Join us as a Model Risk Officer

In this key role, you’ll undertake quantitative validation of credit models and ensure that models are managed within the requirements of the bank’s model risk policy and risk appetite

You’ll ensure model limitations are identified, communicated to stakeholders and effectively mitigated

We’ll look to you to help develop, maintain and implement proportionate mandatory procedures for model validation activity

You’ll gain great exposure for you and your work, with the opportunity to develop key relationships with colleagues across the business

What you'll do

As a Model Risk Officer your main role will be the validation and review of models used within the group and help ensure the bank’s models are managed within policy and appetite. You’ll support the delivery of bank wide policy and mandatory procedures for the governance and control of model risk.

Additionally, you’ll be supporting the model risk control environment and governance process through effective tracking and proactive escalation of issues, and compliance with the operational risk framework.

You’ll also be:

Working with the team to design and roll-out a bank-wide risk appetite approved by the bank’s executive and cascaded to businesses, functions and legal entities

Assisting all areas in having appropriate governance and minimum standards in place to enable each area to report and manage their model risk and remain within their executive’s risk appetite

Working across all asset classes to effectively and proactively support model risk with the management and remediation of its internal and external audit issues

The skills you'll need

We’re looking for someone with significant experience of model validation or model development of credit risk models such as IRB, IFRS9, Stress Testing and Scorecards. You’ll need a strong understanding of the financial industry, more specifically, model-related regulatory requirements.

You’ll have prior project management experience with a demonstrated ability to establish a clear direction and set and track objectives. Crucial to your success in this role will be problem solving, analytical skills, develop effective relationships and your ability to communicate with and influence senior management.

You’ll also need:

Extensive model development or validation experience

The ability to code in Python or a proven record of coding in other languages

Knowledge of key model risk regulation relevant for credit models, such as SS1/23 and CRR

To manage a small team of validators providing oversight to their validation activity and support their development

Financial acumen and the ability to understand model risk in the context of the bank’s assets, business lines, platforms, regions, markets, regulations and stakeholders

Expert knowledge of policy management and control processes across multiple lines of business

Experience writing and proof-reading papers of sufficient quality to be submitted to regulators and auditors

The ability to work closely with senior team members to deliver outcomes consistent with industry leading practices