Risk Management Specialist
7 days ago
- Model Governance:
- Support model risk management within the group and perform various model risk activities, such as model identification, model classification / tiering assessment, model inventory management, model risk controls and model risk reporting.
- Support in the implementation of the model risk management framework across the group and ensure compliance with regulatory requirements and industry best practices.
- Support in Identifying, assessing, and mitigating model risk and escalating any significant findings or incidents to model governance committee.
- Ensure that the Bank meets the requirement of regulatory requirements and internal model validation and governance frameworks and policies.
- Independent Model Validation:
- Lead the implementation of the model validation framework in line with regulations, among various asset classes and facility types.
- Validate and review the various models of the bank with a focus on trading risk, market risk, credit risk, macroeconomic overlay models and ensuring that the model development are in line with the banks' policy and procedure and regulatory requirements.
- Support the modelling team to ensure that models are fit for purpose and meet the demands of internal risk management and regulatory requirements.
- Lead the development of statistical tools in Excel/VBA/R/SAS to analyze models' sensitivity and behaviour. Also, review the model documentation to ensure that it captures model theory, sensitivity, and limits.
- Lead to the production of timely validation reports to Senior Management, to external and internal auditors and to the Compliance function as and when required.
- Support the correction of any weaknesses identified during assessment or audit pertaining to models.
- Provide oversight and guidance in terms of industry best practice for model development and quantitative related projects.
- Contribute to ensuring that models provided by external parties (vendors, consultants) are robust and fully understood by the risk department – through comprehensive handovers. Take part in the implementation testing.
- Minimum 8 years in a technical field within the financial or risk consultancy industry, especially with risk management.
- A strong academic background with a quantitative major.
- A professional certification or qualification in risk management, quantitative analysis, or a related field, is desirable but not mandatory.
- Experience of large and complex data sets.
- Knowledge of financial markets and products.
- Robust knowledge of model risk management best practices and regulatory requirements – including Basel II & Basel III and IFRS9 regulations.
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