Analyst Model Monitoring
Absa Group
Date: 3 weeks ago
City: Johannesburg, Gauteng
Contract type: Full time
Empowering Africa’s tomorrow, together…one story at a time.
With over 100 years of rich history and strongly positioned as a local bank with regional and international expertise, a career with our family offers the opportunity to be part of this exciting growth journey, to reset our future and shape our destiny as a proudly African group.
Job Summary
As a Analyst within the team, the expectation will be to perform model monitoring in accordance with the model risk policy, take on a team/project lead role and be accountable for the delivery of work by junior members of the team.
Within monitoring the incumbent will conduct model performance monitoring on a wide range of AGL models (Regulatory Capital, Impairments, Behavioural scorecards, and Application scorecards) and cover products used across the Retail business units, produce monitoring reports and engage with internal and external stakeholders on the output thereof. Work closely with the validation teams, as the monitoring analyses constitute critical inputs into the periodic validation process.
This role is ideal for a candidate that wants to develop multi-dimensional skillset, is looking for a role that provides great visibility within the firm and wants to be in a position that will promote big-picture strategic thinking.
Job Description
Accountability: Model monitoring (75%)
Bachelor Honours Degree: Business, Commerce and Management Studies (Required)
Absa Bank Limited is an equal opportunity, affirmative action employer. In compliance with the Employment Equity Act 55 of 1998, preference will be given to suitable candidates from designated groups whose appointments will contribute towards achievement of equitable demographic representation of our workforce profile and add to the diversity of the Bank.
Absa Bank Limited reserves the right not to make an appointment to the post as advertised
With over 100 years of rich history and strongly positioned as a local bank with regional and international expertise, a career with our family offers the opportunity to be part of this exciting growth journey, to reset our future and shape our destiny as a proudly African group.
Job Summary
As a Analyst within the team, the expectation will be to perform model monitoring in accordance with the model risk policy, take on a team/project lead role and be accountable for the delivery of work by junior members of the team.
Within monitoring the incumbent will conduct model performance monitoring on a wide range of AGL models (Regulatory Capital, Impairments, Behavioural scorecards, and Application scorecards) and cover products used across the Retail business units, produce monitoring reports and engage with internal and external stakeholders on the output thereof. Work closely with the validation teams, as the monitoring analyses constitute critical inputs into the periodic validation process.
This role is ideal for a candidate that wants to develop multi-dimensional skillset, is looking for a role that provides great visibility within the firm and wants to be in a position that will promote big-picture strategic thinking.
Job Description
Accountability: Model monitoring (75%)
- Execute monitoring of models assigned to you by following each step in accordance to the IVU process. Specifically, ensure that all information required for the monitoring is available on time, as received from Model Owner (MO) and/or Model Development (MD).
- Ensure submission and completion milestones have been communicated to relevant stakeholders for the models assigned to you.
- Monitor models in accordance to internal and external requirements (e.g. as set out in the Group Model Risk Policy - GMRP and associated standards, Basel regulations, Prudential Authority - PA regulations long-forms, IFRS9, etc.).
- Produce a report requiring minimum corrections as part of senior analyst / management review.
- Document model recommendations/findings and relevance thereof to model use. Agree resolution actions and resolution timelines with affected counterparties and document these in the report.
- Develop a professional relationship with all stakeholders. These include, but are not limited to, model owners, model developers, and audit.
- Good communication of model findings to all stakeholders.
- Either address (where able and competent) or escalate material concerns or bottlenecks to line manager (or relevant stakeholder) as early as possible to enable actions to be taken pre-emptively.
- On an ongoing basis, interact with internal stakeholders (e.g. model developers, IVU colleagues, model owners, model implementation, business representatives, etc.) to ensure common understanding of findings and concepts.
- Develop own technical knowledge, regulatory/policy knowledge and softer skills independently from scheduled team training.
- Exposure to diverse range of models across different business areas.
- Identify and escalate any conceptual or big picture risks (incl. changes to the regulatory landscape) in respect of IVU and AGL.
Bachelor Honours Degree: Business, Commerce and Management Studies (Required)
Absa Bank Limited is an equal opportunity, affirmative action employer. In compliance with the Employment Equity Act 55 of 1998, preference will be given to suitable candidates from designated groups whose appointments will contribute towards achievement of equitable demographic representation of our workforce profile and add to the diversity of the Bank.
Absa Bank Limited reserves the right not to make an appointment to the post as advertised
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