Model Validation Analyst

Close Brothers; London; On-site; GBP 50,000 - 70,000; Full time

Job summary

A leading UK merchant banking group seeks a skilled individual for the Model Risk Team in London. The role involves supporting model risk validation objectives, conducting statistical analyses, and ensuring compliance with regulatory standards. Ideal candidates will possess strong analytical skills and experience with statistical tools, contributing to a diverse and inclusive work environment.

Qualifications

• Experience in statistical analysis and modeling techniques.
• Knowledge of regulatory compliance requirements.
• Ability to collaborate with team members.

Responsibilities

• Support implementation of Model Validation function.
• Conduct rigorous testing to assess risk representation.
• Document models and methodologies according to standards.

Skills

Statistical analysis

Analytical skills

Communication skills

Interpersonal skills

Proactive

Team player

Education

Industry certifications such as FRM, CFA, or SAS

Tools

SAS

Excel

R

Matlab

Python

Job description

Division Close Brothers Central Functions - Risk

Location: London, United Kingdom

Salary: Competitive Basic Salary + Benefits + Discretionary Bonus

The Vacancy

Overall Summary

At Close Brothers, we aim to recruit individuals from diverse backgrounds and encourage you to apply even if you don’t meet every qualification. We celebrate diversity, promote inclusivity, and are open to discussing flexible work options to help you balance your work and home life.

Join the Close Brothers Model Risk Team, where you will support and execute the delivery of model risk validation objectives within the Model Risk Management team. Ideally, you will have experience in aiding new modeling efforts through coding reviews and proposing improvements, with excellent analytical skills.

Responsibilities

1. Support the implementation of the Group’s target operating model for the second-line Model Validation function.
2. Ensure models are fit for purpose in line with CBG’s strategy and objectives.
3. Research statistical techniques for estimating model parameters, including risk factor volatilities and correlations, and validate proxies and fallback parameters.
4. Conduct rigorous testing to assess risk representation, suitability, calibration robustness, performance, and distributional tests.
5. Document models, methodologies, analyses, and findings according to Group standards.
6. Identify key areas for business support and model implementation.
7. Review and guide existing and developing model documentation.
8. Stay updated on regulatory changes, quantitative techniques, and industry practices.

Qualifications and Skills

• Ability to conduct statistical analysis using tools like SAS, Excel, R, Matlab, or Python.
• Experience in applying statistical tests and modeling techniques to improve models.
• Good written and verbal communication and presentation skills.
• Knowledge of regulatory compliance requirements.
• Understanding of model conceptual frameworks and assumptions.
• Strong interpersonal skills, proactive, self-motivated, and a team player.
• Ability to collaborate with team members to assess model performance.

Preferred Extras

• Industry certifications such as FRM, CFA, or SAS.

Additional Information

We are committed to accessibility and inclusivity. Adjustments can be made for individuals with disabilities or long-term conditions. Please contact us at [e-mail] for alternative formats or to discuss the recruitment process.

About Us

Close Brothers is a leading UK merchant banking group providing lending, deposit-taking, and securities trading. Employing around 3,000 people across the UK and Ireland, we are listed on the London Stock Exchange and part of the FTSE 250.

Our mission is to be the best place in the UK for wealth professionals and their clients. We believe in proactive financial planning, wise investing, and building long-term relationships with our clients.

With approximately 900 staff across 15 UK offices, we combine local service with face-to-face interactions. Sustainability and social responsibility are core to our values, and we are dedicated to fostering a diverse and inclusive workforce from the top down.

We welcome applications from all backgrounds and are open to training opportunities for those who do not meet every criterion. As early adopters of hybrid working, we offer flexible options to support work-life balance.