Model Risk Officer

Bangalore, India
Permanent - Full Time
NatWest Group
Job category
Risk Oversight & Challenge - Control, Oversight & Assurance
Closing date for applications: 07/06/2023

Our people work differently depending on their jobs and needs. From hybrid working to flexible hours, we have plenty of options that help our people to thrive.

This role is based in India and as such all normal working days must be carried out in India.

Join us as a Model Risk Officer

  • We’ll look to you to review assigned models across our bank to make sure they’re fit for purpose and perform model risk analysis to satisfy regulatory queries and requirements
  • Day-to-day, you’ll make sure that the assigned models focus on our customers, bank, strategic decision-making, external disclosures and regulatory calculations or returns
  • Risk plays a critical role when it comes to our bank’s safety, so if you feel comfortable challenging the status-quo and making improvements, this position will suit you perfectly
  • We're offering this role at senior analyst level

What you’ll do

Acting as our barometer for risk, you’ll make sure that all models are appropriate for their designated uses and that significant model risks are identified and communicated to senior management and model end-users.

Alongside this, you’ll oversee the first line of defence model assurance activities that’re performed by model development teams, advise on how model risk can be reduced and report on model risk management reviews to senior management, regulators, model developers and end-users.

Your top priorities will include:

  • Helping with the maintenance and control of an aggregated bank-wide model inventory and associated model risk assessments
  • Implementing and maintaining appropriate and proportionate mandatory procedures to define the governance of models
  • Developing, maintaining and promoting risk appetite setting in relation to model risk
  • Assisting with the development of your team and coaching colleagues as required
  • Supporting key relationships and interactions with relevant management, colleagues, model owners, developers and end-users

The skills you’ll need

To be successful in this role, you’ll need at least two years' experience of C++ and Python coding and an understanding of risk modelling within traded market risk, non-traded market risk, counterparty credit risk and economic capital or pension risk.

Additionally, you’ll have an excellent academic record, including a postgraduate degree in a quantitative subject, like mathematics, physics or quantitative finance, or a similar professional qualification. You’ll also have knowledge of risk-model-related regulatory requirements.

Furthermore, you’ll need:

  • Great problem-solving and analytical skills and the ability to help with team planning and the prioritisation of deliverables, including the planning of assigned projects in a roadmap
  • Experience of taking responsibility for the model reviews in your areas of expertise, influencing stakeholders and challenging practices where necessary before escalating any concerns
  • Good written and verbal communication skills and the ability to simplify complex concepts for a wider audience, including senior management, and provide formal written model reviews
  • A proficiency in developing effective relationships with a range of internal and external stakeholders and senior management
  • An understanding of advanced quantitative modelling and knowledge of the associate risk management issues in a practical business context