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- Tasks: Lead the Model Risk Management team, ensuring compliance and governance of the Bank's models.
- Company: Join a top asset financing business with a strong presence in London and India.
- Benefits: Enjoy hybrid work with 2 days in the office and competitive perks.
- Why this job: Be part of a dynamic team shaping model risk policies and making a real impact.
- Qualifications: Experience in model validation or development for credit risk is essential.
- Other info: Ideal for those passionate about finance and regulatory standards.
The predicted salary is between 48000 - 72000 £ per year.
My client is a leading asset financing business. The Model Risk Management (MRM) team is 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 Bank's models. The team is based in London and India and works on a hybrid basis with 2 days in the office.
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 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 retail bank, challenger, consumer finance firm, or consultancy specialized within credit risk.
Manager – Model Risk Management employer: Barclay Simpson
Contact Detail:
Barclay Simpson Recruiting Team
StudySmarter Expert Advice 🤫
We think this is how you could land Manager – Model Risk Management
✨Tip Number 1
Familiarise yourself with the latest regulations and standards in model risk management, particularly those relevant to the UK and EU. This knowledge will not only help you understand the role better but also demonstrate your commitment to staying updated in this fast-evolving field.
✨Tip Number 2
Network with professionals currently working in model risk management or related fields. Attend industry events or webinars to connect with potential colleagues and learn about their experiences. This can provide valuable insights and may even lead to referrals.
✨Tip Number 3
Prepare to discuss specific model validation techniques and your practical experience with them during interviews. Be ready to share examples of how you've applied these techniques in previous roles, especially in relation to retail credit risk.
✨Tip Number 4
Research the company’s current model risk management practices and any recent developments in their approach. Tailoring your discussions around their specific challenges and how you can contribute to improvements will make you stand out as a candidate.
We think you need these skills to ace Manager – Model Risk Management
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 risk management regulations and 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, especially your experience with IFRS9 and IRB models.
Showcase Your Technical Skills: Emphasise your practical understanding of model validation techniques. Include any relevant certifications or training that demonstrate your expertise in model risk management, particularly in retail credit risk.
Prepare for Potential Questions: Anticipate questions related to model validation findings and governance processes. Be ready to discuss your approach to assessing model risks and how you would propose adjustments to mitigate limitations.
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 framework. Be prepared to discuss how you would ensure compliance with regulatory changes and corporate requirements, as this is a key responsibility of the role.
✨Showcase Your Technical Knowledge
Highlight your experience with model validation techniques, especially in retail credit risk, IFRS9, and IRB models. Be ready to provide examples of how you've applied these techniques in previous roles.
✨Prepare for Scenario-Based Questions
Expect questions that assess your ability to handle real-world scenarios related to model validation and governance. Think about past experiences where you had to propose adjustments or present findings to committees.
✨Demonstrate Your Collaborative Skills
Since the role involves working with various teams, emphasise your ability to collaborate effectively with model owners, developers, and validation teams. Share examples of successful teamwork in your previous positions.
