Model Risk & Validation Specialist

White Cloak Technologies, Inc.; Philippines; On-site; PHP 1,800,000 - 2,500,000; Full time

Job summary

White Cloak Technologies, Inc. in the Philippines seeks a Model Risk & Validation Specialist to independently review and monitor risk models for reliability and regulatory compliance under BSP standards.

The role spans model validation, monitoring, issue tracking, and risk oversight across banking models. Responsibilities include evaluating methodology, data sources, performance, and applying effective challenge.

Qualifications

• Bachelor's degree in a quantitative field.
• 5+ years of experience in Model Validation / Model Risk Management / Validation tracking.
• Experience with IFRS 9 / ECL, credit risk models or banking risk models preferred.
• Proficient with SQL, Python, R, SAS or similar analytical tools.

Responsibilities

• Conduct independent reviews of risk and Non-AI/ML models prior to implementation.
• Assess model methodology, data sources, performance, limitations, documentation and use.
• Review model changes, recalibration, redevelopment and scope changes.
• Identify model risks, gaps and provide recommendations.
• Review monitoring results, performance metrics and back-testing.
• Identify deterioration, threshold breaches, and emerging risks.
• Evaluate root-cause analyses and remediation plans.
• Prepare validation reports, monitoring assessments and risk docs.
• Track findings, remediation plans and closure of issues.
• Support model inventory, validation tracking and regulatory reporting.

Skills

Analytical skills

Critical thinking

Technical documentation

Education

Bachelor's degree (Statistics / Mathematics / Economics / Data Science / Engineering / Finance or related field)

Tools

SQL

Python

R

SAS

Job description

The Model Risk & Validation Specialist is responsible for independently reviewing and monitoring models to ensure they remain reliable, fit for purpose, and compliant with model risk management standards and BSP regulatory requirements.

The role covers model validation, model monitoring, effective challenge, issue tracking, and model risk oversight across various banking and risk models.

Key Responsibilities

• Conduct independent reviews of risk and Non-AI/ML models prior to implementation.
• Assess model methodology, assumptions, data sources, performance, limitations, documentation, and intended use.
• Review model changes, including recalibration, redevelopment, methodology changes, and changes in model application or scope.
• Identify model risks and gaps and provide effective challenge and recommendations.
• Review model monitoring results and assess performance metrics, thresholds, stability indicators, back-testing results, and model limitations.
• Identify performance deterioration, threshold breaches, emerging risks, and concerns regarding continued model fitness.
• Evaluate root-cause analyses and proposed remediation plans.
• Recommend appropriate actions, including recalibration, enhancement, redevelopment, watchlisting, or retirement.
• Prepare model validation reports, monitoring assessments, and other model risk documentation.
• Track findings, remediation plans, and closure of identified issues.
• Support model inventory, validation tracking, monitoring dashboards, and regulatory reporting.
• Support Model Risk Management Framework initiatives and BSP regulatory requirements.

Qualifications

• Bachelor's degree in Statistics, Mathematics, Economics, Data Science, Engineering, Finance, Risk Management, Computer Science, or a related quantitative field.
• At least 5 years of experience in Model Validation, Model Risk Management, Model Monitoring, Risk Analytics, Quantitative Analytics, or a related function.
• Strong analytical, critical-thinking, and technical documentation skills.
• Experience in banking, financial services, IFRS 9/ECL, credit risk models, or other banking risk models is preferred.
• Experience with SQL, Python, R, SAS, or similar analytical tools is an advantage.

Key Skills