Required for pre-mRNA splicing as component of the spliceosome (PubMed:28502770, PubMed:30705154). Binds double-stranded RNA. Inhibits EIF2AK2 kinase activity (By similarity). {ECO:0000250|UniProtKB:Q9CWV6, ECO:0000269|PubMed:28502770, ECO:0000269|PubMed:30705154}. This is the function of PRKRIP1 (PRKR interacting protein 1, ENSG00000128563).