James Bowpitt

Before diving into this example, it’s important to stress that this is a hypothetical illustration, not a prediction. Career progression in regulatory reporting, like in any field, depends on a multitude of personal and organisational factors. These include an individual’s work ethic, technical competence, relationship-building skills, appetite for responsibility, and even timing and luck. The […]

Regulatory reporting roles in London have evolved significantly in the past five years, both in scope and in compensation. There’s much more of a focus on technology skills than there were in the past. The analysis below, with original data from Robert Walters, shows average base salaries (excluding bonuses, benefits, and other perks) for permanent

Introduction and Background On the 24th March 2025, the Bank of England (BoE) published the key elements of the 2025 Bank Capital stress test. The BOE has progressively refined its bank stress testing framework over the past decade. In 2022, it formalized a Stress Test Data Framework (STDF) to standardize data submissions for its Annual

Update: On 17th April 2025, the PRA paused the process and withdrew the Modification by Consent (MbC). The PRA cited the need to address a number of technical comments and requests for clarification as the reasoning.Therefore, firms do not need to modify their approach to recognising 3rd country 2A covered bonds. On the 8th April,

The Term Funding Scheme with additional incentives for SMEs (TFSME) was introduced by the Bank of England in March 2020 as a response to economic pressures during the Covid-19 period. It provided four-year term funding to banks and building societies at interest rates at or very close to Bank Rate. Each participating institution was granted

The Prudential Regulation Authority’s (PRA) Supervisory Statement SS12/13, which sets out expectations in relation to counterparty credit risk (CCR), underwent only minor revisions between its previous near-final draft in December 2023 and 2024 near-final versions. While the overall structure and regulatory posture remain largely unchanged, several notable amendments are evident, particularly in the areas of

Between 2019 and 2024, the Prudential Regulation Authority (PRA) revised its Supervisory Statement on Credit Risk Mitigation (CRM) to reflect the UK’s near-final implementation of Basel 3.1, regulatory streamlining post-Brexit, and a sharpened supervisory focus on residual risk management. While the 2019 statement provided a detailed and at times transitional framework aligned with retained EU

The purpose of this Supervisory Statement (SS) is to set out the Prudential Regulation Authority’s (PRA) expectations for minimum underwriting standards that firms should apply when offering buy-to-let (BTL) mortgage contracts. These expectations apply to lending that is not already regulated by the Financial Conduct Authority (FCA) and aim to ensure prudent credit assessments, regardless

This post presents a detailed comparison of the Prudential Regulation Authority’s (PRA) Supervisory Statement SS10/13 on the Standardised Approach to Credit Risk, focusing exclusively on the differences between the version published in May 2020 and the near-final updated version released in September 2024. The 2024 version of SS10/13 reflects the PRA’s implementation of Basel 3.1

What is the PRA trying to achieve with this new regime? In essence, the objectives are threefold. First, to reduce undue regulatory burden on smaller domestic firms. Complexity carries costs as small firms have fewer resources to manage elaborate risk models, endless reporting templates, and intricate capital calculations. By simplifying these areas, the PRA expects