Senior Specialist: Model Validation

3 weeks ago

Centurion, South Africa Secondments Full time

Key Performance Areas

**. Designs and manages the Governance process of the independent review and validation of company 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 company 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 banks 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**

**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 company 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 company management on validation findings that require special management attention.

**Manages the validation of the implementation and use of the company 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 company 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

**. 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 company 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.

**. 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 company management areas where the company 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 company 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.
- Integrates value adding model outputs in business decisions to enable sustainability of the company business.

**6. Provides consulting services to the business on model related issues and conducts research**
- Provides advice on improvement of business processes based on model outputs and assist with implementation of improvements while taking cognizance of segregation of duties as per the company three lines of defence model.
- Provides advice on resolution of control inadequacy or ineffectiveness and with implementation of resolutions while taking cognizance of segregation of duties as per the company three lines of defence model.
- Performs an advisory service beyond providing an assurance service to assist management in meeting its business goals.
- Evaluates and assesses significant new or changing services to processes, procedures, policies, risks and controls and assist with their correct implementation and control in the business.

Preferred Minimum Education and Experience
- Relevant 4 year tertiary qualification (B Com Hon or similar)
- 7 plus years experience including Credit model development and validation of risk and/or financial models

Critical Competencies
- Advanced Microsoft Office
- Programming essentials (any language)
- SAS (programming language)
- Business Acumen (financial Services)
- Financial Accounting Principles
- Market risk principles

Additional Requirements
- Extended hours as and when required.
- Travel as and when required

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