Senior Model Validation Analyst
Monday – Friday
35 hours
Remote/Manchester office location
Why join our Risk Model Validation team?
2022 has already been a milestone year for The Co-operative Bank. We are really proud of the progress we are making with our transformation plan and Environmental, Social and Governance commitments, ensuring we remain well positioned to continue to be a leader in ethical banking in our 150th year. These results demonstrate that our leading position on ethical and social matters is not only good for our communities, but also delivers strong commercial outcomes. As ethics and sustainability become increasingly important to consumers, now more than ever, there is an important role for an ethical bank like us in the market place.
As a Senior Analyst within our Model Validation team you will work as a key part of the team challenging and influencing stakeholders in relation to model risk management. You will perform validations across our 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
Strong bonus scheme
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.