Model Validation Expert

4 weeks ago

London, Greater London, United Kingdom Adway Associates Full time

About the Role

At Adway Associates, we are seeking a highly skilled Model Validation Expert to join our Model Risk Management team. As a key member of our team, you will be responsible for ensuring the integrity and accuracy of our risk models.

Key Responsibilities

  • Support the Head of Model Validation in prioritizing and scheduling validation activities to ensure all models remain fit for purpose.
  • Manage independent reviews across the model lifecycle, including new developments, model changes, periodic validations, and ongoing monitoring.
  • Lead re-performance independent validation for material models, including partial or complete recoding, development, or building of challenger models.
  • Document validation findings, provide insight, and make recommendations for improvements.
  • Present independent reviews to the Model Governance Committee or Model Technical Forum.
  • Maintain knowledge of model risk and regulatory requirements and standards related to risk models.
  • Engage regularly with senior colleagues across the Group to manage relationships, influence decision makers, and challenge constructively at a senior level.
  • Carry out model risk management tasks with a view to the auditability of model assurance.
  • Research statistical techniques to estimate model parameters, including volatilities of risk factors and their correlations.
  • Benchmark model components, such as parameter estimation methods or pricing models, to justify against alternative approaches.
  • Promote a robust risk culture across primary stakeholders and business.
  • Monitor regulatory developments and ensure personal knowledge remains up to date.
  • Support the Head of MRM to deliver model governance requirements across the Bank.

About You

  • Experience in modelling and/or validation for corporate, retail, and wholesale banking portfolios with a financial services organization, consulting firm, or analytic solutions provider.
  • Ability to utilize experience and knowledge to make sound model judgments, taking into account model performance, regulation, and wider considerations.
  • Hands-on experience in technical model development and implementation, model validation, and/or model oversight in one or more of the following areas: credit risk, PD/LGD/EAD estimations, IFRS9, operational risk, asset & liability management, Economic Capital, stress testing, sensitivities, time series modelling.
  • Knowledge of relevant risk topics, including relevant regulations from PRA and ECB.
  • Proficiency in SAS & Excel. Knowledge of other standard analytics software like R, Python, SAS Viya, etc. would be desirable.
  • Knowledge of banking business and associated risk management approaches sufficient to understand models in the context of the business.
  • Effective relationship management, delivering successful business partnering whereby constructive challenge is undertaken in a timely and orderly fashion.
  • Ability to communicate and influence on sophisticated issues, verbally and in writing, across all key partner groups.
  • Track record of effective delivery and overcoming challenges to deliver business results.
  • Has ethics and integrity at the heart of every decision, and creates an environment that encourages high performance, openness, honesty, and integrity.
  • A numerate graduate degree (Level 6) or above from any reputed University.
  • Minimum 5 years of experience working in risk function either in model development or in model validation.
  • Good to have experience in managing a team.

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