Description
IRRBB Project Manager/Business Analyst
Location - London
Daily rate - £550/day PAYE £705.76/day Umbrella
Start date - ASAP
Contract - December 2021
Our financial services client is currently seeking an Model Risk Manager to join their team in London. Compliance with the new Model Risk FIM is complicated and requires significant effort. In addition to the Model Risk FIM updates, Global Model Inventory system needs to be updated with new required fields.
PRA issued a feedback to the client on model risk management, highlighting significant deficiencies and improvements required. The Model Risk Management team initiated a process of updated the Model Risk Functional Instruction Manual (FIM) and the Model Inventory system to make it more efficient and effective. The regulatory expectations have increased, and it is important for client to demonstrate how they are meeting these regulatory expectations within their policies.
Key Responsibilities:
- Creation of the model risk policy for each model category- IRRBB and Liquidity. If capital models are identified, then Capital models as well
- Set up of monitoring documents for each model category, usage cases, models
- Implementation of model monitoring standards
- Implementation of RAS
- Identification and update of Model use cases
- Identification, documentation and training of various model risk stakeholders
- Create new materiality rating and applicable scenarios
- Update ToR, model approval and de-commission forms, implementation reports, monitoring reports for each existing model
- Update to model documentation and IMR documentation
- Review IMR findings and MRG suggestions and initiate projects to address
- Role holder training
Key Requirements:
- Strong Business Analysis/Project Management Experience
- Good background in Treasury
- Someone who has the IRRBB/Treasury Skillset
- Experience with Documentation and Analysing Models
- Good understanding of Policy/Capital Models
- Experience around improving Model Risk Management
- Strong Stakeholder Management Skills
- Experience within the Financial Services Background
- Ability to quickly pick things up ("self starter")
If you think you are up for the task and feel you meet the above criteria or interested. Apply today