Job DescriptionA Model Risk Specialist is a risk analyst / data scientist that performs independent validation of models and a variety of activities in the pursuit of managing model risk involved in the use of models. The Model Risk Specialist vacancy is in a team that works mainly with credit risk regulatory capital and provisioning models.Hello future Model Risk Specialist AnalystFirstRand believes that its people are its single most important resource and will not operate in a sector unless it has people who are right for that market and who share FirstRand's business values. We recruit self-starters who have a passion for what they do. We empower them, hold them accountable and reward them appropriately. We value diversity in our people, particularly for the way that this contributes to innovative thinking. If you think you will flourish in our environment, and you believe you have the necessary skills and competencies for the position advertised, then we are looking for you!Are you someone who can:Perform tasks that include model independent validation, reporting, presenting at governance committees, shaping of frameworks, researching methodologies, etc., that contribute to the management of model risk.Review and/or reperform the model building process.Document and communicate independent validation findings, corrective actions, and advise on model appropriateness.Apply a risk proportionate approach to different model validations.Assess the adequacy and/or best practice in strategy, frameworks, policies, and business process alignment to modelling practice.Present to designated validations committee independent validation outcomes and corrective actions.Communicate effectively and maintain a good relationship with key stakeholders.Optimise processes through continuous updates to frameworks and governance design.You will be an ideal candidate if you:Have completed a bachelor's degree (Honours preferable) in one of the following disciplines: Statistics, Mathematics, Quantitative Risk Management, Engineering, Actuarial science, Data science, or similar.Have up to 5 years of financial modelling, risk modelling, and/or model validation experience within a banking context.Proficiency in programming languages that can include SAS, SQL, Excel, Python, and R.Experience with the following model types/usage advantageous:Scorecard modelsFinancial CrimeGroup TreasuryCredit risk regulatory capital and provisioning modelsPricingInsuranceAdvanced AnalyticsYou will have access to:Challenging work in a complex and exciting environment.Opportunities to innovate and create efficiencies.We can be a match if you are:Have a good understanding of models from different risk types.Curious & courageous - driven and brave enough to always want to know and learn more.Obsessed with mastery - you know what it takes to become good at what you do and are constantly pushing yourself.Are you interested to take the step? We look forward to engaging with you further. Apply now!Job DetailsApplication Closing Date: 09/09/24All appointments will be made in line with FirstRand Group's Employment Equity plan. The Bank supports the recruitment and advancement of individuals with disabilities. In order for us to fulfill this purpose, candidates can disclose their disability information on a voluntary basis. The Bank will keep this information confidential unless we are required by law to disclose this information to other parties.Introduce yourself to our recruiters and we will get in touch if there's a role that seems like a good match.Should you have any queries, please log it via MyQ.About UsThe FirstRand Corporate Centre (FCC) houses many of the critical functions required by a large and complex financial services group. FCC's stakeholders are both external, such as regulators, shareholders, global developmental institutions, and government; and internal, mainly the businesses that service the group's customers. These critical functions cover risk, compliance, governance, internal audit, treasury, finance, and tax amongst many others. They require deep specialist and technical skills and ultimately represent the custodianship of the FirstRand group's licence to operate.FCC employees develop a unique perspective of the group because nowhere else can you own or be part of a mandate that operates across the portfolio. This allows for both big picture thinking and operational learning. It is also a great place to drive collaboration and a place to have a significant impact.
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