Risk Specialist Program

Duration: 12-24 months
Location: Sydney

• Program overview

  The Risk Graduate Program provides you with the opportunity to work in various business teams through a series of rotations. You will work within one of two streams of the Risk Graduate Program either within Group Risk or one of the business unit Risk teams. Within Group Risk you'd have an enterprise-wide focus, or within the Business and Consumer Banking division you would have a business unit risk focus.

  Some of the business groups you can rotate through are:

  • Enterprise Risk Analytics uses statistical and mathematical skills, critical reasoning and knowledge of Westpac's operations to provide risk management analysis, tools and policy advice. It is responsible for provisioning, capital allocation and co-ordination of the portfolio management process
  • Operational Risk and Compliance supports business units across Westpac by providing operational risk and compliance information and insights that lead to actionable advice. It also manages Westpac's regulatory relationships and encompasses Enterprise Risk Reward & Risk Appetite which is responsible for ensuring that the business decisions made maximise the risk and reward trade off
  • Market Risk is responsible for independently calculating and reporting Value at Risk (VaR), monitoring of both structural and VaR exposures against limits, approving limits within delegated authority, reviewing and maintaining market risk policies, ensuring the integrity of market risk measurement models, validating financial markets pricing models and pre-approving limit excesses within delegated authority
  • Credit Risk focuses on credit policy, governance, strategic oversight and relationship management and is also responsible for overseeing the production of model validation reports on the management of model risk (credit, market and operational) in each business unit
  • Risk Operations provides critical information through risk data, analysis and reporting to facilitate strategic portfolio decisions which impact on the risk profile of the group's exposures. Risk Operations is also responsible for risk governance

• What we're looking for

  You're currently a Commerce, Finance, Business, Engineering, Mathematics or Actuarial student who has taken the opportunity to enhance your leadership skills by being involved in extra curricular activities. You are a 'people' person who can comfortably communicate with all levels of management and enjoy working as part of a motivated team. You strive to continually improve the way you do things and enjoy going that 'extra mile'.

• Job description

  As a Westpac Risk graduate, you will gain exposure to increasingly crucial risk management practices required for the success of modern financial institutions. You will be involved with a wide spectrum of work that will allow you to develop both qualitative and quantitative skills. The type of work you may be involved in could range from:

  • Applying quantitative techniques to model the operational risk capital required by the enterprise
  • Working on the dealing floor to manage the market risks of financial markets and monitor Value-at-Risk
  • Being an integral part of validating models from throughout the Bank
  • Designing and developing ethics policies, and other tools to support risk decisioning
  • Investigating compliance issues and breaches
  • Regulatory liaison
  • Consolidating reporting of the group's credit risk information to both internal and external stakeholders including Westpac's Board

  These are only some of the responsibilities involved while the graduate is on the one to two year rotational program. Each rotation will have its own specialised role and objectives.

• Rotation

  A rotation is the time you'll spend in any one business team. The Risk Specialist Program enables you to work in various business teams through a series of four rotations either over a one or two year period. The rotations will vary depending on the stream you work in. This program will lead you to a permanent role that will continue to develop your technical and leadership skills.

• Rewards/Benefits

  We offer a very competitive graduate salary. You'll enjoy generous staff benefits including financial product discounts and health and lifestyle benefits. And if you don't live in Sydney, we'll help you move.

• Career path

  Risk offers you a great range of career options at the end of the graduate program. For example, you may work as a Consultant in the Operational Risk Team or as an Analyst in Market Risk or Enterprise Risk Analytics. There are opportunities to remain in Risk working with an enterprise wide focus or to move into any of the business areas.

• Support and training

  During your graduate program we'll work with you to bring out your best and encourage you to grow and develop. You'll have the support of your Mentor who will give career management advice throughout the year and guide you on which rotation opportunities would be best for your development and career aspirations. As well as on-the-job development opportunities, we also provide training throughout the year. You'll participate in a training curriculum specifically designed to help our graduates make the most of their graduate year.

  Your Graduate Manager is a central point of contact for you and will support you through the duration of your program.

  Your Buddy, an ex-graduate, is a great person to help introduce you to our organisation and will help you get to know the in's and out's of working at Westpac.

• Background

  Risk is the team that drives enterprise wide risk culture, frameworks and decisioning for maximum performance in line with risk appetite. Risk's purpose is to make risk-taking a competitive advantage, deliver better solutions for customers, protect and grow earnings and build shareholder value. Our core principles guide us in forming the best solutions for risks that arise and in exercising good governance of our activities.

  Effective risk management sets us apart from our competitors and gives us the edge we need to be a market leader. Sound risk management principles enable us to achieve organisational goals and objectives, as the better we understand and manage risk, the greater our contribution to economic profit.

* To be eligible to apply for this program, the candidate must be an Australian Citizen or Australian Resident.