Model Risk Monitoring Analyst

2 weeks ago

Johannesburg, Gauteng, South Africa Absa Bank Limited Full time
Bring your possibility to life Define your career with us

  • With over 100 years of rich history and strongly positioned as a local bank with regional and international expertise, a career with our family offers the opportunity to be part of this exciting growth journey, to reset our future and shape our destiny as a proudly African group.
Job Summary


As an Analyst within the team, the expectation will be to perform and review model monitoring in accordance with the model risk policy, take on a team/project lead role and be accountable for the delivery of work by junior members of the team.


Within monitoring the incumbent will conduct model performance monitoring on a wide range of AGL models (Regulatory Capital, Impairments, Behavioural scorecards, Application scorecards and Credit decisioning) and cover products used across all of AGLs business units, produce monitoring reports and engage with internal and external stakeholders on the output thereof.

Work closely with the validation teams, as the monitoring analyses constitute critical inputs into the periodic validation process.

Job Description:

Accountability:
Model validation/monitoring (75%)

  • Execute monitoring of models assigned to you by following each step in accordance to the IVU process. Specifically, ensure that all information required for the monitoring is available on time, as received from Model Owner (MO) and/or Model Development (MD).
  • Ensure submission and completion milestones have been communicated to relevant stakeholders for the models assigned to you.
  • Complete assigned models on time according to the IVU planning schedule.
  • Use agreed templates and tools.
  • Monitor models in accordance to internal and external requirements (e.g. as set out in the Group Model Risk Policy
  • GMRP and associated standards, Basel regulations, Prudential Authority
  • PA regulations longforms, IFRS9, etc.).
  • Produce a report requiring minimum corrections as part of senior analyst / management review.
  • Document model recommendations/findings and relevance thereof to model use. Agree resolution actions and resolution timelines with affected counterparties and document these in the report.
  • Ensure that all findings that are resolved are evidenced and that you have checked and recorded as such.

Accountability:
Management of Stakeholder Relationships (10%)

  • Develop a professional relationship with all stakeholders. These include, but are not limited to, model owners, model developers, and audit.
  • Good communication of model findings to all stakeholders.
  • Either address (where able and competent) or escalate material concerns or bottlenecks to line manager (or relevant stakeholder) as early as possible to enable actions to be taken preemptively.
  • On an ongoing basis, interact with internal stakeholders (e.g. model developers, IVU colleagues, model owners, model implementation, business representatives, etc.) to ensure common understanding of findings and concepts.

Accountability:
Development of Technical and Product Knowledge (15%)

  • Develop own technical knowledge, regulatory/policy knowledge and softer skills independently from scheduled team training.
  • Exposure to diverse range of models across different business areas.
  • Identify and escalate any conceptual or big picture risks (incl. changes to the regulatory landscape) in respect of IVU and AGL.
  • Strive to receive regular 360 feedback to facilitate sight of blind spots and develop oneself.
  • Attend and actively participate in citizenship/training events.
  • Ensure simple administrative issues are addressed adequately and within agreed timelines such as performance review process, completion of assigned training, etc.
Education

Bachelor's Degrees and Advanced Diplomas:
Statistics (required)

  • Absa Bank Limited reserves the right not to make an appointment to the post as advertised_

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