Senior Model Risk Analyst

West Brom; West Bromwich; Hybrid; GBP 42,000 - 50,000; Full time

Job summary

A financial services organization in West Bromwich is seeking a Senior Model Risk Analyst to manage model risk within their team. This hybrid role involves the maintenance and development of mathematical models and requires expertise in SAS programming along with strong analytical skills. The organization offers a supportive culture, flexible work options, and comprehensive employee benefits including a generous holiday policy and career development opportunities.

Benefits

25 days holiday plus bank holidays

Pension scheme with employer match

Private medical insurance

Flexible working options

Employee discounts and wellbeing tools

Qualifications

• Several years of recent SAS programming experience is preferred.
• Excellent at coding solutions from first principles.
• Understanding of IFRS9 requirements and the credit lifecycle.

Responsibilities

• Complete first line validation of IFRS9 models.
• Review model monitoring outputs and execute recalibration.
• Develop and refine scorecards and models in alignment with objectives.

Skills

SAS programming

Attention to detail

Analytical problem-solving

Communication skills

Team collaboration

Education

Degree in mathematics or statistics

Tools

Microsoft Office

Job description

Overview

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Senior Model Risk Analyst

Salary: up to £50,000 (dependant of experience)

Hours: 35 Hours

Contract: Permanent

Location: Hybrid (Office: West Bromwich - 2 days in the office)

At the West Bromwich Building Society we are focused on helping you build a career that works for you. We support a balance between work and life and offer opportunities and backing to help you progress.

We have an incredible opportunity for a Senior Model Risk Analyst to join our risk modelling team on a permanent basis. Reporting to the Model Risk Manager, the Senior Model Risk Analyst will support the management of model risk within the Society primarily through the maintenance, validation and development of a suite of mathematical models (primarily IFRS9 and operational scorecards) related to the Society\'s residential mortgage book.

The post holder will have strong SAS programming skills and a genuine passion to apply this expertise within the role. The successful candidate will use their analytical ability to continuously improve the efficiency of the technical processes used throughout the model control framework (e.g., end-to-end processes used by the models, monitoring, validation, recalibration, etc.).

What the role will look like

• Complete first line validation of statistical models; in particular, IFRS9 models (PD, EAD, LGD) and operational scorecards (behavioural and application).
• Review the output of model monitoring and execute model recalibration and remediation when models are out of tolerance.
• Conduct model risk analysis to support decision making across the Society.
• Develop and refine models (application and behaviour scorecards, IFRS9, ICAAP) in line with the Society\'s objectives and model risk appetite.
• Ensure models comply with regulatory requirements and the Society\'s development and validation standards.
• Perform "What if" analyses to test the financial impact of known changes.
• Contribute to routine activities such as industry benchmarking, sensitivity analysis, evaluating post-model adjustments, and verifying the accuracy of monthly modelling datasets.
• Support the creation of clear and concise papers and analysis for Committees and Groups.
• Compile timely and accurate minutes for the Model Risk Group.
• Contribute to satisfying model inventory and End User Computing (EUC) requirements.
• Identify and manage risk within the area of responsibility.

What you will bring to the role

• Preferably several years of recent SAS programming experience.
• Excellent SAS programming skills with the ability to code solutions from first principles and automate code for repeatable activities.
• Understanding of IFRS9 requirements and the credit lifecycle.
• Degree in mathematics or statistics related subject.
• Numerate and capable of solving problems analytically.
• Attention to detail enabling production of analysis with a consistently high level of accuracy.
• Ability to spot trends and outliers in data.
• Efficient use of Microsoft Office packages.
• Good communicator with the ability to present results to both technical and non-technical audiences in a clear and concise manner.
• Team player who can work with others and autonomously when required.
• Ability to plan and organise own workload while proactively managing stakeholder expectations.

We value a diverse range of skills and experiences. So even if you don\'t meet every single requirement listed, we still encourage you to apply.

What\'s in it for you

• Development opportunities and promotion from within where possible.
• Holiday starting at 25 days plus bank holidays with option to buy or sell up to 5 days each year.
• 2 paid volunteering days per year.
• Pension scheme starting at 5% employee contribution and 7% employer contribution, with employer match up to 10.6%.
• Enhanced maternity, paternity and adoption leave with support for fertility treatment, neonatal and pregnancy loss leave.
• Life assurance provided by the Society at 4 times salary.
• Yearly performance related pay and pay reviews.
• Private medical insurance with possible family cover and a staff discount.
• Salary Sacrifice Electric/Hybrid Car Scheme.
• Perkbox account for perks, discounts, wellbeing tools and more.
• Flexible working options and wellbeing support.

Why choose the West Brom?

We\'ve been named one of The Sunday Times\' Best Places to Work. We value a warm, inclusive and supportive culture and strive to help you belong, grow and build a career that works for you.

We are a Disability Confident Leader and encourage applicants from disabled and diverse backgrounds. We offer adjustments to the recruitment journey and a guaranteed interview to disabled applicants who meet the criteria. If you need support with applying, please contact [e-mail].

Do it today and click apply!

*Please note - We may withdraw adverts earlier than the original published expiry date. If you are interested, please submit your application as soon as possible.*

Head Office: 2 Providence Place West Bromwich B70 8AF. West Brom is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and Prudential Regulation Authority. Register no. 104877. The West Brom is a trading name of West Bromwich Building Society.