IMV Assurance Manager

Our Team

The Independent Model Validation (IMV) team is responsible for providing ongoing, independent, and effective challenge to model development and use to ensure models are, and remain, suitable for their intended purpose. IMV has also been tasked with providing risk assurance on model risk controls, namely the processes and procedures to help manage, control or mitigate model risk across all stages of a model’s lifecycle.

What you’ll be doing

• Develop and deliver a relevant, dynamic, high quality and value-adding assurance plan by focusing on areas of interest across the model lifecycle. 
• Coordinate the monitoring and reporting on delivery of the annual risk assurance plan, produce high quality and informative reports, escalate any concerns in relation to delivery as appropriate.
• Communicate outcomes of risk assurance activities, inputting high quality insight and reporting at all levels, including relevant senior committees (e.g. Executive/ Board Risk Committee)
• Proactively analyse themes and trends from completed reviews, making recommendations for enhancements, and identify control weaknesses through Ongoing Assurance activity.
• Build and manage strong, effective relationships with key stakeholders at all levels across the group, particularly Model Risk and Analytics teams, Internal Audit, Operational Risk, Compliance, Enterprise Systems and the wider Risk function, and engage those stakeholders on assurance delivery, risk management and the control environment.
• Undertake all people leader responsibilities including conducting Quarterly check-ins, setting and monitoring progress against team and personal goals, identify and address any instances of non-compliance or performance that is not in line with expected quality and standards.
• Maintain awareness of industry best practice developments and technical developments (where appropriate) that influence the regulatory and control-related operating environment.

We need you to have

• A university degree (undergraduate or postgraduate) in Finance, Risk Management, Accounting, Forensic Sciences, preferably with a relevant professional qualification in risk management or audit, or equivalent demonstrable experience.
• Comprehensive knowledge of model risk management, the model lifecycle and the key risks and associated controls across all stages of models.
• Proven substantial experience of working in a compliance, model risk or audit function (with a model specialisation preferably), or first line assurance function.
• Substantial experience of delivering reviews to sometimes challenging timescales with agreed resources to a high standard of writing.
• Track record of building relationships with a variety of stakeholders including those outside of direct area of influence and influencing at a senior management level.
• Demonstratable experience of delivering a high standard of written and verbal communications.

It’s a bonus if you have but not essential

• Detailed knowledge of either model development, validation, implementation or monitoring across different model types (e.g. IRB, IFRS 9, pricing, AI/ML, climate change).
• Knowledge of the UK’s regulatory landscape regarding model risk and its management.
• Broad knowledge of risk management disciplines and the three lines of defence model. 

Red Hot Rewards

• Generous holidays - 38.5 days annual leave (including bank holidays and prorated if part-time) plus the option to buy more.
• Up to five extra paid well-being days per year
• 20 weeks paid, gender-neutral family leave (52 weeks in total) for expectant parents and those looking to adopt. 
• Market-leading pension.
• Free private medical cover, income protection and life assurance.
• Flexible benefits include Cycle to Work, wellness and health assessments, and critical illness. 

Business Unit: Independent Model Validation

Salary range: circa £70,000 per annum DOE + red-hot benefits

Location: UK Remote (the IMV team tries to get together twice a year at different VM Hubs)

Contract type: Permanent