Senior Model Risk Manager

Barclay Simpson are pleased to be instructed on a search on behalf of the risk department a market leading private investment platform in the UK.  The firm offer a range of savings and investment products to retail investors.  The firm work with a wide range of institutional investors, as well as operating their own internal asset management business.

Following the appointment of new CRO in 2021, the risk department has undergone a significant overhaul, doubling in size and in some cases setting up entirely new capabilities.  One such area is Model Risk, which was set up in September 2022 and is now 2 people, with an additional 2 hires signed off for this year.

The team is setting up from scratch an internal validation function, and the new hires will be instrumental in helping implement the validation framework for the most material models used across the group ( a range of EUC’s, capital, stress and investment risk models).

There are 2 positions and both are available on a remote basis with occasional travel to the office.

Responsibilities as follows:

• • Model Validation framework – in conjunction with the Head of Model Risk manage and maintain the Group Model Risk Framework
  • Subject matter expert on statistical modelling
  • Provide thought leadership to the Head of Model Risk, CRO and the Company Secretariat to ensure an appropriate governance structure is in place
  • Model Validation – provide effective challenge to model assumptions, mathematical formulation, and implementation across business lines
  • Model support – Drive stakeholder interaction with model developers and business owners during the model lifecycle
  • Carry out validation of specific models. Key models will include: capital, liquidity, stress  testing, client insight, wealth and fund management
  • Be accountable for day to day activities including maintenance, regular update and accuracy of the model register and the management of the validation schedule
  • Assess and quantify model risk due to model limitations to inform stakeholders of their risk profile and development of compensating controls
  • Shape the model risk strategy, and provide expertise cross-functional initiatives within the model risk organisation
  • Own and present model validation findings to Accountable Executives and executive level committees

We are looking for people with strong experience of model validation or development with an interest in playing a key role in developing a function almost from scratch.  Prior wealth management experience would be useful but is not essential.

If this role is of interest, please apply with your Cv and contact number.