Our leading banking client is looking for a model owner in risk and compliance to come in on a 3 month contract, with a view to extend beyond this.

As a Model Owner - Manager in the Risk & Compliance function, this role has responsibility for the on-going management and control of models in the Risk model suite. With SS1/23 in full swing, this role is critical to the culture transformation around model management, and role holders will demonstrate 'best practice' for model ownership behaviours.

§ Models under management in the Risk area include those for Capital, Provision and Stress testing, Scoring & Rating, and Market & Structural Risk, and others. A strong understanding of these models gained from development or validation experience, or as model users, along with knowledge of model governance and frameworks is required.

§ The role supports the model agenda for the Risk area and supports the wider model strategy of the Bank by:
o Engaging with stakeholders and model users to understand the purpose and requirements of a model, its expected performance and any remediation actions that may need to be taken;

o Managing the model life cycle, working with various teams on the planning, development, review, approval, implementation, use and assurance of models used across Risk;

o Maintaining robust management, monitoring and first line control and governance of models owned in Risk, in line with the expectations of the Bank and wider Santander Group;

o Executing the required governance for model approvals, including preparing and presenting at Model committees;

o Continuously embedding the SS1/23 principles within the Model Lifecycle;

o Supporting delivery of SS1/23 compliance across all models owned in Risk;

o Undertaking Annual attestations for Risk Models;

o Maintaining internal and external stakeholder communication;
o Managing operational risk in regards to models under management.

Financial Dimension

§ Ensures models are fit for purpose, providing the best possible decisions/outcomes, for our customers and shareholders. This can be very large for more material models.

§ Helps to minimise the levels of add-ons required as a result of model weaknesses, by identifying remedial actions.

§ Ensures that Model risks are highlighted effectively such that they can be remedied prior to any regulatory or audit penalty being imposed.

Non-Financial Dimension

§ Develops good quality relations with stakeholders across the bank.

§ Adapts quickly to change and adjusts the type of support provided across ad-hoc requests spanning the relevant Risk & Compliance model suite, providing effective support to all levels of the business.

§ Identifying and escalating issues impacting models in a proactive and responsive manner.

§ This role reports to the Head of Model Ownership, Controls, Governance and Monitoring and while it sits in the 2nd line, it is a 1st line Model Owner role.

Key Accountabilities

Role Specific:

Management of the Model Lifecycle from gathering requirements, planning, remediating issues, monitoring performance and controls.

Model Management System Upkeep as per Policy Requirements

Continuously embed the SS1/23 principles within the Model Lifecycle

Deliver and Maintain SS1/23 compliance across all models Owned in Risk

Annual attestations (SS3/18, SS1/23, CRR, Internal etc.) for Risk Models.

Maintain internal and external stakeholder communication.

Execute the required governance of model approvals.

Grade Specific:

Managing Risk & Applying

Control

§ Identify, assess, manage and report risks taking action where appropriate in order to remediate or escalate potential issues.

§ Promote risk awareness across the team and demonstrates best practice for model management.

§ Identify ways to continually improve risk management tools, techniques and strategies.

Carbon60, Lorien & SRG - The Impellam Group STEM Portfolio are acting as an Employment Business in relation to this vacancy.