Model Risk Management Consultant

2 weeks ago

London, Greater London, United Kingdom InterQuest Solutions Full time
  • Support the continuous development and implementation of the Model Risk Management Framework.
  • Perform independent model validations (or annual model reviews) for various models, including stochastic models (IRB and non-IRB) and deterministic quantitative methods.
  • Validate models used for regulatory purposes such as ICAAP and ILAAP.
  • Embed the Model Risk Management Framework, including model identification, attestation, validation, and monitoring.
  • Identify areas of non-compliance and participate in the assessment of key model risks.
  • Maintain and periodically review MRM policies, frameworks, and instructions with relevant governance committees.
  • Present validation and review work at the monthly Model Oversight Committee (MOC).
  • Report on model risk-related matters to the Head of MRM and engage with stakeholders including model developers, owners, and users.
  • Stay updated on regulatory developments and industry best practices related to model risk.
  • Communicate validation results, model limitations, and uncertainties to key stakeholders and management.

Role Requirements:

  • Relevant experience in financial services, particularly in IRB model validation and preferably in model development.
  • Solid understanding of IRB regulation (CRR, EBA, PRA) and familiarity with industry best practices for model risk management (SR11-7, SS 1/23, SS 3/18).
  • Strong analytical background and numerical skills.
  • Educational background in statistics, mathematics, data science, or engineering.
  • Hands-on experience with statistical data programs such as SAS, SQL, R, or Python.
  • Proactive, able to act on own initiative and deliver high-quality outcomes.
  • Excellent communication skills, both verbal and written, with the ability to articulate and present complex issues clearly and concisely.
  • Organized yet flexible working approach.

InterQuest Group is acting as an employment agency for this vacancy. InterQuest Group is an equal opportunities employer and we welcome applications from all suitably qualified persons regardless of age, disability, gender, religion/belief, race, marriage, civil partnership, pregnancy, maternity, sex or sexual orientation. Please make us aware if you require any reasonable adjustments throughout the recruitment process.

For more information about this role, please contact:

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