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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 a hybrid work model with 3 days in the office and opportunities for professional growth.
- Why this job: Be part of a dynamic team shaping model risk management and engage with senior stakeholders.
- Qualifications: Significant experience in model validation or development, especially in credit risk is essential.
- Other info: Ideal for candidates from large retail banks or consultancies specializing in credit risk.
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
Senior Model Risk Management Analyst employer: Barclay Simpson
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
Make sure to familiarize yourself with the latest model validation techniques, 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
Engage with professionals in the model risk management space through networking events or online forums. Building connections can provide insights into the role and may even lead to referrals within the industry.
✨Tip Number 3
Prepare to discuss specific examples of your experience with model validation and how you've contributed to model governance in previous roles. Highlighting your practical understanding will set you apart from other candidates.
✨Tip Number 4
Research the bank's current model risk management framework and any recent changes in regulations. Being knowledgeable about their specific practices will show your genuine interest in the position and the organization.
We think you need these skills to ace Senior Model Risk Management Analyst
Some tips for your application 🫡
Understand the Role: Make sure to thoroughly read the job description and understand the key responsibilities and requirements. Tailor your application to highlight your relevant experience in model validation and risk management.
Highlight Relevant Experience: In your CV and cover letter, emphasize your significant prior experience in model validation or development, particularly in credit risk. Mention specific models you have worked with and any relevant techniques you have applied.
Showcase Technical Knowledge: Demonstrate your practical understanding of model validation techniques, especially related to retail credit risk, IFRS9, and IRB models. Use specific examples to illustrate your knowledge of model risk management regulations and standards.
Engage with Stakeholders: Mention any experience you have in engaging with senior stakeholders, such as CROs or Finance Directors. Highlight your ability to communicate findings and challenges effectively, as this is crucial for the role.
How to prepare for a job interview at Barclay Simpson
✨Showcase Your Model Validation Experience
Be prepared to discuss your previous experience in model validation, especially related to credit risk. Highlight specific models you've worked on and the techniques you used, as this will demonstrate your practical understanding of the role.
✨Understand Regulatory Standards
Familiarize yourself with the model risk management regulations and standards in the UK and EU. Being able to discuss these regulations during the interview will show that you are knowledgeable and serious about compliance.
✨Engage with Stakeholders
Prepare examples of how you've engaged with senior stakeholders in past roles. This could include discussions around model risks or validations. Demonstrating your ability to communicate effectively with senior management is crucial for this position.
✨Demonstrate Analytical Skills
Be ready to showcase your analytical skills, particularly in relation to stochastic and deterministic models. You might be asked to solve a problem or analyze a scenario, so practice articulating your thought process clearly.
