Senior Model Validation Manager

Investec; Greater London; Hybrid; GBP 80,000 - 100,000; Full time

Job summary

A leading specialist bank in the UK seeks a Senior Model Validation Manager to lead the review and validation of credit models. This pivotal role involves conducting independent validations, managing model risks, and providing insights for senior management. The ideal candidate should have extensive experience in model validation, hold an advanced degree in a numerate field, and demonstrate coding proficiency in Python. This role evaluates compliance with regulatory standards and ensures model integrity, all within a collaborative and agile work culture.

Benefits

Wellbeing Subsidy

Corporate Gym Membership

Non-contributory Pension

Discretionary Bonus

Qualifications

• Extensive experience in model validation of PD, EAD, and LGD models.
• Highly analytical with an advanced degree in a numerate field.
• Demonstrable proficiency in Python coding.
• Excellent written and oral communication skills.
• Ability to oversee junior team members.
• Ability to build collaborative relationships.

Responsibilities

• Conduct independent model validations in line with the bank's requirements.
• Track open validation findings and ensure documentation accuracy.
• Produce analyses to support model approval processes.
• Oversee Model Risk BAU management activities.
• Collaborate with other risk areas to understand model assumptions.
• Research and implement best practices for validating credit models.

Skills

Extensive experience in model development or validation

Communication Skills

Collaboration and prioritisation

Education

Advanced degree in Mathematics, Statistics or Econometrics

Tools

Python programming

Visual Studio

Job description

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Investec is a distinctive Specialist Bank serving clients principally in the UK and South Africa. Our culture gives us our edge: we work hard to find colleagues who’ll think out of the ordinary and we put them in environments where they’ll flourish. We combine a flat structure with a focus on internal mobility. If you can bring an entrepreneurial spirit and a desire to learn and collaborate to your work, this could be the boost your career deserves.

Are you an experienced professional in Model Risk & Validation looking to make a significant impact in the financial services industry? Investec is seeking a Senior Model Validation Manager, leading the review and technical validation of the credit models used within the bank, to help ensure the bank's models are managed in line with policy, regulation and risk appetite, as well as supporting the oversight of validation exercises conducted by junior members of the team. This will also include deputisation responsibilities for the UK Head of MR&V, with the opportunity to progress into a deputy position within the team.

In this pivotal role, you will be responsible for the independent review and challenge of the models used within Investec Bank plc and helps ensure we manage Model Risk in line with policy, regulation, risk appetite, and UK best practice.

About the Team:

The Model Risk & Validation team plays a crucial role in ensuring the integrity of our credit and operational risk models, including Probability of Default (PD) and Loss Given Default (LGD) models. The team conducts end-to-end independent model validations for our new and existing models (which predominantly includes IRB and IFRS 9 across retail and commercial portfolios) and conducts BAU activities to support the management and mitigation of model risk. We work collaboratively to ensure that our models meet regulatory standards and support the bank's risk management framework.

What you will be doing:

• Model Validation: Conduct end-to-end independent model validations for our new and existing models (which predominantly includes IRB and IFRS 9 across retail and commercial portfolios), in line with the bank's internal governance and UK regulatory requirements.
• Findings Management: Regularly track open validation findings and ensure accurate documentation and evidence for closure.
• Analysis & Reporting: Produce qualitative and quantitative analyses to support model approval processes and provide insights for senior management reporting.
• Model Risk Management: Carry out and oversee Model Risk BAU management activities, such as reviewing the bank's Model Inventory and maintaining the bank's Model Risk Framework.
• Stakeholder Engagement: Collaborate with Model Development and other risk areas to ensure a clear understanding of models, assumptions, and limitations.
• Best Practice: Research and implement best practices for validating credit risk models in line with regulatory expectations.

What we’re looking for:

• Modelling Experience: Extensive experience in model development or model validation of, at a minimum, PD, EAD, and LGD models for IRB and/or IFRS 9 across retail and/or corporate portfolios.
• Educational Background: Highly analytical with an advanced degree in a highly numerate field (such as Mathematics, Statistics, Econometrics, etc) with strong academic records and understanding of mathematical and statistical theory.
• Technical Skills: Demonstrable proficiency of coding in the Python programming language and supporting environments (e.g. Visual Studio) and strong understanding of common statistical modelling techniques and their associated assumptions and limitations.
• Communication Skills: Excellent written and oral communication skills. Ability to articulate complex technical concepts to diverse audiences in a clear and concise manner.
• Leadership: Ability to oversee junior members of the team, provide technical support and coaching as required and cultivate a working culture across the team that embodies the team and bank values and promotes knowledge sharing.
• Collaboration and prioritisation: Ability to build strong working relationships and work collaboratively with different stakeholders on various projects across the bank and act as an SME for the Validation function.

As part of our collaborative & agile culture, our working week is 4 days in the office and one day remote.

Investec offers a range of wellbeing benefits to make our people feel healthier, balanced and more fulfilled in their lives inside and outside of work.

Here is a selection of what we offer;

Wellbeing

Wellbeing Subsidy, Corporate Gym Membership, Virtual GP, Peppy Health App (Fertility, Menopause and Early Parenthood), Optional Private Medical & Dental Insurance

Monetary

Non-contributory Pension & Discretionary Bonus

Life & Income Protection

Life Assurance, Critical Illness & Income Protection

Travel

Season Ticket Loan & Electric Vehicle Scheme

Embedded in our culture is a sense of belonging and inclusion. This creates an environment in which everyone is free to be themselves which helps to drive innovation, creativity and ultimately business performance. At Investec we want everyone to find it easy to be themselves, and to feel they belong. It's a responsibility we all share and is integral to our purpose and values as an organisation.

Research shows that some candidates can be reluctant to apply to a role unless they meet all the criteria. We pride ourselves on our entrepreneurial spirit here and welcome you to do the same - if the role excites you, please don't let our person specification hold you back. Get in touch!

Recite Me

We commit to ensure that everyone is fairly assessed during our recruitment process. To assist candidates in completing their application form, Recite Me assistive technology is available on our Careers pages. This can be accessed by clicking on the 'Accessibility Options' link at the top of the page.

The Recite Me tool includes a screen reader, styling and customisation options, a series of reading aids, a translator and more.

If you have any form of disability or neurodivergent need and require further assistance in completing your application, please contact the Careers team at [email protected] who will be happy to assist.