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- Tasks: Validate risk models and communicate findings to management in a dynamic banking environment.
- Company: Join a leading retail banking institution in the heart of London, shaping financial futures.
- Benefits: Enjoy competitive pay, flexible working options, and opportunities for professional growth.
- Why this job: Be part of a crucial team impacting financial stability while enhancing your analytical skills.
- Qualifications: 5-7 years in IRB risk model validation with strong communication and analytical skills required.
- Other info: Ideal for those with a finance or maths background; investment banking experience not relevant.
The predicted salary is between 43200 - 72000 £ per year.
Model Validation Quantitative Specialist – London
We require a Model Validation Risk Quant with at least 5 to 7 years of experience in IRB risk model validation.
The candidate should be experienced in conducting independent model validation and quantification of model risk including necessary communication of key facts and issues identified through those activities.
They must have hands on experience of validation and expert level knowledge of validation of models according to the UK regulations (CRR and SS 11/13) and industry best practice.
We have vacancies in Retail Banking across Secured, Unsecured and Corporate products.
Must have retail banking credit systems experience.
Must have Experience
A track record of validating credit IRB models within retail banking.
Experienced in reporting of model risk to management. Good verbal and written communications skills.
Knowledgeable in interpreting the CRR and Supervisory Statements (SS 11/13),Knowledgeable in IFRS9.
In depth understanding of Credit Models particularly PD LGD and EAD with associated assumptions, data requirements and methodology approach knowledge.
Familiarity with analytical packages such as R, MATLAB, SAS.
Possess the ability to rebuild the model offline for the purposes of validating outputs.
Fluent in English language and excellent verbal and written communications skills.
Knowledgeable in upcoming regulations consultative documents and market trends.
Educated with an associated finance or mathematical discipline to a post graduate standard.
Preference will be given to candidates who have the following additional experience:-
Professional qualifications such as CFA, PRMIA etc.
Direct regulatory liaison/relationship with the Bank of England Prudential Regulation Authority (PRA) on all retail model submissions, regulatory developments and capital impact assessments.
Any capital analytics experience within retail banking.
Presentation of model risk papers for the risk oversite committees.
Additional Notes
Investment banking quantitative experience is not relevant for this role.
SAS model developers willing to move into validation may be considered for other roles.
The position will be based in the City London.
Please send your CV to us in Word format along daily rate and availability.
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Risk Model Validation Quantitative Specialist - London employer: Jas Gujral
Contact Detail:
Jas Gujral Recruiting Team
StudySmarter Expert Advice 🤫
We think this is how you could land Risk Model Validation Quantitative Specialist - London
✨Tip Number 1
Network with professionals in the risk model validation field, especially those who have experience in retail banking. Attend industry events or webinars to connect with potential colleagues and learn about the latest trends and regulations.
✨Tip Number 2
Familiarise yourself with the specific UK regulations mentioned in the job description, such as CRR and SS 11/13. Being able to discuss these regulations confidently during interviews will demonstrate your expertise and commitment to the role.
✨Tip Number 3
Prepare to discuss your hands-on experience with model validation and your understanding of credit models like PD, LGD, and EAD. Be ready to provide examples of how you've successfully validated models and communicated risks to management.
✨Tip Number 4
If you have any professional qualifications like CFA or PRMIA, make sure to highlight them in conversations. These credentials can set you apart from other candidates and show your dedication to the field.
We think you need these skills to ace Risk Model Validation Quantitative Specialist - London
Some tips for your application 🫡
Tailor Your CV: Make sure your CV highlights your experience in IRB risk model validation, particularly within retail banking. Emphasise your hands-on experience with credit models and any relevant qualifications like CFA or PRMIA.
Craft a Strong Cover Letter: In your cover letter, clearly articulate your understanding of UK regulations (CRR and SS 11/13) and how your skills align with the requirements of the role. Mention specific examples of your past work in model validation and communication of model risk.
Showcase Technical Skills: Highlight your proficiency in analytical packages such as R, MATLAB, and SAS. If you have experience rebuilding models offline for validation, make sure to include that as well, as it is crucial for this position.
Demonstrate Communication Skills: Since good verbal and written communication skills are essential, consider including a brief example of how you've effectively communicated complex model risks to management or stakeholders in the past.
How to prepare for a job interview at Jas Gujral
✨Showcase Your Experience
Make sure to highlight your 5 to 7 years of experience in IRB risk model validation. Be prepared to discuss specific projects where you conducted independent model validation and how you communicated key findings to management.
✨Demonstrate Regulatory Knowledge
Familiarise yourself with UK regulations such as CRR and SS 11/13. During the interview, be ready to explain how these regulations impact model validation and share examples of how you've applied this knowledge in your previous roles.
✨Prepare for Technical Questions
Expect questions about credit models, particularly PD, LGD, and EAD. Brush up on the associated assumptions, data requirements, and methodologies. You might also be asked to discuss your experience with analytical packages like R, MATLAB, or SAS.
✨Communicate Effectively
Since good verbal and written communication skills are essential, practice articulating complex concepts clearly and concisely. Prepare to present a model risk paper or summarise a past project to demonstrate your ability to communicate effectively with stakeholders.
