Senior Model Risk Lead

Cynergy Bank; Greater London; Hybrid; GBP 80,000 - 110,000; Full time

Job summary

A financial institution is looking for a Senior Model Risk Lead to enhance its risk management framework and ensure compliance with regulatory standards. The role involves overseeing financial models across various risk areas and engaging with senior committees and regulators. Candidates should possess strong expertise in prudential risk modelling, a degree-level education, and skills in Excel and Python. This position offers a competitive salary, a hybrid working model, and various employee benefits, including a pension scheme and healthcare options.

Benefits

Salary and bonus package

25 - 30 days holiday

Award winning pension savings scheme

Healthcare and life assurance

Training and development opportunities

Lifestyle discounts and recognition awards

Qualifications

• Strong technical expertise in prudential risk modelling and regulatory frameworks.
• Proficiency in Excel and Python; other coding skills advantageous.
• Excellent stakeholder management skills, including engagement with regulators.

Responsibilities

• Provide second line oversight of key prudential models.
• Lead Model Risk governance activities, including the Model Governance Committee.
• Review and challenge model risk metrics, stress testing, and validation processes.
• Ensure compliance with the Model Risk Governance Framework.

Skills

Prudential risk modelling

Regulatory frameworks (PRA Rulebook, ICAAP/ILAAP)

Stakeholder management

Excel

Python

Education

Degree level education

Professional qualifications (FRM, CFA, ALMA)

Job description

Overview

Join us as a Senior Model Risk Lead and make a real impact by strengthening our risk management framework and supporting strategic decision making through robust model oversight. This is a permanent opportunity within our Prudential Risk team, based in London with hybrid working. As Senior Model Risk Lead, you will provide second line oversight of the Bank's financial models across Liquidity, Capital, IRRBB, Credit risk/IFRS9, and product pricing. You will play a key role in Governance, Regulatory compliance, and risk assurance, reporting to the Head of Prudential Risk.

Where you will work: hybrid working with 3 days in our London office and 2 days from home.

Responsibilities

• Provide second line oversight of key prudential models (liquidity, capital, IRRBB, credit risk).
• Lead Model Risk 2LOD governance activities, including Model Governance Committee (MGC) and Steering Group.
• Review and challenge model risk metrics, stress testing, and validation processes.
• Ensure compliance with the Model Risk Governance Framework and Enterprise Risk Management Framework.
• Support regulatory submissions (ILAAP, ICAAP) and prudential risk reporting, especially with regards to model/EUC oversight.
• Contribute to model development oversight and bank wide data initiatives.
• Strong technical expertise in prudential risk modelling and regulatory frameworks (PRA Rulebook, ICAAP/ILAAP).
• Proficiency in Excel and Python; other coding skills advantageous.
• Degree level education; professional qualifications such as FRM, CFA, or ALMA desirable.
• Excellent stakeholder management skills, including engagement with regulators and senior committees.
• Ability to influence, challenge, and drive governance outcomes.

Qualifications & Requirements

• Degree level education; professional qualifications such as FRM, CFA, or ALMA desirable.
• Strong technical expertise in prudential risk modelling and regulatory frameworks (PRA Rulebook, ICAAP/ILAAP).
• Proficiency in Excel and Python; other coding skills advantageous.
• Excellent stakeholder management skills, including engagement with regulators and senior committees.

Benefits

• A salary and bonus package designed to recognise your skills and contribution
• 25 - 30 days holiday (with the option to buy 10 more)
• Award winning pension savings scheme
• Healthcare, life assurance, and income protection
• Hybrid working (3 days office, 2 from home)
• Training and development opportunities, plus lifestyle discounts, recognition awards, and volunteering initiatives
• You can explore the full package here: cynergybank.co.uk/about-us/careers/benefits-and-rewards

Our values shape everything we do: Putting the customer first, Risk front and centre, Opportunity, empowerment and innovation, United team inclusive and diverse, and Doing the right thing. These principles guide our decisions, drive our culture, and ensure the best outcomes for our customers and colleagues. This advert covers the main responsibilities and requirements. A full job description will be shared with shortlisted candidates. If you don\'t meet every requirement, we still encourage you to apply as we value potential as much as experience. At Cynergy Bank, we use anonymous screening at the first stage of recruitment, ensuring every application is reviewed fairly, based on skills and experience alone.