Model Risk Validations Lead page is loaded
Model Risk Validations LeadApply locations Johannesburg
Time type: Full time
Posted on: Posted Yesterday
Time left to apply: End Date: December 5, 2024 (7 days left to apply)
Job requisition id: R25709
Job DescriptionLead the Credit Risk Independent Validation function within Group Model Risk Management and shape this function to appropriately support the Group's Model Risk Management Strategy. Drive enhancements to modelling across the group through oversight and ownership of the independent validation function, model governance processes, independent validation frameworks, participation in governance committees, and segment collaboration. This includes the design of validation-related frameworks as well as key engagements with model owners to ensure that model risk management and governance processes are followed. Management of the independent validation function, ensuring that the model validation process is appropriately focused and optimized, that validation resources are appropriately skilled, and that high-quality outputs are produced and presented to relevant committees.
About Us FirstRand 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! All suitably qualified candidates will be considered. Appointments will be made in line with the Bank's EE Strategy.
Role Purpose Lead the Credit Risk Independent Validation function within Group Model Risk Management and shape this function to appropriately support the Group's Model Risk Management Strategy. Drive enhancements to modelling across the group through oversight and ownership of the independent validation function, model governance processes, independent validation frameworks, participation in governance committees, and segment collaboration. This includes the design of validation-related frameworks as well as key engagements with model owners to ensure that model risk management and governance processes are followed. Management of the independent validation function, ensuring that the model validation process is appropriately focused and optimized, that validation resources are appropriately skilled, and that high-quality outputs are produced and presented to relevant committees.
Responsibilities: Establish mutually beneficial relationships with stakeholders that support thought leadership, innovative and integrated practice solutions. Maintain and build relationships for purposes of expectation management and reporting. Develop, encourage and nurture collaborative relationships within the FRG.Effective internal and external stakeholder engagement.Develops and maintains a wide network of business contacts.Communicate in a clear concise manner.Accountable for providing the team and management committee with appropriate feedback.Identification of efficiencies around the independent validation function and an openness to innovative thinking, as well as production of thought leadership innovation.Models under scope for the independent validation function include Credit risk regulatory capital and IFRS9 provisioning models across all portfolios and segments.Provide input into Model Development and Validation Frameworks.Participation in group training initiatives and knowledge sharing. Keep abreast of developments in model validation space and foster a flexible working culture based on innovation and excellence delivery.Focus on tactical service plans to deliver and continuously provide a consistent, seamless, and positive customer experience.Manage the quality of delivery in line with predefined quality standards, procedures, and SLAs to ensure customer goal achievement.Demonstrate leadership behaviour through personal involvement, commitment, and dedication in support of organisational values.Lead direct and indirect teams by providing a meaningful context, setting performance standards, and educating on process. Manage people by executing management responsibilities and create an environment that encourages employee growth and performance excellence.Qualifications and experience: Minimum Qualification – Degree in Statistics, Mathematical Statistics, Actuarial Science, Data Science, or related fieldsPreferred Qualification – Post-graduate degree in one of the above fields, or Fellow of the Actuarial Society of South AfricaExperience - More than 6 years of Credit Risk and/or Risk modelling and/or Model validation experience within the banking industry, with more than 4 years of experience managing a team of quantitative analysts/data scientistsJob DetailsTake note that applications will not be accepted on the below date and onwards, kindly submit applications ahead of the closing date indicated below. 05/12/24
All 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.
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