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- Tasks: Validate risk models and communicate findings in retail banking.
- Company: Join a leading firm in London focused on model validation.
- Benefits: Competitive salary, dynamic work environment, and opportunities for professional growth.
- Why this job: Make an impact in risk management while working with industry experts.
- Qualifications: 5-7 years of experience in IRB risk model validation required.
- Other info: Position based in the City of London; send CV in Word format.
The predicted salary is between 43200 - 72000 £ per year.
<b>Job Description</b><br> <br>Model Validation Quantitative Specialist – London<br> <br>We require a Model Validation Risk Quant with at least 5 to 7 years of experience in IRB risk model validation.<br> <br>The candidate should be experienced in conducting independent model validation and quantification of model risk including necessary communication of key facts and issues identified through those activities.<br> <br>They must have hands on experience of validation and expert level knowledge of validation of models according to the UK regulations (CRR and SS 11/13) and industry best practice.<br> <br>We have vacancies in Retail Banking across Secured, Unsecured and Corporate products.<br> <br>Must have retail banking credit systems experience.<br> <br>Must have Experience<br> <br>A track record of validating credit IRB models within retail banking.<br> Experienced in reporting of model risk to management. Good verbal and written communications skills.<br> <br>Knowledgeable in interpreting the CRR and Supervisory Statements (SS 11/13),Knowledgeable in IFRS9.<br> In depth understanding of Credit Models particularly PD LGD and EAD with associated assumptions, data requirements and methodology approach knowledge.<br> <br>Familiarity with analytical packages such as R, MATLAB, SAS.<br> Possess the ability to rebuild the model offline for the purposes of validating outputs.<br> Fluent in English language and excellent verbal and written communications skills.<br> <br> Knowledgeable in upcoming regulations consultative documents and market trends.<br> Educated with an associated finance or mathematical discipline to a post graduate standard.<br> <br>Preference will be given to candidates who have the following additional experience:-<br> <br>Professional qualifications such as CFA, PRMIA etc.<br> Direct regulatory liaison/relationship with the Bank of England Prudential Regulation Authority (PRA) on all retail model submissions, regulatory developments and capital impact assessments.<br> <br> Any capital analytics experience within retail banking.<br> Presentation of model risk papers for the risk oversite committees.<br> <br>Additional Notes<br> Investment banking quantitative experience is not relevant for this role.<br> SAS model developers willing to move into validation may be considered for other roles.<br> <br>The position will be based in the City London.<br> <br>Please send your CV to us in Word format along daily rate and availability.
Risk Model Validation Quantitative Specialist - London employer: Nexus Jobs Limited
Contact Detail:
Nexus Jobs Limited Recruiting Team
StudySmarter Expert Advice 🤫
We think this is how you could land Risk Model Validation Quantitative Specialist - London
✨Tip Number 1
Make sure to highlight your experience with IRB risk model validation in your conversations. Discuss specific projects where you conducted independent validations and how you communicated key findings to management.
✨Tip Number 2
Familiarize yourself with the latest UK regulations, particularly CRR and SS 11/13. Being able to discuss recent regulatory changes and their implications on model validation will show your expertise and commitment to staying updated.
✨Tip Number 3
Demonstrate your technical skills by discussing your hands-on experience with analytical packages like R, MATLAB, or SAS. Be prepared to explain how you've used these tools in past roles to validate credit models.
✨Tip Number 4
If you have any professional qualifications such as CFA or PRMIA, make sure to mention them during your discussions. These credentials can set you apart from other candidates and show your dedication to the field.
We think you need these skills to ace Risk Model Validation Quantitative Specialist - London
Some tips for your application 🫡
Tailor Your CV: Make sure your CV highlights your experience in IRB risk model validation and retail banking credit systems. Emphasize your hands-on experience with model validation and your understanding of UK regulations like CRR and SS 11/13.
Showcase Communication Skills: Since good verbal and written communication skills are essential, include examples in your application that demonstrate your ability to report model risk to management and communicate key findings effectively.
Highlight Technical Proficiency: Mention your familiarity with analytical packages such as R, MATLAB, and SAS. If you have experience rebuilding models offline for validation purposes, be sure to include that as well.
Include Relevant Qualifications: If you possess any professional qualifications like CFA or PRMIA, make sure to list them. Additionally, if you have direct regulatory liaison experience with the Bank of England PRA, highlight that in your application.
How to prepare for a job interview at Nexus Jobs Limited
✨Showcase Your Model Validation Experience
Be prepared to discuss your hands-on experience with IRB risk model validation. Highlight specific projects where you conducted independent validations and how you communicated key findings to management.
✨Demonstrate Knowledge of Regulations
Familiarize yourself with the UK regulations, particularly CRR and SS 11/13. Be ready to explain how these regulations impact model validation and provide examples of how you've applied this knowledge in your previous roles.
✨Discuss Analytical Tools Proficiency
Mention your experience with analytical packages like R, MATLAB, or SAS. If possible, prepare to discuss a scenario where you rebuilt a model offline for validation purposes, showcasing your technical skills.
✨Prepare for Communication Scenarios
Since good verbal and written communication skills are essential, practice explaining complex model risk concepts in simple terms. You might be asked to present a model risk paper or discuss how you report model risks to management.
