Senior Manager, Prudential Risk

About the role

This is a technically demanding, high-visibility role at the core of IG's second line of defence . As Senior Manager, Prudential Risk, you will be IG's in-house expert on capital adequacy and prudential regulation - owning the ICARA process end-to-end and ensuring IG's regulatory submissions to the FCA meet the highest standards of rigour . Working in close partnership with Finance and the wider Risk function, you will translate complex regulatory requirements into well-governed capital planning processes. This is a role for a rare combination: quantitative capability, regulatory fluency, and the credibility to engage confidently with the FCA, senior management, and Board-level committees.

Responsibilities

• ICARA Process Execution
• Own and execute IG's Internal Capital Adequacy and Risk Assessment (ICARA) process end-to-end, coordinating risk assessments, wind-down analysis, and capital and liquidity adequacy assessments across the Group.
• Design and run stress testing programmes that credibly challenge IG's capital position under a range of macroeconomic, market, and idiosyncratic scenarios.
• Produce the ICARA document to a standard that withstands FCA scrutiny, incorporating clear narrative, robust quantitative analysis, and well-evidenced conclusions.
• Drive continuous improvement of the ICARA methodology , embedding lessons from regulatory feedback and evolving best practice.
• Capital Modelling & Quantitative Methodology
• Develop and maintain IG's capital models, covering Pillar 1 own funds requirements, Pillar 2 add-ons, and operational risk capital quantification.
• Build and refine quantitative risk methodologies, including scenario analysis frameworks, tail loss modelling, and sensitivity analysis tools.
• Maintain model documentation to the standard required for internal governance and regulatory review, ensuring assumptions, limitations, and calibration are clearly articulated.
• Monitor MIFIDPRU developments and FCA thematic reviews, assessing implications for IG's capital models and ensuring methodologies remain current.
• Regulatory Submissions & Engagement
• Prepare regulatory submissions and associated documentation for FCA requirements, including ICARA submissions, regulatory returns, and responses to supervisory requests.
• Act as subject matter expert during regulatory examinations and thematic reviews, presenting IG's capital assessment approach with clarity and authority.
• Draft IG's responses to FCA consultations relevant to prudential regulation, identifying practical implications and setting out well-reasoned positions.
• Maintain current knowledge of MIFIDPRU, CRD/CRR developments, and FCA supervisory priorities, translating requirements into actionable internal guidance.
• Capital Planning & Finance Partnership
• Partner closely with Finance on capital planning, forecasting, and ongoing monitoring, ensuring risk and finance perspectives are well integrated in IG's capital management process.
• Produce regular capital adequacy MI for Risk Committee and Board, providing clear analysis of headroom, sensitivities, and emerging risks to the capital position.
• Support strategic initiatives and M&A activity by providing capital impact assessments and scenario modelling as required .
• Contribute to wind-down planning and recovery analysis, ensuring capital and liquidity adequacy under stress is well-evidenced and clearly documented.
• Key Deliverables & Outcomes
• An ICARA process and document that is robust, well-governed, and consistently meets FCA expectations.
• Capital models and quantitative methodologies that are credible, well-documented, and subject to appropriate governance .
• Regulatory submissions of the highest quality, produced on time and to standard.
• A stress testing programme that provides genuine insight into IG'

Additional Information

Job Title Senior Manager, Prudential Risk Job Description About IG Group IG is a FTSE 100 fintech operating across five continents, serving over 1.3m customers and handling billions of dollars in transactions - built on scale, trust, and proof. We didn't pivot to innovation; it's how we've always operated. What that means for the people who work here is real: genuinely complex problems to solve, the technology and resources to tackle them properly, and the kind of scope that's rare in established businesses. The bar is high - bring a curious and forward-thinking mindset and we'll give you the platform to define what comes next. Join us at IG - the future gets built here. Our core values - Champion the Client , Learn Fast Together , and Raise the Bar - drive our commitment to delivering innovative technology and exceptional client service. IG Group is undergoing a significant transformation, led by CEO Breon Corcoran and a refreshed senior leadership team. Prudential risk management is central to this journey - enabling IG to grow with confidence, maintain strong regulatory standing, and deploy capital intelligently across its global footprint.

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