At a Glance
- Tasks: Help shape model risk management and support innovative projects across the FCA.
- Company: Join a leading financial authority with a commitment to innovation and collaboration.
- Benefits: Enjoy generous leave, private healthcare, and a flexible benefits scheme tailored to you.
- Other info: Collaborative culture with opportunities for professional growth and networking.
- Why this job: Make a real impact in model risk management while developing your skills in a dynamic environment.
- Qualifications: Experience in modelling, machine learning, or data science; coding skills in Python, SQL, or R.
The predicted salary is between 53800 - 67200 £ per year.
Salary: National (Edinburgh and Leeds) ranging from £53,800 to £67,200 and London from £59,200 to £73,800 (salary offered will be based on skills and experience).
Role Responsibilities
- Contribute to the development and embedding of the model risk management framework, supporting training, communication and adoption across the FCA.
- Provide oversight, guidance and constructive challenge to first line of defence (1LOD) model development and governance activities.
- Work closely with modelling teams to support model risk assessments, evaluate controls, advise on validation approaches and help ensure model inventory data is accurate and complete.
- Support assurance activities such as independent model validations and thematic reviews.
- Support the maintenance and ongoing development of the FCA Model Inventory, including contributing to data analysis and reporting for senior stakeholders.
- Work collaboratively with R&CO colleagues to stay informed on developments across risk and contribute to updates on internal AI and model risk.
- Build and maintain a network across key 1LOD areas (e.g. Advanced Analytics, Data Management, AI Governance) and stay up to date with developments in AI and Model Risk Management.
- Adhere to the FCA values and ways of working in the delivery of outcomes.
Minimum Skills Required
- Experience delivering modelling, machine learning, or data science projects.
- Experience contributing to the implementation of a model risk framework, including supporting training, guidance, or communications.
- Practical coding experience in Python, SQL, or R.
Essential
- Good knowledge of a range of modelling and machine‑learning techniques.
- Interpersonal skills, with the ability to provide clear, balanced and practical advice.
- Experience working with stakeholders, with the confidence to engage effectively across different teams.
- A collaborative approach, building positive working relationships to reach shared outcomes.
- Good organisational skills, with the ability to manage competing priorities and deliver high‑quality work to deadlines.
- Problem‑solving ability, applying sound judgement and making evidence‑based recommendations.
- Able to adjust and work effectively in a changing environment.
Benefits
- 25 days annual leave plus bank holidays.
- Non‑contributory pension (8–12% depending on age) and life assurance at eight times your salary.
- Private healthcare with Bupa, income protection and 24/7 Employee Assistance.
- 35 hours of paid volunteering annually.
- Hybrid model where employees work a minimum of 40% in the office each month (expectation of 50% for senior leaders). Changing from September to a minimum of 50% in the office each month (expectation of 60% for Directors and Executive Directors).
- A flexible benefits scheme designed around your lifestyle.
Model Risk - Senior Associate employer: Financial Conduct Authority
As a Senior Associate in Model Risk at the FCA, you will thrive in a dynamic work culture that prioritises collaboration and innovation. With competitive salaries and a comprehensive benefits package including generous annual leave, private healthcare, and a flexible working model, the FCA is committed to fostering employee growth and well-being. Join us in Edinburgh or Leeds, where you can make a meaningful impact while enjoying a supportive environment that values your contributions.
Contact Details:
Financial Conduct Authority Recruitment Team
StudySmarter Expert Advice🤫
We think this is how you could land Model Risk - Senior Associate
✨Tip Number 1
Network like a pro! Reach out to folks in the industry, especially those working in model risk or related fields. A friendly chat can open doors and give you insights that might just land you that interview.
✨Tip Number 2
Prepare for the interview by brushing up on your technical skills. Make sure you can confidently discuss your experience with modelling, machine learning, and coding in Python, SQL, or R. We want you to shine!
✨Tip Number 3
Show off your collaborative spirit! Be ready to share examples of how you've worked with different teams and stakeholders. Highlighting your interpersonal skills can really set you apart from the competition.
✨Tip Number 4
Don’t forget to apply through our website! It’s the best way to ensure your application gets the attention it deserves. Plus, we love seeing candidates who are proactive about their job search.
We think you need these skills to ace Model Risk - Senior Associate
Some tips for your application 🫡
Tailor Your Application:Make sure to customise your CV and cover letter for the Model Risk - Senior Associate role. Highlight your experience with modelling, machine learning, and any relevant projects you've worked on. We want to see how your skills align with what we're looking for!
Showcase Your Skills:Don’t just list your skills; demonstrate them! Use specific examples from your past work that showcase your coding experience in Python, SQL, or R. We love seeing how you’ve applied your knowledge in real-world scenarios.
Be Clear and Concise:When writing your application, keep it clear and to the point. Avoid jargon and make sure your key points stand out. We appreciate straightforward communication, so let’s keep it simple and effective!
Apply Through Our Website:We encourage you to apply directly through our website. It’s the best way to ensure your application gets to us quickly and efficiently. Plus, you’ll find all the details you need about the role right there!
How to prepare for a job interview at Financial Conduct Authority
✨Know Your Models
Make sure you brush up on your knowledge of modelling and machine-learning techniques. Be ready to discuss specific projects you've worked on, especially those involving model risk frameworks. This will show that you not only understand the theory but also have practical experience.
✨Showcase Your Coding Skills
Since practical coding experience in Python, SQL, or R is essential, be prepared to talk about your coding projects. You might even want to bring examples or be ready for a technical assessment. Demonstrating your ability to code will set you apart from other candidates.
✨Engage with Stakeholders
Highlight your interpersonal skills by discussing how you've effectively engaged with stakeholders in the past. Share examples of how you've provided clear, balanced advice and built positive relationships across teams. This will show that you can collaborate well, which is key for this role.
✨Stay Updated on AI Developments
Familiarise yourself with the latest trends in AI and model risk management. Being able to discuss current developments will demonstrate your commitment to the field and your proactive approach to staying informed. It’s a great way to show that you’re not just looking for a job, but are genuinely interested in contributing to the industry.
