Assistant VP, Credit Risk Model Validation

UOB Group; Manchester (CT); On-site; USD 85,000 - 115,000; Full time

Job summary

1011 United Overseas Bank Ltd is seeking a quantitative risk professional to independently validate credit risk models, including PD, LGD, and EAD, and to assess IFRS 9 compliance across retail, corporate, and wholesale portfolios.

You will develop validation plans, document findings, and present recommendations to model owners, senior management, and auditors, staying current with Basel and MAS guidelines and collaborating with development teams.

Qualifications

• 2–5 years of experience in credit risk model validation or related field.
• Strong understanding of credit risk modeling techniques.
• Experience with model validation processes and regulatory expectations.

Responsibilities

• Validate PD, LGD, EAD and IFRS 9 models across portfolios.
• Challenge model assumptions and data inputs.
• Develop validation plans with quantitative and qualitative analyses.
• Document findings and recommendations in validation reports.
• Communicate results to developers, owners, senior management, auditors.
• Stay updated on Basel, IFRS 9, MAS and industry practices.
• Collaborate with model development teams for improvements.
• Contribute to continuous improvement of validation framework.
• Participate in ad-hoc model risk projects.

Skills

Credit risk modeling

Quantitative analysis

Model validation

Education

Quantitative degree (BSc/MSc/PhD)

Strong quantitative background

Job description

Company: 1011 United Overseas Bank Ltd

About UOB United Overseas Bank Limited (UOB) is a leading bank in Asia with a global network of more than 500 branches and offices in 19 countries and territories in Asia Pacific, Europe and North America. In Asia, we operate through our head office in Singapore and banking subsidiaries in China, Indonesia, Malaysia and Thailand, as well as branches and offices. Our history spans more than 80 years. Over this time, we have been guided by our values – Honorable, Enterprising, United and Committed. This means we always strive to do what is right, build for the future, work as one team and pursue long-term success. It is how we work, consistently, be it towards the company, our colleagues or our customers.

Job Responsibilities

• Conduct independent validation of a wide range of credit risk models, including PD, LGD, EAD, stress testing, and IFRS 9 models, across various portfolios (retail, corporate, wholesale).
• Provide effective challenges to all model aspects including theoretical / conceptual soundness, model assumptions, model design, data inputs, modeling process, and model outcomes.
• Develop and implement comprehensive validation plans, including quantitative and qualitative analyses, backtesting, sensitivity analysis, and benchmark comparisons.
• Document validation findings, limitations, and recommendations clearly and concisely in validation reports.
• Effectively communicate validation results and recommendations effectively to model developers, model owners, senior management, and internal/external auditors.
• Stay abreast of industry best practices, regulatory requirements (e.g., Basel, IFRS 9, MAS), and emerging trends in model risk management and quantitative finance.
• Collaborate with model development teams to understand model methodologies and provide constructive feedback for model enhancements.
• Contribute to the continuous improvement of the model validation framework, policies, and procedures.
• Participate in ad-hoc projects related to model risk management and quantitative analysis as required.

Job Qualifications

• Undergraduate, Master s or Ph.D. in a quantitative field such as Financial Engineering, Mathematics, Statistics, Physics, Economics, or Computer Science.
• Minimum of 2-5 years of experience in credit risk model validation, model development, or quantitative risk management within a financial institution.
• Strong understanding of credit risk modeling techniques.