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A Leading Commercial Bank in Kenya
Banking + 2 more
Senior Manager- Model Risk Management & Validation
Closed for applicationsOnly on Fuzu
Description
Our client, a fast-growing bank in Kenya that operates on ethical, interest-free banking principles and is part of a major global financial group, is seeking to hire a Senior Manager- Model Risk Management & Validation within their Risk Management Department. Reporting to the Head of Risk, this role is based in Nairobi and sits within a dynamic team supporting the bank’s strategic objectives
Job Purpose
(Brief summary of why the job exists)
Development and implementation of Model Risk Management governance and the validation of credit risk, market risk, liquidity, finance and business models at the Bank in line with internal policies and regulatory requirements.
Responsible to conduct robust and comprehensive qualitative and quantitative validation of IFRS 9, PD Ratings/Scorecards, Stress Testing, statistical and deterministic models used in ICAAP/Pilar Il and Market and Liquidity Risk models, as well as finance and other business models, in line with the Bank Model Validation Guidelines and the Model Governance Framework and ensuring compliance with regulatory requirements
Perform data due diligence and data preparation required for the validation of models
Ensure models are validated within the pre-defined validation frequency. Discuss validation results and validation findings with the different stakeholders, reach agreements on the remediation process and keep track of the timeliness and progress of such actions
Ensure accuracy and completeness of archived validation information (data, codes, working files and related documentation) to allow independent third-party review of the validation work performed
Provide technical review of the quantitative solutions proposed by the model developer to the model owners in a timely manner
Coordinate with other quantitative analysts within the Bank to ensure that models and solutions are consistent and in-line with the Bank practices
Support on the development and maintenance of the Model Risk Management framework covering the Model Governance Framework and related policies, including risk appetite, tiering and other risk policies and other processes regarding models, in line with applicable regulations and industry best practices
Support on the development and maintenance of the Model Validation Guidelines
Ensure that strict governance is followed for adoption and ongoing use of models across the bank — including compliance with the approved policies, procedures, SLAS and regulatory requirements
Ensure that exceptions, if any, to the process are escalated promptly
Develop and maintain a Model Inventory and ensure the inventory is complete, accurate, and consistent with the Model Governance Framework
Develop and maintain the Validation Findings Tracker, covering model related findings coming from internal/external model validation, internal/external audit exercises and from the regulator
Train, develop and upgrade technical skills by identifying self-learning needs to stay up to date with the best market practices
All the above accountabilities include but are not limited to any additional/new tasks or responsibilities assigned by the line Manager.
Dimensions / Context (scope of the job – responsibility for managing)
Development and implementation of Model Risk Management governance
Validation of credit risk, market risk, liquidity, finance and business models at the Bank in line with internal policies and regulatory requirements
Job Complexity/Judgment
Ability to come up with solutions to solve data related problems
Ability to develop and validate models for complex products
Ability to come up with methodology to determine identification of risk issues
Ability to come up with methodology to assess various risk dimensions
Ability to provide framework and policy guidelines to do qualitative assessment of risks
Ability to communicate with senior management
Ability to maintain effective communication with all internal and external stakeholders
Key Relationship (Internal & External)
Internal: All functions of the bank
External: Central Bank and other regulatory agencies, Systems / Application vendors
Job Specification
Education
Minimum bachelor's degree (preferred master’s degree) in a quantitative field e.g. engineering, statistics, econometrics is required. FRM/CFA will be a plus.
Training/ Skills
Analytical Ability - Advanced
Conduct Risk Management - Advanced
Credit Risk Management - Advanced
Liquidity Risk - Advanced
Market Risk Management - Advanced
Reputational Risk Management - Advanced
Risk Policy design and development - Advanced
Enterprise Risk Assessment (EWRA) - Intermediate
Governance and Risk Quality Assurance Management - Intermediate Operational Risk Management - Expert
Work Experience
Minimum of 6-8 years of relevant work experience in risk model development/ model validation in the Banking industry. Expertise in model development and automation.
Competencies
Think & Act Customer - Guiding
Business & Strategic Acumen - Guiding
Ownership & Accountability - Guiding
Change & Innovation Agility - Guiding
Plan & Execute to Excel - Guiding
Digital Mindset - Guiding
Develop Self & Nurture Teams - Guiding
Forster Synergy - Guiding
Interpersonal Effectiveness - Guiding
Organization Reporting Relationship
Reporting to: Head of Risk Management
Subordinates: None
Other positions in the same unit: None
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