Model Risk Manager - Oversight

You will provide independent assurance and advisory support to the management of model risk. As part of the second line of defence, the Model Risk Manager- Oversight will be responsible for delivering assurance over the design and effectiveness of the Banks models, identifying weaknesses, and work closely with stakeholders to agree and track appropriate action. The role will work closely with the first line model risk owners, users and developers to promote a balanced risk-reward approach that ensures the Banks long-term stability and success.

Responsibilities:

• Provide oversight of risk management standards and outcomes across the Banks models.
• Promote a positive culture driving the highest standards in model risk management.
• Assess current and future risks, including those created through regulatory and macroeconomic changes.
• Identify control gaps, weakness or failures related to model design, development and usage.
• Manage the execution of model risk oversight reports in order to monitor key risk indicators and risk mitigations.
• Deputise for the Senior Manager as required.
• Maintain a good understanding of the Banks model risk exposures to contribute to and support the development of risk management standards and behaviours.
• Support the ongoing development of model risk oversight frameworks and methodologies.
• Complete model risk assessments in advance of assurance activities to inform the approach and strategy.
• Prepare and agree scope memo and objectives with key stakeholders.
• Deliver the required fieldwork against assurance scope; including an integrated assessment of the risk and control environment for relevant models.
• Provide detailed reports with quantified findings on model risk exposures and weaknesses.
• Present and agree findings to key stakeholders prior to circulation of final report.
• Follow up on the status of actions and where necessary, testing their implementation.
• Maintain strong, co-operative and effective working relationships with all colleagues.
• Ensure all communications are clear, concise and informative at all times.
• Offer sound advice with clear rationale and articulation of the impacts and benefits.
• Preserve a ‘no-surprises’ approach to credit risk findings or concerns.

Experience required:

• Able to deliver high quality, accurate work to deadlines, and support others to ensure they deliver equally.

• Able to communicate effectively to gain the support of management through reasoned argument and effective decision making.

• Analytical thinking who can interpret MI/BI and use it for sound decision making.

• Natural problem-solving mindset that uses thoughtfulness, drive, and appropriate urgency

• Excellent communication skills (written and verbal) with the ability to influence, negotiate, feedback and constructively challenge at all levels.

• PC Literacy to include MS Office Word, Excel, Power Point.

• Proven ability to effectively plan and organise work effectively and prioritise deadlines whilst working at a fast pace.

• Strong ability to use initiative when concluding on assurance results.

• Proven ability to work independently and pro-actively take ownership for own workload to meet deadlines.

• Ability to demonstrate a positive attitude and the ability to lead and motivate others.

• Enthusiastic and passionate interacting with colleagues.

• Focused and driven when working to stretched goals and deadlines.

• Detailed knowledge of risk management frameworks.

• Excellent relationship management and influencing skills with the ability to balance assertiveness with need to build and maintain internal relationships.

• Experience in a model risk management role.

• Experience in conducting control monitoring or quality assurance.

• Risk related qualification (e.g. IRM) desirable but not essential.

• Partnering with key stakeholders to ensure views are understood and agreement is reached using both information and judgement to create recommendations and support decisions.