Model Risk Oversight Manager

19 hours ago

Leeds, United Kingdom MERJE Ltd Full time

Remote working options available.

**Key responsibilities include**:

- Overall responsibility for providing independent oversight of Model Risk. Ensure that all models meet regulatory and internal policy requirements.
- Responsible for leading all 2nd line engagement with the PRA on all technical model risk matters
- Provide expertise, guidance, review and sign off on all Model Risk reviews produced by the model risk managers and analysts in the team covering (but not limited to) the IRB Rating system, IFRS9, Retail Credit, ALM, Treasury and Finance Models.
- Responsible for ensuring that the Prudential Risk Oversight plan captures all required model validations as defined within the Model Governance Policy and known model developments.
- Responsible for the effective review and oversight of model monitoring MI to support early identification and assessment of emerging risks. Accountable for the escalation of potential issues to the Lead - Prudential Risk, Chiefs and relevant committeeswhere appropriate.
- Responsible for the development and enforcement of the Model Risk Governance framework to ensure all regulatory requirements are met and appropriate to manage model risk
- Responsible for managing all Director-level stakeholders who are model owner’s
- Partner with key business stakeholders and divisions, providing advice, challenge and expertise on a range of complex issues, and providing challenge to divisional and specialist risk management strategies.
- Responsible for the strategic direction of model risk management and delivery including achieving buy-in from senior stakeholders such as the CRO, CFO and Board Risk Committee.

**Previous experience and qualifications**:

- Background within a risk management function in the Banking Sector.
- Excellent understanding of modelling approaches in particular Retail Credit/IRB, ALM and Finance.
- Excellent communication skills, in particular in translating technical concepts and facts into clear understandable management information for commercial and operational colleagues.

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