Model Governance Manager, London

OVERALL SUMMARY

This role is key in supporting the model governance framework and embedding centralised model risk controls.

The key responsibilities of this role are to manage the delivery and on-going evolution of the group’s Model Risk Framework across all divisions in order to minimise the risks that arise from the use of models. The role sits within the second line Operations and Governance Team, Risk and Compliance, and requires a candidate with strong stakeholder management and organisational skills.

RESPONSIBILITIES

People

  • Support the Risk Governance Lead in delivering against model governance-related activities in accordance with the firm’s policies, standards, procedures and SLA
  • Work with Model Owners (a senior management individual within each business) and the Model Development Team to collate information centrally and advise on model governance best practice
  • Work collaboratively with the Model Risk Management Team to ensure appropriate end to end governance controls are embedded for each model

Processes

  • Maintain the Group Model Inventory on a day to day basis, embedding controls to ensure the accuracy of the information held.
  • Run the annual business certification exercise designed to ensure local model inventories are complete, accurate and up to date.
  • Compile Board level reporting packs from the centralised inventory database on a regular basis and investigate any notable observations arising in the reports.
  • Investigate and report on any observed model risk operational events.
  • Maintain a database of model limitation issues identified by Model Validation tracking issues and their associated closures with Model Owners , Model Developers and Model Risk Management.
  • Run assurance activities to ascertain compliance with the Model Risk Policy and corresponding Model Governance Standards.
  • Provide training on model risk governance requirements as necessary.
  • Provide guidance to businesses as to what is required to ensure models are effectively managed and there is accurate model identification.
  • Collate information / documents to address responses from regulators or internal audit.
  • Conduct annual certification with each business area to ensure the model inventory is complete, accurate and up to date.
  • Monitor adherence to Model Risk appetite and produce presentation materials as required (both scheduled and non-scheduled)
  • Manage the Model Governance Committee and any other model related forums, including pack collation and minute taking.
  • Keep up-to-date on regulatory changes relating to Model Risk.
  • Manage the committee effectiveness review cycle for the Model Governance Committee, extrapolating key messages and themes for further consideration by the committee.
  • Coordinate and maintain a log of any model risk related Dispensations, Waivers and Breaches (DWBs)

Conduct, Risk and Compliance

  • Ensure that all Governance and Compliance requirements are adhered to and all reporting and reviewing activities required by the Regulatory Bodies are carried out to the standards required.
  • Support the identification of, and delivery against, evolving regulatory and legislative requirements that may impact the Model Risk Framework.
  • Behave at all times in line with ‘Vision and Values’

WE WOULD LOVE TO HEAR FROM YOU IF:

  • Strong stakeholder management skills.
  • Strong verbal and written communication skills, with experience in liaising with, and presenting to, senior management.
  • Proficient at minute taking and able to record key decisions and discussion points accurately and coherently.
  • Advanced analytical skills with excellent attention to detail and an interest in investigating issues and developing solutions.
  • Ability to quickly learn new subjects.
  • Reporting experience, including an ability to condense information, develop reports and presentations and produce ad-hoc analyses sufficient to optimise delivery to senior management and the board.
  • Practical experience in the running of a management / executive-level committee and broader risk governance processes.
  • Competent Microsoft Office user with advanced knowledge of PowerPoint and basic knowledge of Word and Excel.
  • Strong organisational skills.

IT IS NOT ESSENTIAL BUT IT WOULD BE GREAT IF YOU:

  • Proven experience of delivering risk governance, including the implementation of risk controls / governance frameworks.
  • Knowledge of models, model risk or IRB.
  • Educated to degree level or equivalent
  • Professional qualification (e.g. PRM, FRM, CFA)

We look to recruit individuals from all different backgrounds and encourage you to apply even if you don’t tick every box. We celebrate diversity, promote inclusivity and are open to discuss flexible work options to help you balance your work and home life.