Senior Model Risk Specialist
FirstRand
Date: 15 hours ago
City: Johannesburg, Gauteng
Contract type: Full time

Job Description
To plan, build, optimise and implement innovative quantitative analytical methodologies, procedures, products and advanced
mathematical models that provide analytical support and interpret insights, using advanced analytics technologies, to address business opportunities and problems and implement business strategy Hello future Senior Model Risk Specialist! FirstRand believes that its people are its single most important resource and will not operate in a sector unless it has people who are right for that market and who share FirstRand’s business values. We recruit self-starters who have a passion for what they do. We empower them, hold them accountable and reward them appropriately. We value diversity in our people, particularly for the way that this contributes to innovative thinking. If you think you will flourish in our environment, and you believe you have the necessary skills and competencies for the position advertised, then we are looking for you! Role Purpose: Exciting new opportunity in Enterprise Risk Management to join the model risk team. Have a good understanding of models from different risk types and be able to perform tasks that include model independent validation, reporting, presenting at governance committees, shaping of frameworks, researching methodologies, etc, that contribute to the management of model risk Are you someone who can do: Model independent validation and model risk management
mathematical models that provide analytical support and interpret insights, using advanced analytics technologies, to address business opportunities and problems and implement business strategy Hello future Senior Model Risk Specialist! FirstRand believes that its people are its single most important resource and will not operate in a sector unless it has people who are right for that market and who share FirstRand’s business values. We recruit self-starters who have a passion for what they do. We empower them, hold them accountable and reward them appropriately. We value diversity in our people, particularly for the way that this contributes to innovative thinking. If you think you will flourish in our environment, and you believe you have the necessary skills and competencies for the position advertised, then we are looking for you! Role Purpose: Exciting new opportunity in Enterprise Risk Management to join the model risk team. Have a good understanding of models from different risk types and be able to perform tasks that include model independent validation, reporting, presenting at governance committees, shaping of frameworks, researching methodologies, etc, that contribute to the management of model risk Are you someone who can do: Model independent validation and model risk management
- Review and/or reperform model building process.
- Document and communicate independent validation findings, corrective actions and advise on model appropriateness
- Apply risk proportionate approach to different model validations.
- Assess the adequacy and/or best practice in strategy, frameworks, policies and business process alignment to modelling practice.
- Present to designated validations committee independent validation outcomes and corrective actions.
- Communicate effectively and maintain a good relationship with key stakeholders.
- Optimise processes through continuous updates to frameworks and governance design.
- Bachelor’s degree (Honours preferrable) in one of the following disciplines: Statistics, Mathematics, Quantitative Risk Management, Engineering, Actuarial science, Data science or similar.
- 7 – 10 + years of financial modelling, risk modelling and/or model validation experience within a banking context.
- Proficiency in programming languages that can include SAS, SQL, Excel, Python and R.
- Experience with the following model types/usage advantageous:
- Scorecard models
- Financial Crime
- Group Treasury
- Credit risk regulatory capital and provisioning models
- Pricing
- Insurance
- Advanced Analytics
- Experience in model building will be a bonus
- Challenging work in a complex and exciting environment
- Opportunities to innovate and create efficiencies.
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