Senior Specialist: Model Validation

2 weeks ago

Centurion, Gauteng, South Africa Land Bank Careers Full time

Job Advert Summary:


The Land and Agricultural Development Bank of South Africa (Land Bank) is South Africa's only specialist agricultural bank established in 1912, the bank's sole objective is to serve South African commercial and emerging farmers and bring specially designed financial services within their reach.

These services enable farmers to finance land, equipment, improve assets and obtain production credit.

The Land Bank provides financial services that have moved with the times and continues to provide services to agri-business and constantly reviews its offerings to ensure that they match the needs of an industry.

As change has swept across the sector in South Africa the socio-economic makeup of agriculture has altered, bringing new entrants from historically disadvantaged backgrounds on to the land, these new farmers, facing the challenges of establishing sustainable agri-businesses across the agricultural value chain, Land Bank has been a commercial lifeline offering appropriately designed financial products that facilitate personal and commercial viability in a sector that is vital to the sustainability of South Africa and its people.

Manages the independent review and validation of the models that mitigate the credit risk covering calculation pricing, credit assessment and impairments within Land Bank.


MAIN PURPOSE OF THE JOB**

Manages the independent review and validation of the models that mitigate the credit risk covering calculation pricing, credit assessment and impairments within Land Bank.


Key Performance Areas:

1. Designs and manages the Governance process of the independent review and validation of Land Bank pricing, IRB credit and IFRS 9 / impairment models

  • Designs an effective, systematic, disciplined approach to evaluate and improve processes and procedures for the validation of key Land Bank pricing, IRB credit and IFRS 9 / impairment models.
  • Designs, manages and updates the Model Governance Framework and related policies in relation to pricing, IRB credit and IFRS 9 impairment models.
  • Gives input and advise on the development, implementation, use and improvement of the bank's pricing, IRB credit and IFRS 9 impairment models through a systematic, disciplined approach to evaluate and improve the effectiveness of risk management, control and governance processes.

2. Manages the implementation of a robust model governance framework and contributes to the promotion of effective model development, implementation and use in the bank.

  • Ensures that all the Land Bank pricing, IRB credit and IFRS 9 impairment models conform to relevant international and domestic regulations (regulatory requirements) and legislation.
  • Manages and provides oversight over the implementation and monitoring of a model risk and control assessment (RCA) matrix including managing the resolution of risk issues.
  • Provides regular feedback to Land Bank management on validation findings that require special management attention.

3. Manages the validation of the implementation and use of the Land Bank models across the business

  • Reviews the pricing, IRB credit and IFRS 9 impairment model development methodology to adhere to international and regulatory standards
  • Analyses the robustness of the Land Bank data repository and storage systems and standardisation of the data management so as to give assurance on quality of the model's input data, related controls and comparable datasets

4. Develops, implements and executes an integrated model validation plan that takes into account business strategies and the related risks to enable delivery of business goals.

  • Compiles an integrated model validation plan that takes into account the economic environment, the key strategic risks faced by the Land Bank and the limitations of the business due to capacity constraints.
  • Plans resource allocation so that the model validation plan may be delivered on time and to budget in a manner that adds value to business.
  • Manages stakeholder expectations and capacities, critical path dependencies, scope creep and deliverable of key deliverables.

5. Manages stakeholders to project a positive image of risk management in the business and to enable alignment of business strategy and processes to model use and outputs. (Adoption of use of model throughout the bank)

  • Reviews models and related parameters so they align to changing circumstances and events.
  • Manages adoption and use of models throughout the bank to support and improve their business processes.
  • Defines and agree with Land Bank management areas where the Land Bank needs to improve controls so as to mitigate significant risks through assessment of pricing, IRB credit and IFRS 9 impairment model output reports.
  • Determines and agrees with Land Bank management parameters in pricing, IRB credit and IFRS 9 impairment models that need to be refined so as to give model outputs that best measure the risks of the business.
  • Integr

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