Description
Senior Model Validator
Our client is a bank based in London and is looking for an Interim Senior Model Validator to work on an IRFS9 programme for an initial period of 6 months. There may be some requirement to work in other locations outside of London.
Over view of Senior Model Validator role
As the Senior Model Validator you will be responsible for helping review methodologies for PD, EAD and LGD models across retail and corporate portfolios that demonstrate compliance with IFRS 9 rules. This includes reviewing data, estimation methods, validation, systems, process and documentation as part of the internal and external approval process.
As the Senior Validator you will work in the team responsible for reviewing a variety of statistical models within Credit Risk including:
- Basel II Capital
- Stress Testing
- IFRS 9 Provisioning
- Profitability
For the purpose of the role you will be liaising with internal and external stakeholders extensively, you will need to demonstrate excellent verbal and written communication and presentation skills, the ability to engage across departments effectively at all levels and influence management and key stakeholders and with the ability to synthesise complex issues and explain them easily to non-technical audiences.
You will effectively prioritise actions and resources to deliver against objectives and demonstrate sound judgement as well as implementing policies, guidelines and procedures within the scope of responsibility, reviewing the quality and efficiency of these in order to formulate recommendations for improvement in line with best practice, statutory requirements and business objectives.
Key responsibilities for Senior Model Validator role
- Validating a number of model development projects.
- Performing a detailed gap analysis of the IFRS 9 standards and regulatory guidance for model development.
- Defining interpretation of the guidance to senior stakeholders where required (as it relates to modelling) and helping consolidate feedback via the Team Head to the regulator via industry associations.
- Communicating with local business units to:
- Understand the development of the model.
- Understand both Model Owner and Model Developer perspectives.
- Ensure stakeholders are aware of the status of all model reviews
- Understand the nuances of the client type, product and systems where the model will be implemented and ensure that these are considered throughout the validation to ensure that final version of the model is fit for purpose.
- Translating the results of the review into business language such that any challenge to assumptions supporting the development, the structure and outputs of the model(s) are clearly understood.
- Provide performance updates on the project.
- Ensuring that the model output is sufficiently robust to withstand independent scrutiny and challenge by external regulators and audit.
- Ensuring that the model meets local and global governance standards and has been through the appropriate sign off criteria for the business unit prior to implementation.
Key skills and experience required for Senior Model Validator role
- Previous experience building/validating credit risk models, including knowledge of regulation, estimation and validation techniques relevant to compliance with IFRS 9.
- High degree of mathematical literacy, eg at least a 2:1 degree or equivalent in a numerate discipline (Maths, Statistics, Sciences, Engineering, Operational Research, Physics)
- Strong analytical and problem solving skills.
- Advanced computer literacy, in particular SAS.
- Detailed knowledge of business strategies and credit industry products in either wholesale and/or retail markets.
If you considering a move from your current role please apply online or please contact Jim Beynon on (see below)
Do you know anyone who might be looking for a new role? You could benefit from our candidate referral scheme. Contact me for more information.
Outsource. Our People. Your Success.
Outsource UK is one of the country's largest and most successful independent recruitment consultancies, specialising in the IT, Digital, Financial Services and Engineering sectors.
We recruit talented people for contract and permanent opportunities, offer a consultative approach and have a reputation for providing a superior service to both clients and candidates.
The business focuses on building long lasting relationships based on reliability and trust. We do this by hiring and retaining a great team of recruitment consultants who listen and understand our client's and candidate's needs.