Head of Traded Instruments Model Validation

1 month ago


Northwood, United Kingdom NatWest Full time

Join us asour Head of Traded Instruments, ModelValidation

  • In thissenior and varied role, you’ll oversee model assurance activitiesperformed by relevant teams for our organisation models, ensuringthey’re fit for purpose
  • You’ll identifysignificant model risks and effectively communicate these to seniormanagement and model end-users
  • As well asdeveloping and maintaining standards that promote an effectiverisk-based approach to the organisation’s models, you’ll beresponsible for building an effective and credible validation planand delivering high quality reviews in a timelymanner

Whatyou'll do

We’ll look to youto manage an effective model validation function that promotes andpractises high standards and controls for our market risk models.Working with the leadership of model development teams, you’llestablish a joint approach to model risk management and theprioritisation of work. You’ll also build effective relationshipswith regulators, and internal and external audit teams to make surethat confidence is maintained in the model validationframework.

In addition tothis, you’ll be responsiblefor:

  • Supportingmodel risk governance in the rollout of the model risk framework bywriting standards, maintaining an up-to-date model inventory, anddeveloping a framework for model riskreporting
  • Managing quantitative teams,challenging the model validation work, and providing sign off onmodel validations
  • Overseeing first line ofdefence model assurance activities performed by the modeldevelopment teams
  • Complying with model riskmanagement governance, regulation, policy, andstandards

Theskills you'll need

We’relooking for someone with a master’s or a PhD in a quantitative orfinance subject such as mathematics, physics, statistics, orfinance. Along with significant leadership experience in a marketrisk model validation or model development role, you’ll have athorough understanding of modelling in the financial sector, andstrong problem-solving and analytical skills. You’ll also need adetailed understanding of a wide range of products and related riskmanagement issues across business areas and jurisdictions in whichwe operate.

As well as this,we’re lookingfor:

  • A detailedknowledge of model related regulatory requirements, with aparticular emphasis on Basel III, stress testing requirements, andaccounting standards
  • Experience communicatingwith senior management and building effective relationships withregulators for UK and Europe
  • Experience leadinga focussed team
  • The ability to establish aclear direction and roadmap, and set and track teamobjectives



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