Model Control Office

Job Title: Model Control Office
Location: Chennai

About Barclays
Barclays is a British universal bank. We are diversified by business, by different types of customers and clients, and by geography. Our businesses include consumer banking and payments operations around the world, as well as a top-tier, full service, global corporate and investment bank, all of which are supported by our service company which provides technology, operations and functional services across the Group.

Risk and Control Objective
Ensure that all activities and duties are carried out in full compliance with regulatory requirements, Enterprise Wide Risk Management Framework and internal Barclays Policies and Policy Standards.

Working Flexibly
We’re committed to providing a supportive and inclusive culture and environment for you to work in. This environment recognises and supports ways to balance your personal needs, alongside the professional needs of our business. Providing the opportunity for all our employees, globally to work flexibly empowers each of us to work in a way that suits our lives as well as enabling us to better service our customers’ and clients’ needs. Whether you have family commitments or you’re a carer, or whether you need study time or wish to pursue personal interests, our approach to working flexibly is designed to help you balance your life.
If you would like some flexibility, then please discuss this with the hiring manager.

Introduction:

- Managing a model control framework within BI Finance that complies with the Model Risk Management (MRM) framework & the Enterprise Risk Management Framework (ERMF).
- Distinct from both model development and independent model validation teams, the Model Control Office (MCO) oversees the overall control environment for model risk.
- Ad hoc projects.

What will you be doing?

Working with model owners to ensure the following is executed according to policy: Inventory Maintenance/Attestation, Model Monitoring, Model Approval, Documentation, Model Change Management, Model Decommissioning and Model Implementation Controls.
- Partnering with model owners to judge effectiveness of models including challenging where needed.
- Producing high quality model documentation. In order to write the documents, the individual will need to work with all relevant teams involved in the model lifecycle to understand the scope, assumptions, limitations and controls operated by them.
- Working with IVU through the model approval process.
- Producing MI for the BI Finance - Model Controls Office.
- Establishing a periodic controls and governance process including monitoring model usage/changes.
- Reporting functionally and locally to VP - MCO Chennai.

What we’re looking for:

- Experienced with MS office toolkit (Word, PPT, Excel, Access Database etc)
- Excellent communication and presentation skills in both formal and informal settings & ability to interact with the region and UK / US as part of a global team (written and verbal) Strong control awareness - in particular, the ability to identify and escalate potential control breakdowns and to streamline processes in an effective and efficient manner.
- Has the initiative and ability to break down problems into components parts and resolving them
- Confident and assertive manner

Skills that will help you in the role:

- CFA / Masters in Finance / Financial Engineering would be an advantage
- Articleship / Industrial trainee in mid to large sized firms
- Model Risk exposure in large financial institutions / banks preferred

Where will you be working?

Chennai

Be More at Barclays
Interested and want to know more about Barclays? Visit home.barclays/who-we-are/ for more details.

Purpose, Values and Mindset

We deploy finance responsibly to support people and businesses, acting with empathy and integrity, championing innovation and sustainability, for the common good and the long term.
Our values underpin everything we do: Respect, Integrity, Service, Excellence and Stewardship.

Respect
We harness the power of diversity and inclusion in our business, trust those we work with, and value everyone's contribution.

Integrity
We operate with honesty, transparency and fairness in all we do.

Service
We act with empathy and humility, putting the people and businesses we serve at the centre of what we do.

Excellence
We champion innovation, and use our energy, expertise and resources to make a positive difference.

Stewardship
We prize sustainability, and are passionate about leaving things better than we found them.
Our Mindset shapes how we take action, living by our Values, driven by our Purpose, always with our customers and clients at the heart of what we do; our Mindset is to Empower, Challenge and Drive.

Empower
Trust and support each other to deliver. Make decisions with those closest to the topic. Include diverse perspectives. Celebrate success and learn from failure.

Challenge
Question whether things can be done better. Use i