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- Tasks: Manage model risk governance and control for a major UK retail bank.
- Company: Join AMS, a global workforce solutions firm driving change in organisations.
- Benefits: Enjoy a hybrid working model with flexible hours and competitive pay.
- Why this job: Be part of a dynamic team shaping the future of banking and model risk management.
- Qualifications: Significant experience in model review, strong financial industry knowledge, and project management skills required.
- Other info: This role is a 6-month contract, ideal for those seeking impactful work in finance.
The predicted salary is between 54000 - 84000 £ per year.
Our client, a major UK retail bank, provides everyday banking services to over 17 million retail customers. The bank's expertise and services span across Business Services, Corporate Banking, Wealth Management, Group Functions, Retail and Investment Banking. On behalf of this organisation, AMS is looking for an IRB Model Validation Manager - Wholesale / Retail Banking on a 6 Month Day Rate Contract based in London. Please note this is a hybrid working model.
Purpose of the Role: Support the firm-wide policy covering the governance and control of Model Risk, developing, maintaining, and promoting the risk appetite setting for Model Risk while monitoring and assessing the aggregate level and if it fits within the organisation's Model Risk appetite. In this key role, you'll support the bank-wide policy covering the governance and control of model risk, developing, maintaining, and promoting the risk appetite setting for model risk. We'll look to you to implement and maintain appropriate and proportionate mandatory procedures that define the governance of models.
Responsibilities of the role:
- Maintaining and controlling an aggregated bank-wide model inventory and associated model risk assessments.
- Supporting the delivery of bank-wide policy and mandatory procedures for the governance and control of model risk, including related documents required by the policy framework team.
- Supporting the model risk control environment and governance process through effective tracking and proactive escalation of Orbit issues, and compliance with the operational risk framework, including RCA.
- 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.
What we require from the candidate:
- Significant experience of model review or model development of relevant risk models.
- A strong understanding of the financial industry, specifically model-related regulatory requirements.
- Prior project management experience with a demonstrated ability to establish a clear direction, and set and track objectives.
- Problem-solving and analytical skills, with the ability to communicate with and influence senior management, and develop effective relationships with a range of internal and external stakeholders.
- Financial acumen, and the ability to grasp the different model risk indicators tied to 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.
Next steps: This client will only accept workers operating via an Umbrella or PAYE engagement model. If you are interested in applying for this position and meet the criteria outlined above, please click the link to apply and we will contact you with an update in due course.
IRB Model Validation Manager - Wholesale / Retail Banking | London, UK | Hybrid employer: Alexander Mann Solutions (Contingent)
Contact Detail:
Alexander Mann Solutions (Contingent) Recruiting Team
StudySmarter Expert Advice 🤫
We think this is how you could land IRB Model Validation Manager - Wholesale / Retail Banking | London, UK | Hybrid
✨Tip Number 1
Familiarise yourself with the latest regulatory requirements related to model risk in the banking sector. Understanding these regulations will not only help you in interviews but also demonstrate your commitment to staying updated in this fast-evolving field.
✨Tip Number 2
Network with professionals in the banking and finance industry, especially those involved in model validation. Attend relevant conferences or webinars to make connections and gain insights that could give you an edge during the application process.
✨Tip Number 3
Prepare to discuss specific examples of your experience with model review or development. Be ready to explain how you've managed model risk in previous roles, as this will showcase your practical knowledge and problem-solving skills.
✨Tip Number 4
Research the bank's current model risk governance framework and any recent changes they may have implemented. This knowledge will allow you to tailor your discussions during interviews and show that you're genuinely interested in their operations.
We think you need these skills to ace IRB Model Validation Manager - Wholesale / Retail Banking | London, UK | Hybrid
Some tips for your application 🫡
Tailor Your CV: Make sure your CV highlights relevant experience in model review or development, particularly in the financial industry. Emphasise your understanding of regulatory requirements and any project management experience you have.
Craft a Strong Cover Letter: In your cover letter, clearly articulate your problem-solving and analytical skills. Mention specific examples of how you've influenced senior management or built relationships with stakeholders in previous roles.
Highlight Relevant Skills: Focus on showcasing your financial acumen and knowledge of policy management. Include any experience you have with writing and proof-reading papers for regulators and auditors, as this is crucial for the role.
Follow Application Instructions: Ensure you follow the application instructions carefully. If the company specifies using an Umbrella or PAYE engagement model, make sure to mention your willingness to comply with this in your application.
How to prepare for a job interview at Alexander Mann Solutions (Contingent)
✨Understand Model Risk Governance
Make sure you have a solid grasp of model risk governance and control processes. Be prepared to discuss how you would implement and maintain mandatory procedures that define the governance of models, as this is crucial for the role.
✨Demonstrate Financial Acumen
Showcase your understanding of financial indicators related to model risk. Be ready to explain how different model risk indicators tie into the bank's assets and business lines, as this will highlight your expertise in the financial industry.
✨Prepare for Scenario-Based Questions
Expect scenario-based questions that assess your problem-solving and analytical skills. Think of examples from your past experience where you successfully managed model risk or navigated regulatory requirements, as these will demonstrate your capability.
✨Communicate Effectively with Stakeholders
Highlight your ability to communicate and influence senior management. Prepare to discuss how you've developed effective relationships with internal and external stakeholders, as this is key to succeeding in the collaborative environment of the bank.
