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- Tasks: Lead the Model Risk Management team in ensuring compliance and governance of banking models.
- Company: Join a top retail finance business making waves in the industry.
- Benefits: Enjoy remote work flexibility with just one office day per month.
- Why this job: Be part of a dynamic team shaping model risk policies and frameworks.
- Qualifications: Experience in model governance, especially in retail credit risk, is essential.
- Other info: Ideal for those passionate about finance and regulatory standards.
The predicted salary is between 54000 - 84000 £ per year.
My client is a leading retail finance 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 (including impairment, forecasting, scoring and various AI models). The team is based in multiple locations across the UK and work primarily on a remote basis, with 1 day per month at one of the 4 UK offices. Key Responsibilities
- Developing and maintaining the Model Risk Management Policy and Model Risk Management Frameworks to ensure continued compliance with changing regulatory and corporate requirements
- Maintaining the model inventory by working with model owners, model developers and independent validation teams to ensure that models are catalogued, monitored, developed, validated, remediated and approved in line with policy and frameworks
- Developing and implementing methods for measuring and reporting model risk, including inherent model prudence and the setting of model risk appetites in line with the Risk Appetite Framework
- Proposing and assessing Post-Model Adjustments to counter model limitations and mitigate model validation findings
- Assessing and presenting model validation findings to governance committees as part of the model approval process
- Researching and proposing model validation concepts to inform independent validation activities
- Performing model validation where allowable whilst ensuring independence from model development
Requirements:
- Significant prior experience of model governance of model risk audit for credit risk, preferably in retail, corporate/wholesale also potentially relevant.
- Practical understanding of model governance standards particularly on retail credit risk, IFRS9, and IRB models.
- Knowledge of model risk management regulations and standards in the UK.
Candidates will likely be working in the model governance/assurance/model risk audit team of a retail bank, challenger, consumer finance firm or consultancy specialised within credit risk. #J-18808-Ljbffr
Manager – Model Risk Governance Oversight employer: Barclay Simpson
Contact Detail:
Barclay Simpson Recruiting Team
StudySmarter Expert Advice 🤫
We think this is how you could land Manager – Model Risk Governance Oversight
✨Tip Number 1
Network with professionals in the model risk management field. Attend industry events or webinars where you can meet people who work in similar roles. This can help you gain insights into the company culture and potentially get a referral.
✨Tip Number 2
Familiarise yourself with the latest regulations and standards related to model governance, especially those specific to retail finance. Being well-versed in these topics will not only boost your confidence but also demonstrate your commitment to staying updated in the field.
✨Tip Number 3
Prepare to discuss your experience with model validation and governance in detail during interviews. Be ready to share specific examples of how you've contributed to model risk management in previous roles, as this will showcase your expertise.
✨Tip Number 4
Research the company’s current model risk management practices and any recent changes in their policies. This knowledge will allow you to ask informed questions during the interview and show that you are genuinely interested in the role and the organisation.
We think you need these skills to ace Manager – Model Risk Governance Oversight
Some tips for your application 🫡
Tailor Your CV: Make sure your CV highlights relevant experience in model governance and risk management. Use specific examples from your previous roles that demonstrate your understanding of model validation and compliance with regulatory standards.
Craft a Compelling 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, particularly your experience with model risk management policies and frameworks.
Highlight Relevant Skills: Emphasise skills that are crucial for this position, such as analytical thinking, attention to detail, and strong communication abilities. Mention any specific tools or methodologies you have used in model validation and governance.
Showcase Continuous Learning: Mention any recent training or certifications related to model risk management or regulatory compliance. This demonstrates your commitment to staying updated with industry standards and practices, which is essential for this role.
How to prepare for a job interview at Barclay Simpson
✨Understand the Model Risk Management Framework
Make sure you have a solid grasp of the Model Risk Management Policy and Frameworks. Be prepared to discuss how you would ensure compliance with regulatory changes and how you’ve done this in previous roles.
✨Showcase Your Experience with Model Validation
Highlight your experience in model validation, especially in relation to credit risk models. Be ready to provide examples of how you've assessed model validation findings and presented them to governance committees.
✨Familiarise Yourself with Regulatory Standards
Brush up on UK model risk management regulations and standards, particularly those related to retail credit risk, IFRS9, and IRB models. Demonstrating your knowledge here can set you apart from other candidates.
✨Prepare for Scenario-Based Questions
Expect scenario-based questions that assess your problem-solving skills in model governance. Think about potential model limitations and how you would propose adjustments to mitigate risks effectively.
