Credit Model Validator

6 days ago


Edinburgh, Edinburgh, United Kingdom NatWest Group Full time
About the Role

We are seeking a highly skilled Model Risk Officer to join our team at NatWest Group. As a key member of our risk management team, you will play a critical role in ensuring the accuracy and reliability of our credit models.

Key Responsibilities
  • Validate and review credit models used within the group to ensure they are managed within policy and appetite.
  • Support the delivery of bank-wide policy and mandatory procedures for the governance and control of model risk.
  • Work closely with the team to design and roll out a bank-wide risk appetite framework approved by the bank's executive and cascaded to businesses, functions, and legal entities.
  • Assist all areas in having appropriate governance and minimum standards in place to enable each area to report and manage their model risk and remain within their executive's risk appetite.
  • Work across all asset classes to effectively and proactively support model risk with the management and remediation of internal and external audit issues.
Requirements
  • Significant experience of model validation or model development of credit risk models such as IRB, IFRS9, Stress Testing, and Scorecards.
  • Strong understanding of the financial industry, more specifically, model-related regulatory requirements.
  • Prior project management experience with a demonstrated ability to establish a clear direction and set and track objectives.
  • Problem-solving, analytical skills, and the ability to develop effective relationships and communicate with and influence senior management.
  • Extensive model development or validation experience.
  • The ability to code in Python or a proven record of coding in other languages.
  • Knowledge of key model risk regulation relevant for credit models, such as SS1/23 and CRR.
  • Financial acumen and the ability to understand model risk in the context of the bank's assets, business lines, platforms, regions, markets, regulations, and stakeholders.
  • Expert knowledge of policy management and control processes across multiple lines of business.
  • Experience writing and proofreading papers of sufficient quality to be submitted to regulators and auditors.
  • The ability to work closely with senior team members to deliver outcomes consistent with industry-leading practices.


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