Head of Model Risk

Job Description

Head of Model Risk | Dublin There is a new permanent role on offer with a global bank in the heart of Dublin City Centre. The Head of Model Risk will sit within the Enterprise Risk department.

This is a hugely varied role including the responsibility for managing the validation of risk models across the bank.

This role involves working closely with the Board, CRO and the Model Risk Management team. The Head of Model Risk will obtain a huge amount of exposure across the bank as this is a hugely varied role. The Head of Model Risk will report directly into the Director of Enterprise risk.

RESPONSIBILITIES:

• Report to the Board periodically regarding relevant KRIs and propose a Model Risk Appetite
• Ensure maintenance of a model inventory in conjunction with or as part of the global Model Risk Management Inventory
• Ensure compliance with all regulatory guidance through reviewing new regulations for model risk requirements as necessary
• Work closely with the Board, CRO and Model Risk Management team to oversee, manage and monitoring model risk including validations, model risk governance and inventory
• Maintain model governance documents including frameworks, policies and procedures to support local regulation to supplement the global model risk documentation
• End to end model risk management across the model lifecycle including model validation, ongoing performance and annual model reviews
• Oversight on the outsourcing of model risk services to groups within the bank globally
• Liaise with regulators regarding advanced model approval discussions
• Challenge and review globally approved models with regards to their specific local regulations, portfolio type/size etc.
• A member of key governance for a such as Model Control Committees, Risk Management Committee and Capital Adequacy Committee
• Quantify and assess model risk due to limitations and inform stakeholders of their risk profiles
• Involvement and contribution to both cross-functional and strategic initiatives

REQUIREMENTS:

• 10+ years' working in financial services within risk/model validation or within a similar role
• People management experience required
• Strong stakeholder management skills
• Exposure across a number of risk models
• Previous experience working in an enterprise risk function with a strong quantitative/model validation background

Morgan McKinley is acting as an Employment Agency and references to pay rates are indicative.

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