Operational Risk Model Governance Expert
8 hours ago
Job Overview
The Operational Risk Model Governance Expert plays a critical role in ensuring the effective governance, validation, and compliance of risk models within the operational risk framework.
Key Responsibilities:
- Model Governance: Lead the governance process for operational risk models, including model validation, documentation, and periodic reviews to ensure all models comply with internal policies and external regulatory standards.
- Risk Assessment: Conduct thorough risk assessments of operational risk models to identify potential weaknesses, limitations, and areas for improvement.
- Regulatory Compliance: Ensure all models adhere to relevant regulatory requirements, such as those set out by the PRA, FCA, and Basel III/IV frameworks.
- Stakeholder Collaboration: Work closely with risk management teams, model developers, and other stakeholders to ensure effective communication and understanding of model-related issues.
- Model Validation: Oversee the independent validation of models, ensuring their accuracy, robustness, and appropriateness for the operational risk domain.
- Reporting and Documentation: Prepare detailed reports and documentation for internal governance committees and regulatory bodies, outlining model performance, risks, and compliance status.
- Continuous Improvement: Stay updated on industry trends, regulatory changes, and best practices to continuously improve the model governance framework.
Qualifications:
- Extensive experience in operational risk management, with a focus on model governance and validation.
- In-depth knowledge of regulatory requirements related to operational risk models.
- Strong analytical skills, with the ability to assess and improve model performance.
- Excellent communication and stakeholder management skills.
This role is critical for ensuring that operational risk models are effectively governed, compliant, and aligned with the organization's risk management objectives. With an estimated salary of $120,000 - $150,000 per year, this position offers a competitive compensation package.
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