Model Validation Manager

Location Manchester
Discipline: Retail Banking
Job type: Permanent
Job ref: 008482
Published: 14 days ago

Model Validation Manager 

Monday – Friday

Salary up to 72k + car allowance + benefits

35 hours

Remote/Manchester office location


The Co-operative Bank are longstanding advocates of hybrid and flexible working. During the pandemic our colleagues are working from home fully supported by our bank. As we look to the future, we will continue to offer remote working in roles that allow with the option to spend 1-2 days per week in the office where desired


2021 is an exciting time to join The Co-operative Bank and our strong Independent Model Validation team. As part of this role you will work as a key part of the team challenging and influencing peers and colleagues in relation to model risk management. You will perform validations on our more technical models including credit IRB (retail and corporate), IFRS9 provisioning, stress, liquidity, finance, and operational risk models.


What You Can Expect From Us:


*       27 days holiday at start, rising to 30 days

*       Car allowance and private medical plan

*       Competitive pension / income protection / life assurance

*       2 paid days for volunteering per year

*       Flexible working arrangement including working from home.

*       Strong career path within Financial Services

*       Family friendly policies and supportive working environment

*       Recognition scheme and a culture in which we celebrate success 

*       Colleague network groups committed to inclusion and diversity within our Bank


 What would we like you to have?


*       Solid & comprehensive background & experience of developing and/or validating credit risk models (retail or corporate) using SAS.

*       Proficient in the use of statistical software, preferably SAS. Knowledge of other commercial and open source analytical tools such as R, Python is an advantage

*       Experience of IFRS9 modelling, or models used for Concentration Risk/Finance is an advantage.

*       Experience of also developing or validating liquidity models is an advantage.

*       Knowledge of UK and European banking regulations that affect models and rating systems

*       Understanding of credit risk management, analytical techniques and practices.

*       A toolset of credit risk modelling techniques such as logistic regression, linear regression, survival analysis and time series modelling

*       Understanding of industry-wide modelling practices and trends.

*       Appreciation of a number of specialist areas within the bank in addition to credit risk.

*       Good report writing and presentation skills

Key accountabilities:


The role holder provides support to the Senior Manager in managing a team of model risk technical experts. The role holder will be required to undertake the following tasks on the full spectrum of models and offer guidance to analysts also conducting these tasks:


*       Provide validation of the Bank’s models, including producing the associated documents.

*       Present & discuss the outcome of validation findings with developers and at relevant committees.

*       Analyse & discuss monitoring and other MI reports to support decision-making regarding model risks across the Bank.

*       Supporting analyst/senior analyst development

*       Help maintain the Bank’s model inventory

*       Work collaboratively with other model teams across the Bank to achieve best practice

*       Proactively encourage a culture of best model practice throughout the institution.

*       Advise the Bank’s model users on model risk related issues

*       Support the Senior Manager to ensure clarity, transparency and insight in model related discussions with internal senior management and the PRA.

*       Support the Senior Manager in the production of key documents for relevant committees across the Bank and escalating unresolved model risks via the Bank’s governance framework


If you require more information or this document in a different format, please contact our careers team.


As a reputable employer regulated by the Financial Conduct Authority, all offers of employment for this role are subject to a series of background checks, including criminal (DBS) and financial checks.


Please note: we are able to close this role at any point should a successful candidate be identified.


As a Disability Confident employer, we commit to interviewing all disabled* applicants that meet the minimum knowledge, skills & experience for the role. If you meet this criteria please advise on your application.


*As defined in The Equality Act 2010*. By ‘minimum criteria’ we mean you should provide us with evidence which demonstrates that you generally meet the level of competence required and have the qualifications, skills or experience defined as essential to perform the role.