Nathanaël (Nat) Benjamin became our Executive Director for Authorisations, Regulatory Technology, and International Supervision in October 2021. He is responsible for:
- the authorisation of regulatory transactions, where firms apply either to carry out PRA-regulated activities or to change the activities they undertake
- RegTech: the use of technology, data and innovation in support of regulatory processes, and
- the supervision, as a host prudential regulator, of the UK activities of banks, custodians and designated investment firms headquartered in over 50 overseas jurisdictions.
Previously, Nat was our interim Chief Financial Officer (CFO), acting as the Executive Director in charge of the Finance & Performance directorate.
Nat originally joined the UK’s Financial Services Authority (FSA) in 2004, where he held a range of risk specialist roles: supervising how firms measure credit, market, insurance, and counterparty risks. During this time he also participated in policy developments under the Basel Committee and the European banking and insurance authorities. He became closely involved in the management of the global financial crisis, first in the UK and then at the Federal Reserve Bank of New York, where he was seconded from 2008 to 2010. After returning from secondment, he became head of the PRA division responsible for equipping the Bank of England with the capability to run concurrent public stress tests of major banks. In 2015, he was appointed to head the newly-created financial risk oversight function for the Bank of England's own balance sheet.
Nat graduated from the École Centrale de Paris and has a doctorate in applied probability from Oxford University.