Model Validator

2 days ago

Edinburgh, United Kingdom NatWest Group Full time

Our people work differently depending on their jobs and needs. From home working to job sharing, visit the remote and flexible working page on our website to find out more.

This role is based in the United Kingdom and as such all normal working days must be carried out in the United Kingdom.

Join us as a Model Risk Officer
- In this key role, you’ll be supporting in the review, validation and quantification of model risk for assigned models used within the bank.
- You’ll be focusing on Pension Risk, Market Risk (IMA), and Counterparty Credit Risk (IMM) models
- In this key role, you’ll support the bank wide policy covering the governance and control of model risk, developing, maintaining and promoting the risk appetite setting for model risk
- You’ll gain great exposure for you and your work, with the opportunity to develop key relationships with relevant management, colleagues, model owners and developers and end-users

What you'll do

As a Model Risk Officer, you’ll review and validate assigned risk models across the bank, ensuring that they are fit for purpose. We’ll look to you to quantify model risk, through the comparison of the operating model against alternative models. You’ll be maintaining and controlling an aggregated bank-wide model inventory and associated model risk assessments.

You’ll also be:

- Working with the team to design and roll-out a bank-wide risk appetite approved by the bank’s executive and cascaded to businesses, functions and legal entities
- Assisting 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
- Working across all asset classes to effectively and proactively support model risk with the management and remediation of its internal and external audit issues

The skills you'll need

We’re looking for someone with significant experience of model validation or model development of models used for Pension Risk, Market Risk (IMA) or Counterparty Credit Risk (IMM). You’ll need a strong understanding of the financial industry, more specifically, model-related regulatory requirements.

You’ll have prior project management experience with a demonstrated ability to establish a clear direction, and set and track objectives.

Crucial to your success in this role will be problem solving and analytical skills and your ability to communicate with and influence senior management, and develop effective relationships with a range of internal and external stakeholders.

You’ll also need:

Hands-on programming experience in Python, R or C++
- Hands-on in-depth skills in advanced quantitative modelling, and knowledge of the associated risk management issues in a practical business context
- Knowledge of risk-model-related regulatory requirements
- The ability to assist in team planning and prioritisation, including detailed planning of assigned projects within the team’s roadmap
- Experience writing and proof-reading 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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