Model Risk Validations Lead

1 month ago

Johannesburg, South Africa FirstRand Full time

Job Description

Lead the Credit Risk Independent Validation function within Group Model Risk Management and shape this function to appropriately support the Group’s Model Risk Management Strategy. Drive enhancements to modelling across the group, through oversight and ownership of the independent validation function, model governance processes, independent validation frameworks, participation in governance committees, independent validation processes and segment collaboration. This includes the design of validation related frameworks as well as key engagements with model owners in order to ensure that model risk management and governance processes are followed. Management of the independent validation function, ensuring that the model validation process is appropriately focused and optimized, that validation resources are appropriately skilled and that high-quality outputs are produced and presented to relevant committees.

To drive enhancements to modelling across the group, through oversight and ownership of the independent validation function, model governance processes, model frameworks, participation in governance committees, independent validation processes and segment collaboration

About Us

Role Purpose

Lead the Credit Risk Independent Validation function within Group Model Risk Management and shape this function to appropriately support the Group’s Model Risk Management Strategy. Drive enhancements to modelling across the group, through oversight and ownership of the independent validation function, model governance processes, independent validation frameworks, participation in governance committees, independent validation processes and segment collaboration. This includes the design of validation related frameworks as well as key engagements with model owners in order to ensure that model risk management and governance processes are followed. Management of the independent validation function, ensuring that the model validation process is appropriately focused and optimized, that validation resources are appropriately skilled and that high-quality outputs are produced and presented to relevant committees.

Responsibilities:

- Establish mutually beneficial relationships with stakeholders that support thought leadership, innovative and integrated practice solutions. Maintain and build relationships for purposes of expectation management and reporting. Develop, encourage and nurture collaborative relationships within the FRG.
- Effective internal and external stakeholder engagement.
- Develops and maintains a wide network of business contacts.
- Communicate in a clear concise manner.
- Accountable for providing the team and management committee with appropriate feedback.
- Identification of efficiencies around the independent validation function and an openness to innovative thinking, as well as production of thought leadership innovation.
- Models under scope for the independent validation function include Credit risk regulatory capital and IFRS9 provisioning models across all portfolios and segments.
- Provide input into Model Development and Validation Frameworks.
- Participation in group training initiatives and knowledge sharing. Keep abreast of developments in model validation space and foster a flexible working culture based on innovation and excellence delivery.
- Focus on tactical service plans to deliver and continuously, provide a consistent, seamless and positive customer experience.
- Manage the quality of delivery in line with predefined quality standards, procedures, and SLA’s to ensure customer goal achievement.
- Demonstrate leadership behaviour through personal involvement, commitment and dedication in support of organisational values.
- Lead direct and indirect teams by providing a meaningful context, setting performance standards and educating on process. Manage people by executing management responsibilities and create an environment that encourages employee growth and performance excellence.

Qualifications and experience:

- Minimum Qualification - Degree in Statistics, Mathematical Statistics, Actuarial Science, Data Science or related fields
- Preferred Qualification - Post-graduate degree in one of the above fields, or Fellow of the Actuarial Society of South Africa
- Experience - More than 6 years of Credit Risk and/or Risk modelling and/or Model validation experience within the banking industry, with more than 4 years of experience managing a team of quantitative analysts/data scientists

Job Details

05/12/24

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