Head of Traded Instruments Model Validation
1 month ago
Join us as our Head of Traded Instruments, Model Validation
- In this senior and varied role, you’ll oversee model assurance activities performed by relevant teams for our organisation models, ensuring they’re fit for purpose
- You’ll identify significant model risks and effectively communicate these to senior management and model end-users
- As well as developing and maintaining standards that promote an effective risk-based approach to the organisation’s models, you’ll be responsible for building an effective and credible validation plan and delivering high quality reviews in a timely manner
We’ll look to you to manage an effective model validation function that promotes and practises high standards and controls for our market risk models. Working with the leadership of model development teams, you’ll establish a joint approach to model risk management and the prioritisation of work. You’ll also build effective relationships with regulators, and internal and external audit teams to make sure that confidence is maintained in the model validation framework.
In addition to this, you’ll be responsible for:
- Supporting model risk governance in the rollout of the model risk framework by writing standards, maintaining an up-to-date model inventory, and developing a framework for model risk reporting
- Managing quantitative teams, challenging the model validation work, and providing sign off on model validations
- Overseeing first line of defence model assurance activities performed by the model development teams
- Complying with model risk management governance, regulation, policy, and standards
We’re looking for someone with a master’s or a PhD in a quantitative or finance subject such as mathematics, physics, statistics, or finance. Along with significant leadership experience in a market risk model validation or model development role, you’ll have a thorough understanding of modelling in the financial sector, and strong problem-solving and analytical skills. You’ll also need a detailed understanding of a wide range of products and related risk management issues across business areas and jurisdictions in which we operate.
As well as this, we’re looking for:
- A detailed knowledge of model related regulatory requirements, with a particular emphasis on Basel III, stress testing requirements, and accounting standards
- Experience communicating with senior management and building effective relationships with regulators for UK and Europe
- Experience leading a focussed team
- The ability to establish a clear direction and roadmap, and set and track team objectives
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