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- Tasks: Support a major Model Risk Management programme and engage with senior stakeholders.
- Company: A leading Tier 1 UK bank focused on regulatory compliance.
- Benefits: Hybrid working, competitive salary, and potential for contract extension.
- Other info: Dynamic role with opportunities to work closely with executive-level stakeholders.
- Why this job: Join a high-impact taskforce and make a difference in model risk management.
- Qualifications: Experience in Model Risk Management and strong analytical skills required.
The predicted salary is between 72000 - 108000 £ per year.
A Tier 1 UK bank is mobilising a major Model Risk Management (MRM) remediation programme in response to PRA Supervisory Statement SS1/23. The programme addresses regulatory findings, Board Risk Appetite-critical models, and a bank-wide uplift in 1st line model ownership capability.
We are seeking an experienced Senior Model Risk Business Analyst / SME to support this programme as part of a small, high-impact taskforce. You will work under the direction of an internal Model Risk lead, partnering closely with senior stakeholders across the business. This is a hands-on delivery role suited to someone with strong regulatory remediation experience who is comfortable engaging with executive-level accountable owners (MD / ExCo-level stakeholders) who hold formal responsibility for model risk under the UK accountability regime. This is a London-based hybrid role, and initial contract is expected to be 10 months, with potential for extension.
Key Responsibilities- Support the design and execution of a return to compliance framework aligned to PRA SS1/23
- Support remediation of PRA findings, including action tracking, evidence production and closure
- Work with 1st line teams to prioritise and track models linked to Board Risk Appetite under the Critical Remediation Plan
- Assess compliance with model risk frameworks and policies, including management of breaches, dispensations and waivers
- Support closure of Independent Validation and Internal Audit findings relating to model risk
- Conduct structured walkthroughs with executive-level accountable owners (MD/ExCo-level stakeholders or their direct deputies) to confirm model ownership, maturity and accountability
- Develop and maintain executive-level return to compliance action plans and contribute to a consolidated, bank-wide view
- Work with Model Planning to align remediation plans with model development and investment priorities
- Support the 2026 SS1/23 attestations process, including development of a consistent basis-for-preparation
- Prepare regulator-ready materials and MI for senior governance forums
- Identify and escalate risks, issues and dependencies to the internal taskforce lead
- Strong experience as a Senior Business Analyst or SME within Model Risk Management or regulatory remediation programmes
- Working knowledge of PRA SS1/23 and UK model risk governance expectations
- Proven experience managing regulatory findings, audit actions and remediation evidence
- Comfortable engaging with senior business executives / accountable owners
- Strong analytical, documentation and communication skills
- Background in banking or financial services (Tier 1 / Tier 2 environment preferred)
- Experience working on Board Risk Appetite-related models (e.g. credit, IRB, stress testing, capital, forecasting) preferred
- Experience working alongside Model Risk, Validation and Audit teams preferred
Senior Model Risk Business Analyst / SME - Banking in City of London employer: Essential Consulting
Contact Detail:
Essential Consulting Recruiting Team
StudySmarter Expert Advice 🤫
We think this is how you could land Senior Model Risk Business Analyst / SME - Banking in City of London
✨Tip Number 1
Network like a pro! Reach out to your connections in the banking sector, especially those who work in model risk or regulatory roles. A friendly chat can lead to insider info about job openings that aren't even advertised yet.
✨Tip Number 2
Prepare for interviews by brushing up on your knowledge of PRA SS1/23 and model risk governance. We want you to be the go-to expert in the room, so practice explaining complex concepts in simple terms to impress those executive-level stakeholders.
✨Tip Number 3
Showcase your hands-on experience! When discussing your past roles, highlight specific projects where you managed regulatory findings or worked with senior executives. This will demonstrate your capability to handle the responsibilities of the Senior Model Risk Business Analyst role.
✨Tip Number 4
Don’t forget to apply through our website! It’s the best way to ensure your application gets noticed. Plus, we love seeing candidates who are proactive and engaged with our platform.
We think you need these skills to ace Senior Model Risk Business Analyst / SME - Banking in City of London
Some tips for your application 🫡
Tailor Your CV: Make sure your CV is tailored to the Senior Model Risk Business Analyst role. Highlight your experience in regulatory remediation and model risk management, and don’t forget to mention any direct interactions with senior stakeholders.
Craft a Compelling Cover Letter: Your cover letter should tell us why you’re the perfect fit for this role. Use specific examples from your past experiences that align with the job description, especially around compliance and engagement with executive-level owners.
Showcase Your Analytical Skills: Since this role requires strong analytical skills, make sure to include examples of how you've used these skills in previous roles. Whether it’s through managing regulatory findings or developing action plans, we want to see your problem-solving prowess!
Apply Through Our Website: We encourage you to apply directly through our website. It’s the best way for us to receive your application and ensures you’re considered for this exciting opportunity. Don’t miss out!
How to prepare for a job interview at Essential Consulting
✨Know Your Regulatory Stuff
Make sure you brush up on PRA SS1/23 and the UK model risk governance expectations. Being able to discuss these topics confidently will show that you're not just familiar with the regulations but also understand their implications for the bank.
✨Engage with Executive-Level Stakeholders
Prepare to discuss how you've successfully engaged with senior executives in the past. Think of specific examples where you’ve navigated complex discussions or managed stakeholder expectations, as this role requires a lot of interaction with MD and ExCo-level owners.
✨Showcase Your Analytical Skills
Be ready to demonstrate your analytical prowess. Bring examples of how you've assessed compliance with model risk frameworks or managed breaches. This will help illustrate your hands-on experience and problem-solving abilities.
✨Prepare for Structured Walkthroughs
Since you'll be conducting structured walkthroughs, practice explaining complex concepts clearly and concisely. Use real-life scenarios to showcase your ability to confirm model ownership and accountability, which is crucial for this role.