Risk Management - Model Risk Governance and Review (CIB Finance) - Associate

Financial Institutions routinely use models for a broad range of activities including analyzing business strategies, informing business decisions, identifying and measuring risks, valuing exposures or instruments, hedging derivative positions, conducting stress testing, assessing capital adequacy, managing clients assets, informing investment process, measuring compliance with internal limits, maintaining the formal control apparatus of the bank, meeting financial or regulatory reporting requirements and issuing public disclosures.

Model Risk arises from the potential adverse consequences of making decisions based on incorrect or misused model outputs and reports, leading to financial loss, poor business decision making, or reputational damage.

As an Associate in the Model Risk Governance and Review (Finance) team, you will engage in model validation activities, evaluate model specifications, and ensure the robustness of numerical aspects.

You will liaise with Risk and Finance professionals to provide oversight and guidance on model usage, and maintain the model risk control apparatus of the bank.

This role offers the opportunity to stay updated on the latest developments in products, markets, models, and risk management practices.

Job Responsibilities


* Engage in typical model validation activities, including evaluating the conceptual soundness of model specifications, the reasonableness of assumptions and reliability of inputs, the completeness of testing performed to support the correctness of the implementation, the robustness of numerical aspects, and the suitability and comprehensiveness of performance metrics and risk measures associated with the use of the models.


* Perform additional model review activities, including proposing enhancements to existing models, assessing extensions to the scope of existing models, and developing benchmarking models.


* Apply in-depth understanding of the drivers of balances and revenues for different investment banking and Markets products and businesses by using a combination of research and liaising with business lines.


* Liaise with Risk and Finance professionals to provide oversight and guidance on appropriate usage, controls around model restrictions and limitations, and findings for ongoing performance assessment and testing.


* Maintain model risk control apparatus of the bank for the coverage area and serve as the first point of contact.


* Stay updated on the latest developments in the coverage area in terms of products, markets, models, risk management practices, and industry standards.

Required qualifications, skills and capabilities


* Strong quantitative and analytical skills: The role requires a strong quantitative background based on a Master or PhD Degree in a quantitative discipline such as Math, Statistics, Economics, Finance, Engineering, etc.


* Domain expertise in PPNR and balance sheet modeling, stress testing exercises (such as CCAR, ICAAP, e...