Model Risk Management Senior Consultant

2 weeks ago


London, UK, United Kingdom InterQuest Group Full time

CONTRACT OPPORTUNITY

Model Risk Management Senior Consultant

Length: 6 months


Key Responsibilities:

  • 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.
  • Exceptional attention to detail and a strong team player.
  • Effective interaction and communication with key stakeholders.
  • Organized yet flexible working approach.


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