Manager, Model Risk Management

ASX Limited; Sydney; Hybrid; AUD 180,000 - 240,000; Full time

Job summary

ASX is seeking an experienced professional for the Model Risk Management Group, a second line of defence responsible for policy development, validation and oversight of material models used in clearing and settlement risk. You will lead a quantitative team, apply independent validation across the model life cycle, and collaborate with Risk, Technology and governance forums.

Strong knowledge of regulatory expectations and programming skills are essential.

Qualifications

• Extensive experience applying quantitative analysis to financial risk problems.
• Experience in model validation and independent challenge.
• Strong knowledge of model risk management frameworks and governance.
• Ability to produce senior-level reporting for management and regulators.
• Excellent academic qualifications in a quantitative discipline.
• Knowledge of ASX clearing, CCP risk, margin, liquidity stress testing.
• Understanding of end-to-end CCP activities and regulatory expectations.
• Programming or analytical tooling experience (C#, Python, SQL).
• Experience using collaboration tools like JIRA, GIT, GoCD, Jenkins.

Responsibilities

• Translate strategy into direction and take an enterprise view of clearing risk.
• Set priorities and manage delivery discipline across complex methodology work.
• Coach and develop a specialist quantitative team.
• Lead cross-functional partnerships across Risk, Technology and governance forums.
• Shape a dynamic future by ensuring model risk policy adherence.
• Provide independent validation and challenge of high/medium risk models.
• Maintain model inventory, validation records and decision evidence.
• Support external reviews, regulatory engagement and management reporting.

Skills

Quantitative analysis

Model validation

Stakeholder engagement

Report writing

Regulatory knowledge

Education

Bachelor's/Master's in quantitative field

Tools

JIRA

GIT

GoCD

Jenkins

Python

SQL

C#

Job description

ASX: Powering Australia's financial markets

Why join the ASX?

When you join ASX, you’re joining a company with a strong purpose - to power a stronger economic future by enabling a fair and dynamic marketplace for all.

In your new role, you’ll be part of a leading global securities exchange with a strong brand. We are known for being a trusted market operator and an exciting data hub. You can learn more about our workplace culture at www.asx.com.au/about/careers/a-great-place-to-work.

We are more than a securities exchange! The ASX team brings together talented people from a diverse range of disciplines. We run critical market infrastructure, with 1 in 3 people employed within technology. Yet we have a unique complexity of roles across a range of disciplines such as operations, program delivery, financial products, investor engagement, risk and compliance.

We’re proud to foster a workplace where diversity is celebrated and inclusion is part of our everyday culture. Our employee-led networks champion LGBTIQ+ inclusion, promote gender equality, accessibility and wellbeing, inspire giving and volunteering, and celebrate cultural and religious events, creating a sense of belonging for all. As an AWEI Bronze employer and member of the Champions of Change Coalition for gender equality, we’re committed to a fair and inclusive workplace where everyone can thrive.

Your Team

The Model Risk Management Group is a second line of defence team responsible for the development, maintenance and execution of ASX’s Model Risk Management Policy and related standards.

The team provides independent oversight, validation, review and challenge of material models and tools used in clearing and settlement risk management, including model inventory management, independent testing and validation, model performance monitoring, outcomes analysis and reporting to relevant governance forums.

Your responsibilities

• Shape a dynamic future: translate strategy into clear direction, take an enterprise view of clearing risk, integrate external and regulatory insights, and challenge existing approaches to identify better outcomes.
• Enable exceptional outcomes: set clear priorities, manage delivery discipline across complex methodology and transformation work, and take accountability for the quality, timeliness and governance of team outputs.
• Empower talented people: coach, develop and support a specialist quantitative team, building capability, autonomy, accountability and psychological safety.
• Build trusted relationships: lead with openness and constructive challenge, building collaborative partnerships across Risk, Line 1, Technology, governance forums and external stakeholders.

Role specific Work

• Manage, coach and support analysts in model validation practices, analytical methods and stakeholder engagement, while contributing to continuous improvement of the model risk control environment.
• Lead and contribute to the application of ASX’s Model Risk Management Policy, framework and related standards across the model life cycle.
• Provide independent validation, review and challenge of high and medium risk models and tools used for clearing, settlement and investment risk.
• Develop and assess challenger or benchmark models to support validation, ongoing model monitoring, sensitivity analysis, back-testing and outcomes analysis.
• Support oversight of model performance reporting to relevant governance forums, including Risk Working Groups and model risk committees.
• Maintain and improve model inventory, validation records, model documentation standards and evidence of model risk decisions.
• Provide senior input into external model reviews, regulatory engagement and management reporting, including clear articulation of validation outcomes, limitations, assumptions and remediation actions.

Your experience and qualifications

• Must have Extensive experience applying quantitative analysis to complex financial risk, clearing, settlement or investment risk problems.
• Demonstrated experience in model validation, independent review and challenge, including assessment of model assumptions, limitations, data, methodology and implementation.
• Strong knowledge of model risk management frameworks, governance, controls and regulatory expectations in a financial markets or financial services environment.
• Ability to produce clear, senior-level reporting and recommendations for management, governance forums and regulators.
• Excellent academic qualifications in a quantitative discipline, such as mathematics, statistics, financial engineering, econometrics, computer science or a related field.
• Nice to have Knowledge of ASX clearing and settlement services, CCP risk management, margin, capital or liquidity stress testing models.
• Understanding of end-to-end CCP activities, from data acquisition and methodology design through to model implementation, reporting and use.
• Knowledge of the Australian financial regulatory environment and expectations for model risk management, governance and independent oversight.
• Programming or analytical tooling experience, ideally in C#, Python, SQL or another object-oriented or quantitative language.
• Experience using collaboration, development or delivery tools such as JIRA, GIT, GoCD or Jenkins.

We make hiring decisions based on your skills, capabilities and experience, and how you’ll help us to live our values.

Support flexible working and offer hybrid working options.

We will arrange for successful candidates to have background checks, including reference and police checks, completed as part of the on-boarding process.

To be considered for this position, candidates must be legally authorised to work in Australia on a permanent basis without any restrictions.

ASX is an integrated exchange offering listings, trading, clearing, settlement, technical and information services, technology, data and other post-trade services. It acts as a market operator, clearing house and payments system facilitator. It oversees compliance with its operating rules, promotes standards of corporate governance among Australia’s listed companies and helps to educate retail investors.

ASX operates markets for a wide range of asset classes including equities, fixed income, commodities and energy. As an integrated exchange, ASX’s activities span primary and secondary market services, including the raising, allocation and hedging of capital flows; trading and price discovery; central counterparty risk transfer; and securities settlement for both the equities and fixed income markets.

When you join ASX, you’ll be joining a dynamic global leader with a record of innovation and a reputation for integrity, transparency and professionalism.

You’ll also enjoy an impressive range of employee benefits and a flexible working environment underpinned by a friendly and collaborative culture.