Join us as our Head of Independent Model Validation

• We’ll look to you to own and oversee the model validation activities across our bank
• Day-to-day, you’ll ensure that our model risks are clearly identified, communicated and escalated as appropriate to senior management in line with our risk framework
• This is your chance to test your leadership skills in a role where you’ll make sure that our models are fit for purpose in relation to their designated use

What you’ll do

As our Head of Independent Model Validation, you’ll be tasked with building an effective and credible validation plan, while leading a team to deliver high quality reviews in a timely manner.

You’ll promote a culture of continuous improvement and intelligent risk taking with high standards of model validation and controls for all models, while ensuring our compliance with model risk management governance, regulations, policies and standards.

Your top priorities will include:

• Collaborating with model development teams to establish a common approach to model risk management and prioritising work
• Building effective relationships with the regulatory and internal and external audit teams to make sure that confidence is maintained in the model validation capability
• Supporting the Model Governance function in the rollout of the model risk framework by maintaining an up to date model inventory in relation to validation activities
• Working with the first line to encourage the disclosure of models, model variants and end user developed applications
• Making sure that the model risk policy allows for model validation to maintain the required level and quality of independent oversight and challenge
• Overseeing quantitative teams and providing guidance and challenge to the model review work, while delivering sign-off for model reviews

The skills you’ll need

To be successful in this role, you’ll need a Masters or PhD in a quantitative or finance subject, such as mathematics, physics or statistics, as well as leadership and technical experience in a model review or model development role.

In addition, you’ll need an understanding of statistical modelling for credit portfolios across retail and commercial books, stress testing, pricing or provisioning and knowledge of a wide range of products and related risk management issues.

Furthermore, you’ll need:

• Experience of communicating with senior management and executives and creating relationships with stakeholders to ensure they’re aware of the most important model risks
• Analytical knowledge, excellent problem-solving skills and experience of building effective relationships with regulators in the UK and Europe
• The ability to work closely with senior team members to build, maintain and develop a team to deliver outcomes that’re consistent with industry leading practices
• Experience of leading a team, establishing a clear strategy, direction and roadmap and setting and tracking your team’s objectives
• Model-related regulatory requirements knowledge, with an emphasis on an internal ratings-based approach to credit risk, Basel III, stress testing requirements and IFRS 9 standards

Hours

Job Posting Closing Date: