Front Office Models - SME (Model Risk)
A Leading Financial Services business are looking to hire an experienced Front Office Models SME; who ideally holds a background in Markets, as well as Governance and Controls.
- £500 - £625 per day (Inside IR35/Umbrella or PAYE only)
- The role is an initial 9 month contract with scope to roll into a couple of years
- The role is a Hybrid working (3 days a week in the office, 2 from home)
- Based in London, Canary Wharf
Key Skills
- 5-10 years' experience in controls and governance
- Good understanding of Front Office models
- Strong influencing skills * Strong written, verbal, and interpersonal communication skills
- Track record of driving change in the risk and control space in a collaborative way
- Experience working in large organizations preferable
- Strong IT/technical skills desirable
Role Description
- The Model Risk Control team directly supports Markets business globally. Our goal is to establish and maintain a robust 1st Line of Defence control environment and culture to minimize operational risk arising from misuse of models within the business.
- Responsibilities include facilitation, coordination and execution of controls and 1st line governance, designing new controls, delivering business analytics and reporting, monitoring and analysing key risk and control indicators.
- The Markets Model Risk Control is looking for a highly energized and experienced SME with a good knowledge of Front Office models.
- The successful candidate will be involved in executing and automating (where appropriate) controls related to identification of model inventory at a legal entity level and implementation of Front Office pricing model changes.
- Participation in other wider inititaives from model risk control perspective is also expected, e.g., MCA Transformation and enhancement of Data Quality controls. This role will require senior level engagement with the business, Risk and Technology.
- The supplier will provide an SME resource with a strong background and experience in running and designing key Model Risk controls and governance.
Key Responsibilities
- Conducting a thorough analysis of Markets wide model inventory and activities/processes to identify models used in the in-scope legal entities
- Liaising with Markets model sponsors to gauge model usage where appropriate
- Providing legal-entity specific model inventory to 1LoD Legal Entity Model Officers (LEMOs) for review and challenge
- Assist with developing centralized controls and monitoring processes to ensure compliance with the Model Risk Management policy for Markets models
- Collaborate with relevant stakeholders including MQA, Technology, market risk and Model Risk Management
- Assist with enhancing current model risk control governance and challenging current practices which are not fully aligned with the firm's standards
- Further support programs and activity as required by the hiring manager
