Head of IRB

Investec – Where Out of the Ordinary Happens

At Investec, we do things differently. We're a leading international bank and wealth manager built on a culture of curiosity, entrepreneurial spirit and human connection. Ideas are heard, ambition is celebrated, and impact is encouraged. As part of a team that challenges convention and strives for outperformance, you'll help shape bold solutions for clients who expect something more than the ordinary.

About the team:

The Head of IRB is responsible for the end-to-end oversight of and adherence to Investec's IRB framework and is ultimately accountable to the Senior Management Function (SMF). The role ensures that IRB frameworks, models, and processes meet regulatory requirements (including CRR, PRA PS1/26, and associated supervisory statements such as SS3/24 and SS4/24) while enabling best practice within credit risk and capital management.

What will I be doing?

IRB Framework Design

• Lead the end-to-end development of the IRB framework, including the delivery and ongoing use of regulatory-compliant IRB rating systems, and their underlying models (PD, LGD and Slotting), for regulatory reporting and wider risk management.
• Maintain the suite of IRB policies, standards and the IRB Target Operating Model, ensuring alignment with IRB regulation and UK best practice.
• Oversee the integration of IRB models into credit decisioning, risk appetite, ICAAP, stress testing, and capital management processes.

Regulatory Engagement and IRB Approval

• Act as the primary point of responsibility for IRB regulatory approval, including:
  • Preparation and governance of the IRB modular application process, including leading the production of submission artefacts.
  • Liaising with the IRB Programme team to ensure maintenance of the IRB Programme plan.
  • Oversight of internal IRB training delivery, coordination of PRA requests, interviews and interactions related to IRB, alongside the Prudential Advisory & Oversight function.
  • Providing support and oversight of the Bank's Regulatory Self-Assessment process.
• Ensure the IRB framework evolves in line with changing regulatory expectations.
• Liaise with Prudential Advisory & Oversight to provide responses to IRB-related queries from the regulator.

Model Development and Lifecycle Management

• Oversee the IRB model lifecycle, including:
  • Model design and development
  • Validation finding remediation and approval process
  • Implementation and monitoring
  • Periodic review and redevelopment
• Oversee a high-performing IRB model development team:
  • Set clear objectives, development plans, and performance standards for the team
  • Foster a culture of technical excellence, regulatory discipline, and strong documentation
  • Elevates documentation standards, auditability and model lifecycle discipline (development, implementation, monitoring, redevelopment) to reduce validation findings and regulatory friction
  • Ensure appropriate resourcing, skills development, and succession planning
• Liaise with IRB Model Owners to support their responsibilities across the model lifecycle.
• Ensure compliance with the applicable internal policies and standards.

Governance, Use Test, and Stakeholder Management

• Ensure IRB models are embedded in business decisioning and capital processes (risk appetite, ICAAP, stress testing, pricing), driving a “use test” culture across the first and second lines of defence.
• Participate in the relevant model governance, credit risk, and capital committees.
• Oversight of ongoing use & experience test assessments and compliance.
• Builds trusted partnerships with CRO, Prudential Advisory & Oversight, Credit Risk, Finance/Capital, and Model Risk to accelerate IRB approval and sustainable model use.

Team & People Development

• Champions a culture of performance, inclusion and accountability that reflects Investec's purpose, values and leadership behaviours; sets the tone for high-quality risk judgement and client‑centricity.
• Promote professional development and progression and mobility within the team.

What do I need to bring?

Technical & Professional Experience

• Extensive experience in managing and using IRB models within a banking environment for both retail and wholesale exposures across the model lifecycle.
• Extensive experience with the PRA IRB modular submission process and leading regulatory interactions.
• Understanding of the implications of IRB on Capital Stress Testing and key regulatory activities and disclosures, such as ICAAP, UK Bank Capital Stress Test and Pillar 3 processes.
• Excellent written and oral communication skills. Ability to articulate complex technical concepts to non-technical audiences in a clear, engaging and concise manner.

Leadership & Personal Attributes

• Strong leadership and people management capability.
• Ability to balance technical rigour, regulatory compliance, and commercial objectives.
• High standards of professional judgement and integrity and embrace the philosophy of treating our customers fairly (compulsory).
• Results-oriented, focused on achieving targets and deadlines, and driving performance while managing risk effectively.
• Adaptable and comfortable navigating a fast-paced, dynamic environment and responding to changing market conditions and complex change.

Preferred Qualifications

• Advanced degree in Quantitative Finance, Statistics, Econometrics, Mathematics, or related field.
• Professional qualifications (e.g. CFA, FRM) advantageous.

Mandatory Skills and Attributes

• To act with integrity at all times and to embrace the Consumer Duty Principles and the philosophy of treating customers fairly (compulsory)
• Regulatory Knowledge as applicable to the role (compulsory)
• Coaching and Assessment (compulstory for Managers and Supervisors)

Any other attributes that would be helpful, but not essential to the role

• Regulatory Knowledge as applicable to role (compulsory).
• Investec specific knowledge: Knowledge of Investec procedures and compliance protocols.
• Good insight in processes and the ability to handle change management within both operational and finance environments.

What's in it for me?

At Investec, you'll be empowered to bring your authentic self, contribute new ideas, and grow alongside colleagues who share your drive for excellence. You will be part of a collaborative and creative culture where we encourage and are committed to sustainability across our global business. You will share in our purpose of creating enduring worth and together, we'll achieve things tomorrow that hardly seem possible today

As part of our collaborative & agile culture, our working week is 4 days in the office and one day remote. We believe that being together enables us to live our values and support our clients and communities in an extraordinary way.

Investec offers a range of wellbeing benefits to make our people feel healthier, balanced and more fulfilled in their lives inside and outside of work. You can find a list of our benefits here

Embedded in our culture is a sense of belonging and inclusion. At Investec we want everyone to find it easy to be themselves, and to feel they belong. It's a responsibility we all share and is integral to our purpose and values as an organisation. We believe that innovation thrives when everyone feels respected, included, and empowered to contribute.

We actively seek out diverse talent and foster an inclusive environment, encouraging applications from people of all backgrounds and experiences. Here, you'll find networks, benefits, and development opportunities designed to support your career journey, wherever it may lead.

If this role excites you but you don't meet every requirement, we'd still love to hear from you. Your unique perspective and experience could be exactly what we are looking for. Get in touch!

At Investec, we're deeply invested in our clients, our colleagues, and our communities. It's more than a mindset; it's how we show up every day.

Be part of something Out of the Ordinary.

Recite Me

We commit to ensure that everyone is fairly assessed during our recruitment process. To assist candidates in completing their application form, Recite Me assistive technology is available on our Careers pages. This can be accessed by clicking on the ‘Accessibility Options' link at the top of the page.

The Recite Me tool includes a screen reader, styling and customisation options, a series of reading aids, a translator and more.

If you have any form of disability or neurodivergent need and require further assistance in completing your application, please contact the Careers team at [email protected]who will be happy to assist.

Documents