Embark on a transformative journey as a Non-Traded Models IVU-VP at Barclays, where you'll spearhead the evolution of our digital landscape, driving innovation and excellence. You'll harness cutting-edge technology to revolutionize our digital offerings, ensuring unapparelled customer experiences.
Model Risk Management (MRM) is a function reporting directly to the Group Chief Risk Officer and responsible for the identification, assessment, monitoring and management of Model risk within Barclays. Independent Validation Unit (IVU) is one of the key areas under MRM. As a second line defence function, IVU approves or rejects models following a technical review thereby ensuring transparency and effective management of risk associated with any model in which Barclays relies upon for financial or non-financial decisions. The IVU Team has responsibility for the Independent Validation of various model types (e.g. capital, impairment, underwriting, behaviour, collection & recovery, existing customer management (ECM), fraud, stress testing models etc.). It provides assurances to the senior managers including the individual Business Chief Risk Officers and the Group CRO and Finance Director (through the Executive Models Committee) on the key aspects associated with risk models.
To be successful in this role as a Non-Traded Models IVU-VP , you should possess the following skillsets:
- Validate credit risk related regulatory (IRB, IFRS9, CCAR and Stress Testing) models for wholesale portfolios by following Bank’s policies and standards.
- Perform technical analysis and/or build alternative benchmarks to new and existing models, in line with the requirements set out in the bank’s standards and policies.
- Work as an Individual Contributor and also Mentor a team of 2-3 analysts Review regulatory requirements to ensure compliance with different regulatory guidelines e.g. SR 11-7, PRA, FRB, SS-1/23.
- Support the development and review conformance with appropriate policies including Group Model Risk policy.
- Solid understanding of the quantitative techniques used in developing and validating models including credit risk related regulatory (IRB, IFRS9, CCAR, Stress-testing, PD, EAD, LGD) models for wholesale portfolios.
- Hands-on experience in the use of statistical packages such as Python, SAS, R. Expert user of Microsoft Excel and other Microsoft Office tools.
- An ability to identify and analyse appropriate external data sources including macro-economic variables for model development or validation along with excellent communication and stakeholder management skills.
Some other highly valued skills include:
- Masters in Statistics, Mathematics, Economics, Operational Research, Engineering, MBA
- Relevant experience in a modeller/validator role in the financial services industry.
- Excellent communication and stakeholder management skills.
You may be assessed on the key critical skills relevant for success in role, such as risk and controls, change and transformation, business acumen strategic thinking and digital and technology, as well as job-specific technical skills.
This role is based in our Noida and Mumbai office.
Purpose of the role
To validate and approve models for specific usages both at inception and on a periodic basis, and of model changes, as well as conducting annual reviews.
Accountabilities
- Validation of models for their intended use and scope, commensurate with the complexity and materiality of the models.
- Approval or rejection of a model or usage based on assessment of the model’s conceptual soundness, performance under intended use and the clarity of the documentation of the model’s inherent risks, limitations and weaknesses.
- Assessment of any compensating controls used to mitigate Model risk.
- Documentation of validation findings and recommendations in clear and concise reports, providing actionable insights for model improvement.
- Evaluation of the coherence of model interactions and quality of Large Model Framework aggregate results that generate output for regulatory submissions or management decision making and planning.
- Design of the framework and methodology to measure and, where possible, quantify model risk, including the assessment of framework level uncertainty.
Vice President Expectations
- To contribute or set strategy, drive requirements and make recommendations for change. Plan resources, budgets, and policies; manage and maintain policies/ processes; deliver continuous improvements and escalate breaches of policies/procedures..
- If managing a team, they define jobs and responsibilities, planning for the department’s future needs and operations, counselling employees on performance and contributing to employee pay decisions/changes. They may also lead a number of specialists to influence the operations of a department, in alignment with strategic as well as tactical priorities, while balancing short and long term goals and ensuring that budgets and schedules meet corporate requirements..
- If the position has leadership responsibilities, People Leaders are expected to demonstrate a clear set of leadership behaviours to create an environment for colleagues to thrive and deliver to a consistently excellent standard. The four LEAD behaviours are: L – Listen and be authentic, E – Energise and inspire, A – Align across the enterprise, D – Develop others..
- OR for an individual contributor, they will be a subject matter expert within own discipline and will guide technical direction. They will lead collaborative, multi-year assignments and guide team members through structured assignments, identify the need for the inclusion of other areas of specialisation to complete assignments. They will train, guide and coach less experienced specialists and provide information affecting long term profits, organisational risks and strategic decisions..
- Advise key stakeholders, including functional leadership teams and senior management on functional and cross functional areas of impact and alignment.
- Manage and mitigate risks through assessment, in support of the control and governance agenda.
- Demonstrate leadership and accountability for managing risk and strengthening controls in relation to the work your team does.
- Demonstrate comprehensive understanding of the organisation functions to contribute to achieving the goals of the business.
- Collaborate with other areas of work, for business aligned support areas to keep up to speed with business activity and the business strategies.
- Create solutions based on sophisticated analytical thought comparing and selecting complex alternatives. In-depth analysis with interpretative thinking will be required to define problems and develop innovative solutions.
- Adopt and include the outcomes of extensive research in problem solving processes.
- Seek out, build and maintain trusting relationships and partnerships with internal and external stakeholders in order to accomplish key business objectives, using influencing and negotiating skills to achieve outcomes.
All colleagues will be expected to demonstrate the Barclays Values of Respect, Integrity, Service, Excellence and Stewardship – our moral compass, helping us do what we believe is right. They will also be expected to demonstrate the Barclays Mindset – to Empower, Challenge and Drive – the operating manual for how we behave.
