NEW Group Model Risk Analyst Required By FTSE Top 100 Financial Services Company

Posted 28 January by in-pact consulting

Do you have a risk qualification as well as experience within the design and features of products sold by the insurance industry and their purpose and use of models within the sector?

Do you have a good appreciation of the MRCF (or IM) framework as well the model risk universe plus experience of using OneSumX & producing reports/MI to deadline?

Are you looking to join a famous FTSE Top 100 financial services company, live within commutable distance of Hove or prepared to relocate to this area and keen to secure a varied and challenging risk analyst role offering a competitive salary & unrivalled benefits package?

The Model Risk & Control Framework (MRCF) used by our client is designed to reduce the risks relating to model uncertainty. The Framework consists of group oversight by the Model Risk & Control Committee (MRCC) through a model inventory, and reporting of model risk management activities by each division, and group policies and standards.

This new vacancy (Group Model Risk Analyst) will assist the Model Risk Director (MRD) and Group Model Risk Manager in ensuring good oversight of the framework by the MRCC.

Primary responsibilities will be the maintenance and development of the Model Inventory, currently maintained offline, but expected to migrate shortly onto OneSumX.

The principal accountabilities are summarised below:-

Maintain and develop the Model Inventory on Excel / OneSumX / other system, including keeping its entries updated with data supplied by model owners; and production of material to be presented to MRCC, including MI from the inventory and directly from each division

Support the MRD to develop the MRCF, enhancing the framework in the light of emerging experience as it is embedded, and developing new elements where necessary, including the Culture work stream and Training work stream

Assist the MRD monitor progress against the Group’s implementation plan for the embedding of the MRCF, advising the MRD where implementation risks are running ahead of expectations.

Ensure each division prepares, obtains approval for, and executes a rolling validation plan, in line with the relevant group standards

Act as an advocate on the Group’s MRCF (incl. policy and standards), providing guidance and support to stakeholders (as required)

Assess MI delivered by each division. Prepare timely and accurate MI and reports to support MRCF reporting (including exposures vs. appetite; Model Inventory completeness; accepted risks; control issues; risk events; controls assurance, etc.)

Ensure complete coverage of 'risk maps’ (on OneSumX, or equivalent) for the Group’s significant models

Work with risk functions to ensure effective oversight of the application of the MRCF across the Group

Maintain MRCF training material as accurate and up-to-date, and ensure that this is deployed effectively

Support the effective and efficient operation of the MRCC, including the preparation of meeting packs, and the production of minutes from the meetings

Applications for this unique role are particularly invited from candidates with a risk qualification and experience within the design and features of products sold by the insurance industry and their purpose and use of models within the sector. A good appreciation of the MRCF (or IM) framework as well the model risk universe would also be required. In addition you will have experience of using OneSumX, producing reports/MI to deadline.

Interested?

As well as a very competitive remuneration our client can offer a generous pension scheme, life assurance, 22 days’ (with potential to rise to 26 days) holiday, discretionary performance related bonuses, paid overtime, a variety of share schemes, discounts at both a huge range of high street stores and their own great products.

Please forward your CV for full details and further consultation.

Required skills

  • Analysis
  • Insurance
  • Microsoft Excel
  • Risk
  • Risk Management

Application questions

Have a risk qualification experience in the design & features of insurance industry products?
Have good appreciation of the MRCF (or IM) framework as well the model risk universe?
Experienced of using OneSumX & producing reports/MI to deadline?
Do you live within commutable distance of Hove or prepared to relocate to this area?
Looking to join a 1st class company offering a competitive salary & unrivalled benefits package?

Reference: 34337911

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