Senior Model Risk Specialist

FirstRand Corporate Centre; Johannesburg; On-site; ZAR 600,000 - 1,200,000; Full time

Job summary

A leading company in financial services is seeking a seasoned professional to join their model risk team in Enterprise Risk Management. This role involves model independent validation, reporting, and optimizing processes, requiring a solid background in statistics or quantitative disciplines. Candidates should have substantial experience in financial and risk modelling within banking, excellent communication skills, and proficiency in programming languages like SAS, SQL, Python, and R.

Qualifications

• 7-10+ years of financial modelling, risk modelling and/or model validation experience within a banking context.
• Proficiency in programming languages including SAS, SQL, Excel, Python, and R.

Responsibilities

• Perform model independent validation and model risk management.
• Communicate validation findings and advise on model appropriateness.
• Present independent validation outcomes to validation committees.

Skills

Financial modelling

Risk modelling

Model validation

Communication

Education

Bachelor’s degree in Statistics, Mathematics, Quantitative Risk Management, Engineering, Actuarial science, Data science or similar

Tools

SAS

SQL

Excel

Python

R

Job description

Job Location : Gauteng, Johannesburg Deadline : July 10, 2025 Quick Recommended Links

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Exciting new opportunity in Enterprise Risk Management to join the model risk team. Have a good understanding of models from different risk types and be able to perform tasks that include model independent validation, reporting, presenting at governance committees, shaping of frameworks, researching methodologies, etc, that contribute to the management of model risk.

Are you someone who can do :

Model independent validation and model risk management

• Review and / or reperform model building process.
• Document and communicate independent validation findings, corrective actions and advise on model appropriateness
• Apply risk proportionate approach to different model validations.
• Assess the adequacy and / or best practice in strategy, frameworks, policies and business process alignment to modelling practice.
• Present to designated validations committee independent validation outcomes and corrective actions.
• Communicate effectively and maintain a good relationship with key stakeholders.
• Optimise processes through continuous updates to frameworks and governance design.

Education / Qualifications

• Bachelor’s degree in one of the following disciplines : Statistics, Mathematics, Quantitative Risk Management, Engineering, Actuarial science, Data science or similar.

Skills and Competencies

• 7 – 10 + years of financial modelling, risk modelling and / or model validation experience within a banking context.
• Proficiency in programming languages that can include SAS, SQL, Excel, Python and R.

Experience with the following model types / usage advantageous :

• Group Treasury
• Credit risk regulatory capital and provisioning models
• Insurance
• Advanced Analytics
• Experience in model building will be a bonus