Manager - Model Validation

Job Description

The responsibilities of a Manager - Model Validation is to provide the first level of review and sign-off for all validation work within the Model Risk area

Manager - Model Validation

Your Role:

The manager's role is to ensure that all validations are completed within the agreed timeframe and according to documented regulatory guidelines. As part of the role, oversight of the automated "Robot" validation process, and the model risk assessment process, may be required as will management of all Business-As-Usual activities, including the Issues Log. An important part of this role is to develop the behaviours and performance of team members through effective performance development and performance reviews. The role will involve supporting Senior Managers/Head of Model Risk in challenging model design, development implementation, and use, and in setting out the validation planning schedule.

Your Team:

The Model Risk team is a team where we share the responsibility of ensuring that the models held by the bank are working as expected, that they are "fit for purpose". As a member of the team your ideas and input will be valued and make a real difference to how models are reviewed and assessed. The Model Risk team is made up of colleagues with varying levels of experience and from a diverse range of backgrounds who are hardworking and keen to always deliver a first class service for all our customers within PTSB. You will be one of two managers within the team and will report to the Head of Model Risk. You will manage a small team of junior and senior analysts as direct reports.

In general, the Model Risk team is responsible for setting the standards for model risk management for the Bank, and ensuring adherence to those standards. To deliver on its directive the Model Risk team is loosely configured into the following three teams: model monitoring, robotics and replication, and independent assessment i.e. bringing and evidencing independent thought and constructive challenge to the development and use of models.

Your Responsibilities:

• Support and monitor the work of analysts in your team to ensure accuracy and timelines;
• Provide the first level of review and sign-off for all validation work in the areas of model monitoring and robotics-and-replication;
• Present and provide your opinion as to the fitness for purpose of models to Model Owners and Governance committees which is a condition for approval for use;
• Work with your Senior Managers/Head of Model Risk to plan and develop the validation schedule;
• Ensure that all validations are completed within the agreed timeframe and according to documented guidelines and internal standards;
• Ensure model compliance with all relevant regulatory requirements, and that all relevant internal policies and frameworks are understood and adhered to by all relevant stakeholders;
• Manage and sign-off all Business-As-Usual activities, as required, including the Issues Log;
• Drive a high performance culture and develop the behaviours and performance of team members through effective people management and through performance development and performance reviews.

Requirements:

Essential

• A high level of quantitative ability up to at least undergraduate degree level in a highly numerically oriented subject such as physics, mathematics, statistics, econometrics, quantitative finance, actuarial science, engineering or general science;
• A proven ability to communicate the output of quantitative analysis, in particular to a non-technical audience who will need to make decisions based on your advice;
• Previous experience in a model development or model validation role;
• Good and proven programming ability in any language, e.g., Python, Java, SAS, R, etc.;
• Good analytical, problem-solving, communication, organisational, and interpersonal skills.

Desired

• Experience with SAS and SQL programming, or the use of statistical software packages;
• Experience of retail banking, with experience in the model or credit risk areas being advantageous;
• Experience in leading a team of quantitative analysts - experience in leading teams of analysts responsible for the development or validation of models being advantageous;
• An in-depth knowledge of the regulatory environment applying to banking models, e.g. IRB, IFRS9, etc.;
• Significant experience and ability in relevant statistical analysis and techniques, e.g. as part of a degree course or otherwise;
• Demonstrated ability to work in a team environment with changing priorities and time pressures.

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

BY APPLYING FOR THIS ROLE YOU ARE AGREEING TO OUR TERMS OF SERVICE WHICH TOGETHER WITH OUR PRIVACY STATEMENT GOVERN YOUR USE OF MORGAN MCKINLEY SERVICES.