Model jobs in United States

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Job Introduction

The UK Risk department is responsible for risk control within Handelsbanken plc ensuring there is a comprehensive and objective view of all risks in the Bank's business operations, providing independent management assurance to the UK CEO that the business is identifying and managing its risks adequately.

The Model Risk Management (MRM) team are responsible for the design and maintenance of the Bank's Model Risk Management policy and framework, ensuring comprehensive model governance and carrying out model validations and reviews across all the Banks models.

This particular role includes the independent review and validation of regulatory and non-regulatory models and ensuring that efficient model risk management (governance, model inventory management, recommendations, and action plans, among other responsibilities) is being applied in line with the MRM principles outlined in SS1/23.

Collaborate with the quantitative risk team on the yearly ICAAP, stress test framework and stress test execution across ICAAP, ILAAP and RRP, model support, quantitative risk analytics across all risk classes and IRB implementation.

The role is involved in the definition, execution, and update of the different aspects of the model risk management function. This includes enhancing the necessary frameworks and policies. The MRM Senior Analyst will execute the validation of models ensuring that the defined process is followed from an end-to-end perspective.

Main Responsibilities

• Operates in line with the Bank's Risk Management Framework (including sub-frameworks) and relevant risk and compliance policies and procedures, ensuring appropriate and timely escalation of any concerns to their line manager;
• Perform independent model validations (or annual model reviews) across a variety of models held in the Banks model inventory. These include stochastic models (IRB and non-IRB) and non-models (also known as deterministic quantitative methods);
• Carry out model validation of models used for other regulatory purposes such as ICAAP and ILAAP;
• Continue to embed the Model Risk Management Framework, including model identification process, attestation, validation, and monitoring. This also includes identifying further areas of non-compliance to SS1/23;
• Participate in the identification and assessment of the Bank's key model risks. Ensure model risks with the Bank are effectively identified, measured, monitored and controlled, consistent with the Bank's risk appetite statement and all policies and processes;
• Assist in ensuring that MRM policies, frameworks and instructions are kept up to date and reviewed periodically by relevant governance committees;
• Present validation and review work performed at the monthly Model Oversight Committee (MOC);
• Report on model risk related matters to the Head of MRM management and participate in discussions with relevant stakeholders (such as model developers, model owners, users, etc.);
• Keep up to date and act upon regulatory developments and industry best practice in areas related to model risk;
• Communicate the results of model validation activities, model limitations and uncertainties to the key stakeholders and management.

Ideal Candidate

• Relevant experience working in financial services, including hands-on experience with IRB model validations and preferably also a good understanding of model development;
• Solid understanding of the IRB regulation (CRR, EBA, PRA) as well as regulatory guidelines and is familiar with industry best practices for model risk management (SR11-7, SS 1/23, SS 3/18) and model validation across a wide range of model types and methodologies;
• Have a strong analytical background and numerical skills; Educated in statistics, mathematics, data science or engineering would be desirable;
• Hands-on experience from one or more statistical data programmes such as SAS, Python, SQL, R;
• Be proactive and able to act on their own initiative with excellent communication skills;
• Have excellent attention to detail and a very organised, yet flexible, manner;

Company Information

Handelsbanken is a relationship bank with a decentralised way of working, a strong local presence thanks to a nationwide network of branches, and a long-term approach to customer relations. Each Handelsbanken branch operates as a local business enabling it to make decisions at a local level and provide a bespoke service. The focus is always on the need of the individual customer and not on the sale of specific products.

The Bank is deeply committed to embedding good equality and diversity practice into all of our activities. This is so that we are an inclusive, welcoming and inspiring place to work that encourages everyone to apply, regardless of socio-economic background, age, disability, pregnancy and/or parental status, race (including colour, nationality, and ethnic or national origin), veteran status, marital and civil partnership status, religion or belief, sex, gender reassignment or sexual orientation.

Check our Handelsbanken website for further information.

At Handelsbanken, we deeply value our unique culture and values including trust in and respect for each individual. We take pride in nurturing a work environment where people flourish, and where they are empowered to take decisions in their areas of expertise. We take a long-term perspective in everything we do and want each employee who joins us to build a long-term successful career with the Bank.

What is in it for you?

• We have a wide range of learning and development available, empowering and enabling our colleagues to take ownership of their own development.
• Competitive Salary and an extensive range of benefits is provided, including private medical insurance, income protection and life assurance.
• A market-leading pension contribution of 15% paid by the bank, which can be invested in a wide range of funds (including ESG and Shariah funds).

Application next steps

Your journey with us begins once you have submitted your application. One of our Handelsbanken recruiters will be reviewing your details and will later organise a phone conversation if you match the role requirements. If there is a mutual fit, we will extend an invitation for you to participate in an interview.

How can we support you to be your best self? Our Talent Acquisition team will be happy to provide support e.g. if you need additional time to prepare for an interview or you have any requirements for any part of the interview/hiring process - just let us know by email uk_talent@careers.handelsbanken.co.uk.

This advert will be live for a minimum of two weeks. However, please note that after the two weeks, the closing date could change at any time depending on the number of responses received.

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