Very Competitive Salary!
The overall objective is to provide strong, independent assurance to the Board, regulators and the Monitor that the Group Model Risk control framework, covering both 1st and 2nd Lines of defence, is designed and operating effectively.
Model Risk covers the model development, implementation and usage of Models and Covered Methodologies & Calculators.
Specifically, the Model Risk Audit role comprises three main elements:
- Perform Continuous Monitoring of the business and external environment to identify emerging risk that may require a change of Model Risk audit focus.
- Lead and support Model Risk audits to identify key risks that are not adequately controlled. Then support business/functions to consider their options to efficiently and effectively control these risks.
- Monitor and validate Model Risk Audit Issues (AI), Matters Requiring Attention (MRA) and Matters Requiring Immediate Attention (MRIA) to ensure that the root cause of control weakness have been remediated by the business.
This role requires up to 25% business travel.
The role holder should also promote an environment that supports diversity and reflects the brand.
- Help the Model Risk team and INA generally to become more effective and efficient
- Comply with GASM documentation standards for audits and verification of audit issues.
- Add value in audits by finding control weaknesses.
- Act as a trusted advisors to the business to help them determine options to develop Management Action Plans that will efficiently and effectively control their risks.
- Feed into continuous monitoring.
- Maintain training and expertise to meet regulatory expectations.
- A master degree or higher in a quantitative subject or evidence of a very solid understanding of general statistical modelling principles, techniques, applications, data issues, economic intuition behind models and the associated practical modelling risks.
- Experience and aptitude in a number of technical areas, including credit risk modelling, Basel internal rating system development, Financial Crime Compliance models, Operational Risk modelling, financial mathematics, derivatives, analysis of market risk, econometric modelling, stress testing, scenario analysis, and actuarial modelling.
- At least 2 years of work experience in financial services, with deep knowledge or one or more businesses and products in which models are developed or applied: e.g., front-office trading desks, bank risk functions, risk consulting and insurance actuary.
- An understanding of major global regulatory frameworks and compliance requirements.
- Strong spoken and written English.
- Desirable to have a familiarity with common analytical software packages such as visual basic, SQL, SAS, R, and Matlab.
If this seems like the job for you, click Apply Now to for more information!