Model Risk Officer

2 months ago


Edinburgh, United Kingdom NatWest Full time

Join us as aModel RiskOfficer

  • In this keyrole, you’ll undertake quantitative validation of credit models andensure that models are managed within the requirements of thebank’s model risk policy and riskappetite
  • You’ll ensure model limitations areidentified, communicated to stakeholders and effectivelymitigated
  • We’ll look to you to help develop,maintain and implement proportionate mandatory procedures for modelvalidation activity
  • You’ll gain great exposurefor you and your work, with the opportunity to develop keyrelationships with colleagues across thebusiness

Whatyou'lldo

As aModel Risk Officer your main role will be the validation and reviewof models used within the group and help ensure the bank’s modelsare managed within policy and appetite. You’ll support the deliveryof bank wide policy and mandatory procedures for the governance andcontrol of modelrisk.

Additionally, you’ll besupporting the model risk control environment and governanceprocess through effective tracking and proactive escalation ofissues, and compliance with the operational riskframework.

You’ll alsobe:

  • Working withthe team to design and roll-out a bank-wide risk appetite approvedby the bank’s executive and cascaded to businesses, functions andlegal entities
  • Assisting all areas in havingappropriate governance and minimum standards in place to enableeach area to report and manage their model risk and remain withintheir executive’s risk appetite
  • Working acrossall asset classes to effectively and proactively support model riskwith the management and remediation of its internal and externalauditissues

Theskills you'llneed

We’relooking for someone with significant experience of model validationor model development of credit risk models such as IRB, IFRS9,Stress Testing and Scorecards. You’ll need a strong understandingof the financial industry, more specifically, model-relatedregulatoryrequirements.

You’ll haveprior project management experience with a demonstrated ability toestablish a clear direction and set and track objectives. Crucialto your success in this role will be problem solving, analyticalskills, develop effective relationships and your ability tocommunicate with and influence seniormanagement.

You’ll alsoneed:

  • Extensivemodel development or validation experience
  • Theability to code in Python or a proven record of coding in otherlanguages
  • Knowledge of key model riskregulation relevant for credit models, such as SS1/23 andCRR
  • To manage a small team of validatorsproviding oversight to their validation activity and support theirdevelopment
  • Financial acumen and the ability tounderstand model risk in the context of the bank’s assets, businesslines, platforms, regions, markets, regulations andstakeholders
  • Expert knowledge of policymanagement and control processes across multiple lines ofbusiness
  • Experience writing and proof-readingpapers of sufficient quality to be submitted to regulators andauditors
  • The ability to work closely withsenior team members to deliver outcomes consistent with industryleading practices


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