Senior Manager - Credit Risk Model Validation

Recruiter
Barclay Simpson, EA Licence No: 11S4540
Location
London
Salary
£70,000 - £99,999
Posted
03 Dec 2020
Closes
08 Dec 2020
Ref
1858936440
Category
Accounting
Contract Type
Permanent
Hours
Full Time
Senior Manager â€" Credit Risk Model Validation

This is a newly created role within the fledgling group Chief Risk Office of a major consumer lending business. The successful applicant will report to the Head of Group Model Risk and will work alongside him to design, implement and then run a group wide model validation function. This is a "greenfield" role, currently there is no formal 2nd line model validation function so this person will have the opportunity to build it from scratch.

The role will be responsible for the validation of models from across the divisional companies and operating the second line controls in line with the Group Model Risk Management Framework, which is being rolled out as part of major programme of work to strengthen the group CRO.

The team is headquartered in London; however, the firm offers truly flexible working with the opportunity to work remotely for up to 4 days per week with 1 day in London.

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 and shape the overall approach to model validation and model risk management across the Group.
  • Manage the prioritisation of models requiring validation according to model materiality, business use, complexity and other factors.
  • Oversight of model risk activities across the Group and providing challenge on the appropriateness of models used within the business.
  • Engaging with Senior Stakeholders (e.g. CROs, Finance Directors, Heads of Functions) on key model risk activities.

Requirements:
  • Significant prior experience of model validation and/or model development for credit risk, preferably in retail, corporate/wholesale also potentially relevant.
  • Practical understanding of model validation techniques particularly on retail credit risk, IFRS9, and IRB models.
  • Knowledge of model risk management regulations and standards in the UK and EU.

Candidates will likely be working in the model risk or development team of a large retail bank, challenger, consumer finance firm or consultancy specialised within credit risk.

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