Quantitative Analytics Manager: Group Stress Testing

Nedbank; Sandton; On-site; ZAR 1,200,000 - 1,900,000; Full time

Job summary

Nedbank seeks a lead quantitative analyst in Johannesburg to head the development and governance of stress testing models and related risk analytics. You will drive MEFM-based scenarios, climate-risk analyses and ICAAP support, shaping governance and stakeholder reporting across Group Risk and Group Finance.

You will lead a team of quantitative analysts, mentor talent, and translate complex model outputs into actionable business insights for senior management and regulators.

Qualifications

• Advanced degree in a quantitative discipline required.
• Proven experience in risk modelling, stress testing and ICAAP.
• Strong programming skills in Python and other analytic languages.

Responsibilities

• Lead design, development and governance of stress testing models.
• Oversee MEFM quarterly and ad hoc stress testing.
• Translate model outputs into actionable business insights for leadership.

Skills

Quantitative modelling

Stress testing

Programming (Python)

R

MATLAB

SQL

SAS

Econometrics

Stakeholder management

Leadership

Education

Master's degree in quantitative finance or related field

FRM or CQF certification

CFA or data science qualifications

Tools

Python

R

MATLAB

SAS

SQL

Power BI

Excel

Job description

Requisition Details and Talent Acquisition Contact

Cluster: Group Finance - BSM COE (Group Capital Management and Stress Testing)

Reporting Line: Head of Group Stress Testing

Location: Johannesburg

Job Family

Data and Analytics

Quantitative

Manage Others

Job Purpose

To lead and oversee the development, governance, implementation, maintenance and enhancement of best-practice quantitative models and stress testing methodologies that support world-class risk management, informed decision-making and delivery of the Group's strategic objectives. The role has direct accountability for the Group's central macroeconomic stress testing model (MEFM), quarterly and ad hoc stress testing, climate-risk scenario analysis and delivery of regulatory or industry-wide stress tests.

The role is located in the Group Stress Testing team within the broader Group Capital Management and Stress Testing function. In addition to its specialist stress testing mandate, the role provides quantitative, analytical and execution support across the Group's capital risk management capabilities, including ICAAP, capital planning, risk appetite, recovery and resolution planning, and related senior management, Board and regulatory reporting.

The role combines deep quantitative expertise, strong programming capability, people leadership, stakeholder influence and disciplined execution. Success is measured through technical quality, robust governance, practical business integration, effective team leadership and consistent delivery against agreed priorities.

Key Responsibilities

1. Quantitative model design, development and implementation

• Lead the design, development, implementation, maintenance and monitoring of stress testing models within MEFM, including regression, panel-data econometrics, vector autoregressive models and other appropriate forecasting techniques.
• Ensure models and methodologies are fit for purpose and aligned with applicable regulatory requirements, accounting standards, internal policies, industry practice and evolving quantitative techniques.
• Define modelling standards, review and challenge technical work completed by team members, and ensure models satisfy approved governance and quality requirements.
• Monitor model performance against defined benchmarks, identify limitations and enhancement opportunities, and oversee remediation through prioritised action plans.
• Investigate and implement advanced modelling approaches, including machine learning and data-science techniques, where these provide demonstrable value and remain explainable and governable.
• Contribute hands-on technical expertise where required, including coding, model prototyping, data analysis, testing and production implementation.

2. Stress testing execution and climate-risk capability

• Oversee the quarterly and ad hoc execution of MEFM, ensuring timely, accurate, controlled and well-documented delivery.
• Lead or support the delivery of regulatory and industry-wide stress tests, including the South African Reserve Bank Common Scenario Stress Test and related supervisory engagements.
• Steer the Group Stress Testing team's climate-risk stress testing and scenario-analysis capability, including research into emerging methodologies, data requirements and regulatory expectations.
• Translate scenarios into practical modelling approaches and ensure appropriate integration across risk types, portfolios and financial outcomes.
• Coordinate dependencies across Group Risk, Group Finance and business units to ensure complete, consistent and explainable stress testing results.

3. Capital risk management and business integration

• Provide quantitative and analytical support to the broader Group Capital Management and Stress Testing function, strengthening the Group's overall capital risk management capabilities.
• Contribute to ICAAP through scenario design, portfolio and risk analysis, vulnerability assessment, capital impact analysis and identification of key value drivers.
• Support capital planning, risk appetite calibration, mitigation strategies, contingency planning, recovery planning and resolution planning with robust analytics and stress testing insights.
• Translate complex model outputs into clear business insights, recommendations and decision-useful information for senior stakeholders.
• Promote effective adoption of stress testing methodologies and results across strategic, financial and risk management processes.
• Identify opportunities to improve analytical solutions, processes and systems while balancing effectiveness, control, operational cost and maintainability.

4. Governance, assurance and stakeholder management

• Maintain robust model and process governance through comprehensive documentation, quality assurance, version control, testing, issue management and transparent reporting.
• Manage model risk by identifying, assessing, prioritising and remediating model limitations, control gaps and enhancement requirements.
• Support internal and external assurance processes, including independent model validation, internal and external audit, regulatory reviews and technical governance forums.
• Prepare and present quarterly and ad hoc stress testing results to senior management and governance committees, including Group ALCO, GRCMC, executive management, Board committees and regulators, as applicable.
• Build trusted relationships across Group Risk, Group Finance, business clusters, technology and data teams, assurance providers and external stakeholders.
• Understand stakeholder needs and deliver analytical solutions, research and recommendations that are technically sound, appropriately governed and relevant to business decisions.

5. Stress Testing Technical Forum secretariat responsibilities

• Provide professional secretariat support to the Stress Testing Technical Forum, ensuring that its administration, records and follow-up processes support effective technical governance and decision-making.
• Coordinate the annual meeting calendar and prepare structured agendas in consultation with the Chairperson and relevant stakeholders, confirming the purpose, presenter, decision requirement and supporting documentation for each item.
• Manage the timely collation, quality review and circulation of meeting packs and submissions, ensuring that materials are complete, appropriately approved, version controlled and distributed within agreed governance timelines.
• Prepare clear, accurate and decision-focused minutes that capture key deliberations, technical challenge, decisions, approvals, conditions, dissenting views and agreed actions, and obtain confirmation and sign-off in accordance with forum requirements.
• Maintain the forum action and matters-arising log, assign accountable owners and target dates, monitor progress, follow up on overdue items and elevate material delays or unresolved dependencies to the Chairperson.
• Retain an orderly and auditable repository of agendas, minutes, attendance records, submissions, decisions and action-tracking evidence, and coordinate governance follow-through to relevant model, risk and management committees where required.

6. People leadership and operational excellence

• Lead, coach and develop a team of quantitative analysts, setting clear objectives, role expectations, measurable deliverables and standards of conduct.
• Manage performance fairly and consistently, provide regular feedback, address development needs and recognise strong contribution.
• Build team capability through technical mentoring, knowledge sharing, succession planning, career development and targeted learning.
• Recruit and onboard talent in accordance with approved processes, and deploy capability effectively across priorities.
• Create an inclusive, high-performance environment that encourages accountability, collaboration, innovation, constructive challenge and ownership of outcomes.
• Plan and allocate work, manage competing priorities and dependencies, and ensure high-quality delivery within agreed timelines.
• Contribute to the Group's culture, transformation and client-service objectives by leading through the Nedbank values and supporting continuous improvement.
• Honours degree or equivalent postgraduate qualification in a quantitative discipline such as quantitative finance, financial mathematics, statistics, econometrics, actuarial science, data science or a related field.

Preferred qualifications and professional certifications

• Master's degree in a relevant quantitative finance or risk discipline.
• Financial Risk Manager (FRM) certification and/or Certificate in Quantitative Finance (CQF) are regarded as key differentiators for the role.
• Other relevant professional certifications, including CFA, data science, artificial intelligence or machine learning qualifications, would be advantageous.
• At least 6 years of relevant quantitative analytics experience in the financial services industry, including risk modelling, stress testing, forecasting, capital management or a closely related discipline.
• At least 6 years of practical programming experience, with strong proficiency in Python and experience in one or more additional languages or analytical platforms such as R, MATLAB, SAS or SQL.
• At least 3 years of experience managing, leading or providing formal oversight to quantitative professionals or teams.
• Demonstrable experience developing, implementing, governing and explaining quantitative models in a controlled financial-services environment.
• Experience engaging senior management, governance committees, regulators, auditors or model validation functions.
• Advanced capability in Microsoft Excel, Word and PowerPoint; experience with Power BI or comparable visualisation tools is advantageous.

Technical and Professional Competencies

• Advanced quantitative modelling, econometrics, forecasting, statistical analysis and scenario design.
• Strong understanding of stress testing methodologies, including model development, calibration, sensitivity analysis, back-testing, performance testing, system testing and unit testing.
• Advanced programming for quantitative analysis, data engineering, model development, automation and reproducible analytical workflows.
• Proficiency across relevant analytical languages, model-development environments, databases and version-control practices.
• Knowledge of banking regulation, prudential capital frameworks, ICAAP, risk appetite, accounting concepts and capital management principles.
• Practical knowledge of climate scenario analysis and climate-risk stress testing.
• Model governance, documentation, quality assurance, issue remediation and assurance engagement.
• Strategic planning, operations planning, change management and delivery management.
• Strong business writing, presentation and data-visualisation capability.
• Ability to convert complex technical results into clear commercial and risk insights.
• Earning trust through integrity, fairness, transparency and courageous conversations.
• Coaching, delegation and empowerment.
• Clear verbal and written communication, with the ability to explain complex technical matters accurately and simply.
• Sound judgement and evidence-based decision-making.
• Business acumen and strategic orientation.
• Driving for results with personal accountability and an output-focused mindset.
• Planning, organising and disciplined execution against defined timelines.
• Collaboration across diverse professional disciplines and stakeholder groups.
• Intellectual curiosity, continuous learning and willingness to challenge established approaches constructively.
• Resilience, adaptability and composure in a dynamic, high-accountability environment.

Role Success Indicators

• Reliable, accurate and timely delivery of quarterly, ad hoc and regulatory stress testing exercises.
• Models and methodologies that remain fit for purpose, well governed, appropriately documented and responsive to emerging requirements.
• Decision-useful insights that strengthen stress testing, ICAAP and the Group's broader capital risk management capabilities.
• Effective engagement with senior stakeholders, assurance providers and regulators.
• A capable, engaged and accountable quantitative team with clear development and succession plans.