Model Risk Officer, Director

2 weeks ago

Chennai, Tamil Nadu, India NatWest Group Full time

Join us as a Model Risk Officer

  • In this key role, you'll support the bank-wide policy covering the governance and control of model risk, developing, maintaining, and promoting the risk appetite setting for model risk
  • You'll validate credit risk models used in credit decisioning and capital computation and ensure they are fit for purpose while providing effective challenge to the model development process
  • We'll look to you to implement and maintain appropriate and proportionate mandatory procedures that define the governance of models
  • You'll gain great exposure for you and your work, with the opportunity to develop key relationships with relevant management, colleagues, model owners, developers, and end-users
  • We're offering this role at director level
What you'll do

As a Model Risk Officer, you'll be maintaining and controlling an aggregated bank-wide model inventory and associated model risk assessments. You'll support the delivery of bank-wide policy and mandatory procedures for the governance and control of model risk, including related documents required by the policy framework team.

You'll perform pre-implementation model validations and periodic independent reviews of credit risk models in use. Additionally, you'll be supporting the model risk control environment and governance process through effective tracking and proactive escalation of models related issues. This will include ensuring compliance with the operational risk framework, including RCA and you'll be responsible for managing and coaching a group of model validators.

You'll also be:

  • Working with the team to design and roll-out a bank-wide risk appetite approved by our executives and cascaded to businesses, functions, and legal entities
  • Helping to enhance and maintain model validation standards and develop automated model validation tools
  • Assisting all areas in having appropriate governance and minimum standards in place to enable each area to report and manage their model risk and remain within their executive's risk appetite
  • Working across all asset classes to effectively and proactively support model risk with the management and remediation of its internal and external audit issues
The skills you'll need

We're looking for someone with significant experience of model reviews or the model development of relevant risk models. You'll need a strong understanding of the financial industry, more specifically, model-related regulatory requirements. You'll also have prior project management experience with a demonstrated ability to establish a clear direction and set and track objectives.

Crucial to your success in this role will be problem solving and analytical skills and your ability to communicate with and influence senior management and develop effective relationships with a range of internal and external stakeholders.

You'll also need:

  • Financial acumen, and the ability to grasp the different model risk indicators tied to the bank's assets, business lines, platforms, regions, markets, regulations, and stakeholders
  • Expert knowledge of policy management and control processes across multiple lines of business
  • Experience writing and proof-reading papers of sufficient quality to be submitted to regulators and auditors
  • The ability to work closely with senior team members to deliver outcomes consistent with industry leading practices

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