IMV Assurance Senior Specialist

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

• Executing and coordinating a, dynamic, high quality and value-adding assurance plan by focusing on areas of interest across the model lifecycle. 
• Undertaking a variety of assurance activities designed to assess the effectiveness of controls against the bank’s model risk appetite to agreed quality requirements and timescales.
• Producing the monitoring and reporting of the annual risk assurance plan, author high quality and informative reports, and escalate any concerns accordingly
• Communicating outcomes of risk assurance activities, providing high quality insight and reporting at all levels, including relevant senior committees (e.g. Executive/ Board Risk Committee)
• Conduct independent testing on control design and managing effectiveness for all components of model risk throughout the model lifecycle. Developing and maintaining strong, effective relationships with key stakeholders and engaging those stakeholders on assurance delivery, risk management and the control environment. Including Model Risk and Analytics teams, Internal Audit, Operational Risk, Compliance, and the wider Risk function.
• Working in an agile manner, striving for new ways of realising an outcome, not being tied to existing processes.

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.
• Knowledge of model risk management, the model lifecycle key risks and associated controls across all stages of models.
• Experience of working in a compliance, model risk or audit function (with a model specialisation preferably), or first line assurance function.
• Significant experience of delivering reviews to challenging timescales.
• Demonstrable skills in collaborating and networking across business areas.
• Proven ability to deliver a high standard of written and verbal communications.

It’s a bonus if you have but not essential

• 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 £55,000 per annum DOE + red-hot benefits

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

Contract type: Permanent