Manager Model Risk & Validation (Credit Risk)

Bendigo Bank; City of Melbourne; Hybrid; AUD 150,000 - 210,000; Full time

Benefits offered by this job

True Flexibility

Health & Wellbeing Support

Continuous Learning

Job summary

Bendigo Bank is seeking an experienced Manager, Model Validation to lead independent validations of credit risk models and oversee the bank's validation framework. You will partner with model developers, business owners, and regulators to provide expert challenge, ensuring robust, compliant risk models.

The role balances hands-on validation with strategic stakeholder engagement, driving improvements in model risk governance and reporting to executive committees. Hybrid Melbourne location.

Qualifications

• Proven experience in model validation within financial services.
• Deep understanding of Credit Risk models (IFRS9, Collective Provisions, APS113).
• Strong quantitative and statistical analysis skills.

Responsibilities

• Lead end-to-end validations of credit risk models and associated stress tests.
• Provide expert challenge and actionable recommendations to model developers and business owners.
• Ensure compliance with APRA APS113, IFRS9 and internal governance policies.
• Develop and deliver high-quality validation reports for oversight committees.
• Engage with regulators and internal stakeholders to support governance.

Skills

Quantitative risk

Model validation

Credit risk

Python

R

SAS

SQL

Communication

Stakeholder engagement

Regulatory standards

Education

Postgraduate qualifications in Mathematics/Statistics/Econometrics/Data Science

Tools

R

Python

SAS

SQL

Job description

We've never been ‘just a bank'. Just like you should never be ‘just an employee'. We're united in our belief that in banking, better can be bigger, and together we're making it happen.

It starts here. With Bendigo Bank… and you.

Come and be part of our specialist Enterprise Risk team. This is a fantastic opportunity for a quantitative risk expert to make a significant impact on our risk management landscape. In this key Second Line of Accountability (2LOA) role, you will help safeguard the bank's financial soundness by providing independent validation and robust challenge to our most critical credit risk and predictive models.

We are currently recruiting an analytical, collaborative, and detail‑oriented professional to join our Model Risk & Validation function as a Manager, Model Validation with a specialized focus on Credit Risk.

About the Role

Reporting to the Senior Manager, Model Risk & Validation, you will be responsible for maintaining, improving, and executing the Bank's model validation framework. In this role, you will act as a subject matter expert on validations related to credit risk models used for regulatory capital (APS113), collective provisions (IFRS9), and macroeconomic stress testing.

This is a high‑profile opportunity that balances deep quantitative hands‑on validation with strategic stakeholder engagement, ensuring that our executive teams and regulators have complete confidence in our model risk management.

As a Manager, Model Validation, you'll make an impact by:

• Leading Independent Validations: Conducting end-to-end quantitative and qualitative assessments of credit risk, collective provisioning, and stress testing models to ensure conceptual soundness and operational robustness.
• Providing Strategic Insights & Advice: Directly partnering with model developers and business owners to deliver constructive, expert‑level challenge and actionable recommendations for model improvement.
• Upholding Regulatory Standards: Ensuring our credit models comply with APRA prudential standards (specifically APS113), IFRS9 standards, and internal model risk governance policies.
• Driving Innovation & Coding Quality: Utilizing contemporary statistical software (such as Python, R, SAS, and SQL) to execute parallel coding, outcome analysis, and data manipulation.
• Active Committee Participation: Contributing high‑quality validation reports and presenting quantitative findings to the Models Risk Committee and other key oversight forums.

What you'll bring to the role

To be successful in this position, you will need a strong mathematical foundation, a healthy curiosity to challenge the status‑quo, and the communication skills to translate complex data into clear strategic narratives.

Essential

• Quantitative Expertise: Proven experience in model validation or model development within the financial services industry, with a deep understanding of Credit Risk models (including Collective Provisioning, IFRS9, and Capital/APS113 frameworks).
• Technical Proficiency: Hands‑on experience with quantitative/analytical tools and database query languages such as R, Python, SAS, or SQL.
• Solid Analytical & Problem‑Solving Skills: Proficient in mathematics and statistics, with a strong grasp of contemporary model risk management frameworks and controls.
• Excellent Communication: Highly developed written and verbal communication skills, with a proven track record of writing high‑quality validation reports that make complex technical findings clear to non‑technical business stakeholders and executives.
• Collaborative Mindset: The ability to work both independently and collaboratively across a diverse stakeholder network (including model developers, business owners, audit, and regulators) to drive positive outcomes.

Highly desirable

• Postgraduate qualifications in a quantitative discipline (e.g., Mathematics, Statistics, Econometrics, Actuarial Science, or Data Science).
• Prior exposure to other model types (e.g., liquidity risk, interest rate risk, financial crime, or operational risk models).

Location & Flexibility

This is a permanent, full‑time position. While we have a preference for candidates in Adelaide or Melbourne, we are flexible on location for the right applicant.

We offer hybrid working arrangements, with a minimum local Head Office attendance requirement determined collaboratively with your leader, ensuring you find a rhythm that works best for you and your team.

Internal Applications

Please note, all internal candidates are required to notify their immediate leader when applying for a new career opportunity and you will be asked to acknowledge they have done so upon submission of your application.

For more information, check out the Application Process for Internal Candidatespage.

Why work for us?

Want big impact that matters? Here, you'll know your work directly benefits the customers and communities we all serve. You'll also get access to a great range of benefits, including:

• True Flexibility: Whether it's hybrid work, flexible hours, a compressed work week, or something different, our flexible options put our people first.
• Health & Wellbeing Support: Enjoy discounted gym memberships, private health insurance options, and our comprehensive Employee Assistance Program (EAP) for you and your family.
• Continuous Learning: Elevate your skills and career through our corporate university, 'BEN U', or external training opportunities.

We believe a diverse workforce supported by an inclusive culture is central to our success, and we actively encourage applications from those who bring diversity of thought to our business.

Still in two minds?

Research suggests 60% of women and underrepresented groups might stop here, even after getting as far as drafting an application. We believe that diversity makes every team stronger, so even if you don't tick every box, we still want to see your application!

We're making better, bigger. And we'll get there with you

Now's the time to set your sights even higher.