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AVP - Model Risk Governance

Zoek Pin Kolkata, West Bengal

Permanent (Full time)

Posted 31 days ago

Job Description Model Risk Management (“MRM”) is the second line of defence (“2LOD”) for model risk across Group and primarily consists of Model Risk Stewards, Model Risk Governance (“MRG”) and Independent Model Review. MRG is responsible for setting and providing assurance over the model risk control framework, including model risk policy and model risk appetite. MRG is progressively required to provide services to both 1LOD and 2LOD MRM to facilitate the smooth operation of various aspects of the control framework. These services are or will include: Model identification and model on-boarding Model approvals Model overlays for SOX models Policy administration and management of dispensations; coordinate policy training requirements Effectiveness reviews of model oversight forums The range of MRG Services is likely to increase with the rollout and embedding of the model risk control framework. Provision of these services will require the MRG Services team to: Centralize, administer, coordinate and execute MRG services. Review 1LOD and 2LOD requests and submissions to ensure they are properly formulated. Engage and liaise with modelling and model risk staff across both 1LOD and 2LOD. Principal Accountabilities and Responsibilities Management and development of MRG Services to support smooth operation of the control framework. Set procedures, develop best practice, and maintain tooling to support the provision of these services. Provide management information to Global Head of Model Risk Governance. Requirements Master’s degree in Economics/Mathematics/Statistics/ MBA (Fin) or any other quantitative domain Around 8+ years of relevant professional experience in Risk Analytics in financial domain Prior experience of leading a small team Knowledge of models and model risk management Prior experience in Risk Identification, Compliance, Control Testing and Reporting Experience in model governance and internal control would be strongly preferred Understanding of regulatory implications and relevance of regulatory approved framework Experience in MS Excel to work with large data set is mandatory Experience in development of SharePoint workflows would be preferred Model Risk Management (“MRM”) is the second line of defence (“2LOD”) for model risk across Group and primarily consists of Model Risk Stewards, Model Risk Governance (“MRG”) and Independent Model Review. MRG is responsible for setting and providing assurance over the model risk control framework, including model risk policy and model risk appetite. MRG is progressively required to provide services to both 1LOD and 2LOD MRM to facilitate the smooth operation of various aspects of the control framework. These services are or will include: Model identification and model on-boarding Model approvals Model overlays for SOX models Policy administration and management of dispensations; coordinate policy training requirements Effectiveness reviews of model oversight forums The range of MRG Services is likely to increase with the rollout and embedding of the model risk control framework. Provision of these services will require the MRG Services team to: Centralize, administer, coordinate and execute MRG services. Review 1LOD and 2LOD requests and submissions to ensure they are properly formulated. Engage and liaise with modelling and model risk staff across both 1LOD and 2LOD. Principal Accountabilities and Responsibilities Management and development of MRG Services to support smooth operation of the control framework. Set procedures, develop best practice, and maintain tooling to support the provision of these services. Provide management information to Global Head of Model Risk Governance. Requirements Master’s degree in Economics/Mathematics/Statistics/ MBA (Fin) or any other quantitative domain Around 8+ years of relevant professional experience in Risk Analytics in financial domain Prior experience of leading a small team Knowledge of models and model risk management Prior experience in Risk Identification, Compliance, Control Testing and Reporting Experience in model governance and internal control would be strongly preferred Understanding of regulatory implications and relevance of regulatory approved framework Experience in MS Excel to work with large data set is mandatory Experience in development of SharePoint workflows would be preferred Key Skills Model Governance Education

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