At a Glance
- Tasks: Review and validate models to manage and mitigate model risk across the bank.
- Company: Join a leading bank focused on innovation and risk management.
- Benefits: Competitive salary, professional development, and opportunities for career advancement.
- Other info: Collaborative team environment with opportunities to coach and develop others.
- Why this job: Make a real impact by ensuring models are fit for purpose in decision-making.
- Qualifications: Postgraduate degree in a quantitative subject and experience in model review or development.
The predicted salary is between 60000 - 80000 £ per year.
Join us as a Model Risk Officer. As a Model Risk Officer, you’ll be advancing your skillset and advising on how model risk can be reduced or mitigated. We’ll look to you to review and challenge first line model assurance activities performed by model development teams. You’ll gain strong exposure, with the opportunity to develop key relationships with relevant management, colleagues, model owners, developers and end-users.
What you'll do
- Maintain and control the bank-wide model inventory and associated model risk assessments.
- Review and validate models across the bank, ensuring they are fit for purpose.
- Report on the findings of model risk management reviews, tailored to your audience, including senior management, regulators, model developers, and end-users.
- Implement and maintain appropriate and proportionate mandatory procedures that define the governance of models.
- Develop, maintain and promote the risk appetite framework in relation to model risk.
- Play an active part in the development of your team and help to coach less experienced colleagues.
- Ensure that models are appropriate for their designated uses, and that significant model risks are identified and effectively communicated to senior management and model end-users.
- Perform model risk analysis to satisfy regulatory queries and requirements.
The skills you'll need
- Experience in model review or development of risk models.
- Strong understanding of risk modelling within traded market risk, non-traded market risk, counterparty credit risk, economic capital or pension risk.
- Excellent problem-solving and analytical skills.
- Ability to communicate with and influence senior management, and develop effective relationships with a range of internal and external stakeholders.
- A postgraduate degree in a quantitative subject such as mathematics, physics or quantitative finance, or similar professional qualifications.
- Hands-on, in-depth skills in advanced quantitative modelling, and knowledge of the associated risk management issues in a practical business context.
- Knowledge of model risk regulatory requirements.
- Ability to assist in team planning and prioritisation, including detailed planning of assigned projects within the team’s roadmap.
- Ability to work well as part of a team and under the guidance of other team members, to deliver successful timely outcomes consistent with industry-leading practices.
Model Risk Officer in London employer: NatWest Group
As a Model Risk Officer at our esteemed bank, you will thrive in a dynamic work culture that prioritises professional development and collaboration. We offer a supportive environment where you can enhance your skills while engaging with senior management and diverse stakeholders, ensuring your contributions are valued. With a strong focus on employee growth and a commitment to maintaining high standards in model risk management, this role provides a unique opportunity to make a meaningful impact in the financial sector.
