IG Group
Senior Manager, Prudential Risk
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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.
About The Opportunity
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.
Key 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.
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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's capital resilience across a range of scenarios.
- Strong, trusted relationships with Finance enabling integrated and forward-looking capital planning.
- Clear, actionable capital adequacy MI that supports informed decision-making at committee and Board level.
Leadership Success Profile
Professional Experience
- Significant experience in prudential risk, capital management, or a related quantitative risk discipline within financial services, gained in a second-line, regulatory, or specialist advisory capacity.
- Deep, hands-on knowledge of MIFIDPRU and the ICARA process, including capital adequacy assessment, wind-down analysis, and stress testing.
- Proven track record of developing and maintaining capital models and quantitative risk methodologies, with strong model governance practices.
- Experience preparing regulatory submissions and engaging directly with the FCA or PRA on prudential matters.
- Demonstrated ability to partner with Finance on capital planning and forecasting processes.
- A relevant professional qualification (e.g. CFA, FRM, ACA, or equivalent) is advantageous but not essential.
Skills & Attributes
- Quantitatively strong — comfortable building and stress-testing models, interpreting outputs critically, and communicating uncertainty with appropriate nuance.
- Regulatory fluency — able to navigate complex rulebooks and translate technical requirements into clear, practical guidance for a business audience.
- Precise communicator — produces written work of the quality required for regulatory submission and Board-level consumption.
- Commercially aware — understands business drivers and calibrates capital assessments to reflect real-world constraints and strategic priorities.
- Collaborative and influential — builds trusted cross-functional relationships, particularly with Finance, and operates effectively without direct authority.
- Follows IG's five performance principles: Lead and Inspire, Think Big, Champion the Client, Deliver at Pace, and Raise the Bar.
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Why IG Group?
- Technical Depth & Regulatory Relevance: Own a genuinely complex prudential risk remit at a regulated FTSE 100 firm, with direct FCA engagement and high visibility across Risk and Finance leadership.
- Strategic Consequence: Your capital analysis and ICARA outputs feed directly into Board-level decisions on capital deployment and regulatory standing — a role where analytical quality has real business impact.
- Evolving Regulatory Landscape: Engage with a fast-moving prudential agenda including MIFIDPRU embedding, operational resilience capital requirements, and emerging FCA supervisory priorities.
- Collaborative Environment: Work alongside a strong Risk and Finance community in a business that values rigour, pragmatism, and continuous improvement in equal measure.
- Competitive Rewards: A competitive package including salary, performance-related bonus, and a comprehensive benefits suite within a dynamic, growth-oriented global business.
The perks
It really is more than a job. We’ll recognize your talent and make sure that you can still have a life – at work, and outside of it. Networks, committees, awards, sports and social clubs, mentorships, volunteering opportunities, extra time off… the list goes on.
- Competitive salary
- Flexible Benefits Package on top of your salary (12%)
- Private medical cover for you and your family
- Life insurance
- Contribution to gym memberships
- 25 Days holiday, with 1 additional day off to celebrate your Birthday & 2 additional days off a year for voluntary work (28 in total)
- The option to buy or sell holiday days
- Unlimited access to the LinkedIn Learning Platform
- A comprehensive global and local onboarding process
- Employee-led LGBTQ+, Women’s, Black and Parents & Carers networks with an annual budget for organising events & projects that foster an open, diverse and inclusive culture
- Option to participate and create ESG initiatives based on IG Brighter Future Fund
- Enhanced primary (maternity), secondary (paternity), and shared parental pay and leave, as well as a range of support and benefits for parents
- Study package to support completion of the CGI qualification (if part qualified).
Number of openings
1
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