regulatory requirements into actionable functional/technical designs.
Excellent stakeholder management and communication skills; comfortable influencing senior leaders and navigating global programmes.
Agile delivery experience; familiarity with model risk governance and data controls preferred.
Candidates must show evidence of the above in their CV to be considered.
Please be advised if you haven't heard from us within 48 hours then unfortunately your application has not been successful on this occasion, we may however keep your details on file for any suitable future vacancies and contact you
