VP - Financial Model Validation & Control-Investment Bank
Newly created role
About Our Client
Our client is one of the largest Global Banks with demonstrated strengths across Investment, Commercial and Retail Banking. They are in the process of setting up a Finance Model Validation & Control team and is looking for a Director to spearhead the same.
You would be responsible for setting-up the Finance Model Control office for the bank. This unit would be responsible for ensuring model governance & control for financial models. Model Control Office is a newly created unit that is responsible for ensuring Finance-owned models meet the governance standards laid down by the firm's Enterprise Risk Management Framework. This function would be responsible for partnering with model owners across Financial Control, Product Control, Business Performance & Analytics, etc to ensure delivery of the Bank's strategic goals.
Some of your key responsibilities shall be as follows:
- Set-up and lead the Model Control Office for the bank
- Review and validate models in order to ensure control/governance
- Work with model owners to ensure Inventory Maintenance, Model Monitoring, Model Approval, Documentation, Model Change Management, Model Decommissioning
- Oversee the overall control environment for model risk while working along with Model Development & Validation teams
- Establish a periodic controls and governance process including monitoring model usage/changes
- 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
The Successful Applicant
- Bachelor's/Masters degree in Mathematics/Physics/Financial engineering, etc
- 6+ years of total work experience with strong quantitative & analytical skills and technical writing skills.
- Solid understanding/experience of financial model validation along with ability to establish a strong control environment
- Excellent technical writing skills along with the ability to produce high quality written communication including reviews of models, risk policies and presentations for technical and non-technical stakeholders
- Strong oral communication skills and experience of dealing with stakeholders in different locations
- Hands-on with Excel along with excellent understanding of Macros
What's on Offer
Excellent Opportunity to work within a leadership role with one of the largest Global Banks. The organization is known to encourage Work Life Balance and promotes International Mobility.