Reference
MRVMREM
Type
Permanent
Location
Remote
Salary

£65k per annum

Category
Finance
Sector
Financial Services

ABOUT THIS ROLE

Our client, a fast growing financial services company based in London, are looking for a fantastic Model Risk and Validation Manager to join them on permanent basis. This is fully remote position, so you could work from anywhere in the UK!

In this role you’ll be responsible for the validation of models and in operating key second line controls in line with the Group Model Risk Management Framework. You will be managing the delivery of and ongoing enhancements to the Group’s approach to managing model risk and have better understanding of risks surrounding the use of models in the business.

KEY RESPONSIBILITIES

Key Responsibilities

  • Lead and perform independent validation of models across the Group, engaging with Analytics teams and Senior Management in the timely completion of model validations and reporting of identified findings and weaknesses of models.
  • Develop the overall approach to model validation and the prioritisation of models requiring validation according to model materiality, business use, complexity and other factors.
  • Lead the management of the Group Model Inventory, engaging with all the Divisions and Functions across the Group in the identification and management of models.
  • Manage the Group Model Governance and Approval Forum and the effectiveness of model governance forums across the Group.
  • Embed the Group Model Risk Policy in the business and functions across the Group and provide necessary training to stakeholders across the Group.
  • Provide oversight of model risk activities across the Group and work across the Three Lines of Defence and external audit in assessing the effectiveness of model risk controls across the Group.

THE IDEAL CANDIDATE

  • At least 5 years relevant analytical experience in retail financial services or banking sector.
  • At least 5 years hands-on model validation and/or model development experience in retail financial services or banking sector.
  • Practical understanding of model validation techniques particularly on retail credit risk, IFRS9, and IRB models.
  • Proficiency in statistical programming (e.g. SAS, Python).
  • Knowledge of model risk management regulations and standards in the UK and EU.
  • Strong communication (written and oral) and influencing skills particularly at Senior level.
  • Project management experience, particularly in the delivery of model validation or development tasks.
  • Honours Degree (2:1 or better) or equivalent degree in a quantitative subject such as Statistics or Mathematics.

 

Desirable

  • Experience in developing or validating models for subprime lending.
  • Financial / business management / MBA qualification or equivalent / Risk Management Professional Qualification.
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