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- Tasks: Validate and review a variety of models, ensuring compliance and effective risk management.
- Company: Join a leading wealth manager and retail bank focused on growth in the UK market.
- Benefits: Enjoy hybrid working with three days in the office and a supportive team environment.
- Why this job: Be part of a dynamic team shaping model risk management and engaging with senior stakeholders.
- Qualifications: Experience in model validation or development, especially in credit risk, is essential.
- Other info: Ideal for those looking to make an impact in a reputable financial institution.
The predicted salary is between 60000 - 84000 £ per year.
My client is a leading wealth manager and retail bank with a growing UK focussed business. The Model Risk Management (MRM) team are responsible for the design and maintenance of the Bank’s Model Risk Management policy and framework, ensuring comprehensive model governance and carrying out model validations and reviews across all the Banks models. The team is based in in London and work on a hybrid basis with 3 days in the office. Key Responsibilities
- Perform independent validation of models of a wide range of models in the group inventory, including stochastic models (IRB and non-IRB) and non-models (also known as deterministic quantitative methods/DQM’s), engaging with Analytics teams and Senior Management in the timely completion of model validations and reporting of identified findings and weaknesses of models.
- Support and shape the Model Risk Management Framework, including model identification process, attestation, validation, and monitoring. This also includes identifying further areas of non-compliance to SS1/23;
- Identify and assess key model risks ensuring model risks with the Bank are effectively identified, measured, monitored and controlled, consistent with the Bank’s risk appetite statement and all policies and processes
- Manage the prioritisation of models requiring validation according to model materiality, business use, complexity and other factors.
- Support the 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. #J-18808-Ljbffr
Contact Detail:
Barclay Simpson Recruiting Team
StudySmarter Expert Advice 🤫
We think this is how you could land Senior Model Risk Management Analyst
✨Tip Number 1
Familiarise yourself with the latest model validation techniques and regulations, especially those related to retail credit risk and IFRS9. This knowledge will not only help you in interviews but also demonstrate your commitment to staying updated in the field.
✨Tip Number 2
Network with professionals in the model risk management space, particularly those working in large retail banks or consultancies. Engaging with them on platforms like LinkedIn can provide insights into the role and may even lead to referrals.
✨Tip Number 3
Prepare to discuss specific examples of your past experiences in model validation or development during interviews. Highlighting your direct contributions and the impact of your work will make you stand out as a candidate.
✨Tip Number 4
Research the company’s current model risk management framework and any recent developments in their approach. Being able to speak knowledgeably about their practices will show your genuine interest in the position and the organisation.
We think you need these skills to ace Senior Model Risk Management Analyst
Some tips for your application 🫡
Tailor Your CV: Make sure your CV highlights relevant experience in model validation and development, particularly in credit risk. Use specific examples that demonstrate your understanding of model validation techniques and regulations.
Craft a Strong Cover Letter: In your cover letter, express your enthusiasm for the role and the company. Discuss how your background aligns with the key responsibilities outlined in the job description, especially your experience with stochastic models and model risk management frameworks.
Highlight Relevant Skills: Emphasise skills that are crucial for this position, such as analytical thinking, attention to detail, and stakeholder engagement. Mention any experience you have working with senior management or in cross-functional teams.
Showcase Continuous Learning: Mention any relevant certifications or training you've completed related to model risk management or credit risk. This shows your commitment to staying updated with industry standards and regulations.
How to prepare for a job interview at Barclay Simpson
✨Know Your Models Inside Out
Make sure you have a solid understanding of the models you'll be validating. Brush up on stochastic models, deterministic quantitative methods, and any specific techniques relevant to retail credit risk. Being able to discuss these confidently will impress your interviewers.
✨Familiarise Yourself with Regulations
Since knowledge of model risk management regulations is crucial, take time to review the relevant UK and EU standards. Be prepared to discuss how these regulations impact model validation and governance in your previous roles.
✨Engage with Stakeholders
Highlight your experience in engaging with senior stakeholders. Prepare examples of how you've communicated model risks and findings to senior management, as this will demonstrate your ability to navigate complex organisational structures.
✨Showcase Your Analytical Skills
Be ready to discuss your analytical approach to identifying and assessing model risks. Provide examples of how you've prioritised models for validation based on materiality and complexity, showcasing your strategic thinking in model risk management.
