Model Owner Risk & Compliance

Lorien; London; On-site; GBP 60,000 - 90,000; Full time

Job summary

A leading banking client is looking for a Model Owner - Manager in Risk & Compliance for a 3-month contract in London. The role involves managing risk models, engaging with stakeholders, and ensuring compliance with governance standards. This opportunity offers potential for extension and is critical for enhancing risk management strategies.

Qualifications

• Strong understanding of risk models including Capital, Provision, Stress Testing, Scoring & Rating.
• Experience in model development, validation, or governance is essential.

Responsibilities

• Engaging with stakeholders to understand model purpose and requirements.
• Managing the model lifecycle from planning to assurance.
• Maintaining governance and control per Bank and Santander Group standards.

Skills

Model Governance

Risk Assessment

Stakeholder Engagement

Model Lifecycle Management

Job description

Our leading banking client is seeking a Model Owner in risk and compliance for a 3-month contract, with potential extension.

Role Overview: As a Model Owner - Manager in the Risk & Compliance function, you will manage and control models within the Risk model suite. This role is vital to the culture transformation around model management, demonstrating 'best practice' behaviors.

Models Managed Include: Capital, Provision and Stress testing, Scoring & Rating, Market & Structural Risk, among others. A strong understanding of these models, gained through development, validation, or as a model user, along with knowledge of model governance and frameworks, is required.

Key Responsibilities:

1. Engage with stakeholders to understand model purpose, requirements, performance, and remediation needs.
2. Manage the model lifecycle from planning to assurance, collaborating with various teams.
3. Maintain robust governance and control of models in line with bank and group standards.
4. Prepare and present at Model Committees for governance approvals.
5. Embed SS1/23 principles within the Model Lifecycle and support compliance efforts.
6. Undertake annual attestations and maintain stakeholder communication.
7. Manage operational risks related to models.

Goals: Ensure models are fit for purpose, minimize remedial add-ons, and highlight model risks proactively to prevent regulatory or audit penalties.

Non-Financial Dimensions: Build strong stakeholder relations, adapt to change, proactively escalate issues, and support all levels of the business.

Reporting Line: Reports to the Head of Model Ownership, Controls, Governance and Monitoring. While in the 2nd line, it functions as a 1st line Model Owner role.

Key Accountabilities:

• Manage the Model Lifecycle, including requirements gathering, remediation, monitoring, and controls.
• Maintain Model Management System compliance.
• Embed SS1/23 principles and ensure compliance across all models.
• Maintain stakeholder communication and execute governance for model approvals.

Risk Management: Identify, assess, and report risks; promote risk awareness; improve risk management tools and strategies.

Carbon60, Lorien & SRG - The Impellam Group STEM Portfolio are acting as an Employment Business for this vacancy.