Model Risk Management-BA3

Overview

Validate and approve models for specific usages at inception, on a periodic basis, and on model changes, and conduct annual reviews within Model Risk Management at Barclays.

What you'll do

• Validate models for their intended use and scope, commensurate with the complexity and materiality of the models.
• Approve or reject a model or usage based on assessment of conceptual soundness, performance under intended use, and clarity of documentation of inherent risks, limitations and weaknesses.
• Assess any compensating controls used to mitigate model risk.
• Document validation findings and recommendations in clear and concise reports, providing actionable insights for model improvement.
• Evaluate the coherence of model interactions and the quality of Large Model Framework aggregate results that generate output for regulatory submissions or management decision making and planning.
• Design the framework and methodology to measure and, where possible, quantify model risk, including assessment of framework level uncertainty.
• Provide independent review (IR) and challenge of quantitative and qualitative processes categorized as models (from Capital, Artificial Intelligence & Machine Learning (AIML), Stress Testing, Treasury etc. framework) to a high degree of depth, as required by and detailed in the Bank's policies and standards.
• Provide input to and support governance and reporting processes related to Model Risk.
• Ensure all activities and duties are carried out in full compliance with regulatory requirements, the Enterprise-Wide Risk Management Framework and internal Barclays Policies and Policy Standards.

What you'll need

• Experience with model development and validation.
• Experience providing independent review and challenge of quantitative and qualitative processes categorized as models.
• Highly numerate, as demonstrated by an Honours degree, Masters or similar in a quantitative subject such as Mathematics, Physics, Operational Research, Economics, or Finance.
• Proficient knowledge of coding in Excel-VBA/R/SQL/C++/Python or equivalent language, including handling large datasets and writing functions.
• Good communication and influencing skills, with ability to produce high quality written communication for technical and non-technical audiences.
• Highly organised in terms of documentation and follow through.
• Experience in data understanding, handling and manipulation, data control and its importance.
• Awareness of reporting and data visualization tools.
• Ability to think strategically and to focus on the whole portfolio of MRM activities.

Nice to have

• Bachelor's in quantitative fields such as Mathematics, Physics, Operational Research, Finance, or Economics.
• Relevant experience in model validation, data analytics, banking and finance, Python, Qlik and Tableau.
• Ability to work in a high performing team and to work and liaise with others in a diverse team.
• Knowledge in financial projection and algorithm design beyond risk management.

Details

• Based in Noida.