Quantitative Analyst – Climate and ESG Risk London, England
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About the job
Job summary
To perform its statutory function, UKEF must assume significant credit risks on behalf of UK exporters. Consequently, the financial success of the Department is crucially dependent upon sound credit risk assessment, particularly given the elevated default risks associated with emerging markets, and portfolio analysis. UKEF recognises climate and ESG risk as potentially material risks for individual transactions and UKEF is strengthening its climate risk management accordingly. This function sits within the Climate and ESG Risk Team that works across the Risk Management Group (RMG) and reports to the Deputy Chief Risk Officer (CRO).
The Climate and ESG Risk Team leads on the following areas:
1. Climate and ESG Risk related portfolio analysis and stress testing
2. Climate and ESG Risk related credit risk analysis
3. Climate and ESG Risk related reporting
4. Implementation of the climate risk management related aspects of Task Force on Climate-Related Financial Disclosures (TCFD)
5. Related policy advisory and capacity building within RMG and UKEF.
Job description
Person specification
Responsibilities will include but are not limited to:
1. Supporting development and maintenance of credit risk models that are required for scenario analysis and stress testing of UKEF’s portfolio concerning climate and ESG risk.
a. Work alongside the portfolio modelling team to understand how the climate stresses fit into the wider UKEF stress testing exercises.
b. Routine update of these models including data reviews.
c. Documentation of models to ensure they can be run and maintained in the future.
2. Review current and emerging data sources and ensure UKEF is using appropriate data sources for ESG and climate risk modelling.
3. Input into the development of the in-house view of climate and ESG scenarios including both physical climate risks and transition risk.
4. Build subject matter expertise on Climate and ESG model development, keeping at the forefront of developing market trends and approaches, ensuring that best practice is adhered to. This should include reading relevant academic papers, discussion pieces and attending seminars and conferences.
5. Horizon scanning and literature reviews for climate and ESG related risks. Keeping up to date with best practice in modelling and analysis of climate and ESG risks.
6. Liaise closely within the Risk Management Group particularly with the credit analysis sector teams and the Climate and ESG analysts on areas of policy development and the impact of Climate and ESG on transactions and with the portfolio modelling/operational research team.
7. Support the development of recommendations for strategic initiatives with teams across UKEF including Strategy, Policy and Climate Change Directorate, Environmental and Social team, Business Group, Legal and Compliance Group.
8. Support the collaboration with the Business Insight Centre, IT and other operational teams to ensure the models and associated data are stored and fit for purpose for accurate corporate reporting.
9. Support the engagement with key internal and external stakeholders such as other Government departments and committees such UKEF’s Export Guarantee Advisory Committee, commercial banks, global rating agencies, ECAs and other relevant market participants.
10. Build expertise in Task Force for Climate Related Financial Disclosures (TCFD) and in future emerging legislation and regulation such as the Taskforce on Nature-related Financial Disclosures (TNFD), relevant IFRS’s and support related tasks within the Team.
11. Support the timely delivery of robust analytical outputs and lead on tasks and smaller projects.
This list is not exhaustive; you may be required to carry out additional duties according to business need.
Qualifications
Behaviours
We'll assess you against these behaviours during the selection process:
- Seeing the Big Picture
- Making Effective Decisions
- Delivering at Pace
- Managing a Quality Service
Technical skills
We'll assess you against these technical skills during the selection process:
- A short presentation (this will be on a topic determined by UKEF and will need to be prepared in advance).
Benefits
- Learning and development tailored to your role
- An environment with flexible working options
- A culture encouraging inclusion and diversity
- A Civil Service pension with an average employer contribution of 27%
Things you need to know
Selection process details
All applications will be sifted against our minimum selection criteria outlined in the personal specification. In addition to this, applicants will also be asked to complete an on-line ability test, this must also be completed prior to the deadline for your application.
All applications will be sifted against our minimum selection criteria outlined in the personal specification.
You will be either asked in the relevant sections of the application form to provide examples of evidence against a range of the success profiles (refer to appendix 1). Applicants are asked to apply with a 750 word (maximum) personal statement, you should fully articulate how you meet the essential criteria outlined in the person specification.
For the initial sift your application will be evaluated against:
- Experience
- Ability
- Technical
- Behaviours
- Behaviours/Technical/Experience - a formal panel interview where you will be interviewed across all four behaviours highlighted and your technical ability to successfully carry out the role.
- Technical - a short presentation (this will be on a topic determined by UKEF and will need to be prepared in advance).
To meet the National Security Vetting requirements for this role you will need to have resided in the UK for a minimum of 3 out of the past 5 years. If you do not meet this requirement, you would not be eligible for SC clearance and therefore not eligible to apply for this role.
New immigration guidelines - What you need to know - GOV.UK
Feedback will only be provided if you attend an interview or assessment.
Security
See our vetting charter (opens in a new window).
Nationality requirements
This job is broadly open to the following groups:
- UK nationals
- nationals of Commonwealth countries who have the right to work in the UK
- nationals of the Republic of Ireland
- nationals from the EU, EEA or Switzerland with settled or pre-settled status or who apply for either status by the deadline of the European Union Settlement Scheme (EUSS) (opens in a new window)
- relevant EU, EEA, Swiss or Turkish nationals working in the Civil Service
- relevant EU, EEA, Swiss or Turkish nationals who have built up the right to work in the Civil Service
- certain family members of the relevant EU, EEA, Swiss or Turkish nationals
Working for the Civil Service
We recruit by merit on the basis of fair and open competition, as outlined in the Civil Service Commission's recruitment principles (opens in a new window).
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