Is the Analyst Model Risk Validation position at Absa Group fully remote?

Yes, this Analyst Model Risk Validation position at Absa Group is a remote position. The role is available for candidates in South Africa.

Is this a full-time or part-time Analyst Model Risk Validation role?

This is a full-time Analyst Model Risk Validation position at Absa Group.

What are the main requirements for the Analyst Model Risk Validation role?

Key requirements include: Perform and review model validations in accordance with the model risk policy, Conduct validations on a diverse range of AGL models, Produce validation reports, and more.

What benefits does Absa Group offer for this position?

Absa Group offers the following benefits: Health Insurance, Dental Insurance, Disability Insurance, Employee Assistance Program, Flexible Hours.

How do I apply for the Analyst Model Risk Validation position at Absa Group?

You can apply for this Analyst Model Risk Validation position by clicking the "Apply Now" button on this page, which will take you to Absa Group's application portal.

Analyst Model Risk Validation at Absa Group

South Africa

<h3>Empowering Africa’s tomorrow, together…one story at a time.</h3>With over 100 years of rich history and strongly positioned as a local bank with regional and international expertise, a career with our family offers the opportunity to be part of this exciting growth journey, to reset our future and shape our destiny as a proudly African group.Job SummaryAs an Analyst within the team, the expectation will be to perform and review model validations in accordance with the model risk policy, take on a team/project lead role and be accountable for the delivery of work by junior members of the team. Within validation the incumbent will conduct validations on a diverse range of AGL models, produce validation reports, negotiate the findings & actions with internal and external stakeholders and influence the continuous improvement of model quality & use. These areas make use of a wide range of models (Regulatory Capital, Economic Capital, impairments, pricing, behavioural, application, stress-testing, valuation, derivatives, insurance risk, etc.) and cover products used across all of AGLs business units. This role is ideal for a candidate that wants to develop multi-dimensional skillset, is looking for a role that provides great visibility within the firm and wants to be in a position that will promote big-picture strategic thinking.Job DescriptionAccountability: Model validation/monitoring (75%)· Execute validation/monitoring of models assigned to you by following each step in accordance to the IVU process. Specifically, ensure that all information required for the validation/monitoring is available on time, as received from Model Owner (MO) and/or Model Development (MD).· Ensure submission and completion milestones have been communicated to relevant stakeholders for the models assigned to you.· Complete assigned models on time according to the IVU planning schedule.· Use agreed templates and tools.· Validate/monitor models in accordance to internal and external requirements (e.g. as set out in the Group Model Risk Policy - GMRP and associated standards, Basel regulations, Prudential Authority - PA regulations long-forms, IFRS9, etc.).· Produce a report requiring minimum corrections as part of senior analyst / management review.· Document model recommendations/findings and relevance thereof to model use. Agree resolution actions and resolution timelines with affected counterparties and document these in the report.· Ensure that all findings that are resolved are evidenced and that you have checked and recorded as such. Accountability: Management of Stakeholder Relationships (10%)· Develop a professional relationship with all stakeholders. These include, but are not limited to, model owners, model developers, and audit.· Good communication of model findings to all stakeholders.· Either address (where able and competent) or escalate material concerns or bottlenecks to line manager (or relevant stakeholder) as early as possible to enable actions to be taken pre-emptively.· On an ongoing basis, interact with internal stakeholders (e.g. model developers, IVU colleagues, model owners, model implementation, business representatives, etc.) to ensure common understanding of findings and concepts. Accountability: Development of Technical and Product Knowledge (15%)· Develop own technical knowledge, regulatory/policy knowledge and softer skills independently from scheduled team training.· Exposure to diverse range of models across different business areas.· Identify and escalate any conceptual or big picture risks (incl. changes to the regulatory landscape) in respect of IVU and AGL.· Strive to receive regular 360 feedback to facilitate sight of blind spots and develop oneself.· Attend and actively participate in citizenship/training events.· Ensure simple administrative issues are addressed adequately and within agreed timelines - such as performance review process, completion of assigned training etc.EducationBachelor`s Degrees and Advanced Diplomas: Physical, Mathematical, Computer and Life Sciences (Required)Absa Bank Limited is an equal opportunity, affirmative action employer. In compliance with the Employment Equity Act 55 of 1998, preference will be given to suitable candidates from designated groups whose appointments will contribute towards achievement of equitable demographic representation of our workforce profile and add to the diversity of the Bank.Absa Bank Limited reserves the right not to make an appointment to the post as advertised

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Analyst Model Risk Validation

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Analyst Model Risk Validation

Absa Group

Full Time

$80,000 - $120,000*

4 months ago

South Africa

Model Risk Management & Validation

Senior

Model Validation

Risk Management

Data Analysis

+2 more

Job Description

Empowering Africa’s tomorrow, together…one story at a time.

With over 100 years of rich history and strongly positioned as a local bank with regional and international expertise, a career with our family offers the opportunity to be part of this exciting growth journey, to reset our future and shape our destiny as a proudly African group.

Job Summary

As an Analyst within the team, the expectation will be to perform and review model validations in accordance with the model risk policy, take on a team/project lead role and be accountable for the delivery of work by junior members of the team.

Within validation the incumbent will conduct validations on a diverse range of AGL models, produce validation reports, negotiate the findings & actions with internal and external stakeholders and influence the continuous improvement of model quality & use. These areas make use of a wide range of models (Regulatory Capital, Economic Capital, impairments, pricing, behavioural, application, stress-testing, valuation, derivatives, insurance risk, etc.) and cover products used across all of AGLs business units.

This role is ideal for a candidate that wants to develop multi-dimensional skillset, is looking for a role that provides great visibility within the firm and wants to be in a position that will promote big-picture strategic thinking.

Job Description

Accountability: Model validation/monitoring (75%)

· Execute validation/monitoring of models assigned to you by following each step in accordance to the IVU process. Specifically, ensure that all information required for the validation/monitoring is available on time, as received from Model Owner (MO) and/or Model Development (MD).

· Ensure submission and completion milestones have been communicated to relevant stakeholders for the models assigned to you.

· Complete assigned models on time according to the IVU planning schedule.

· Use agreed templates and tools.

· Validate/monitor models in accordance to internal and external requirements (e.g. as set out in the Group Model Risk Policy - GMRP and associated standards, Basel regulations, Prudential Authority - PA regulations long-forms, IFRS9, etc.).

· Produce a report requiring minimum corrections as part of senior analyst / management review.

· Document model recommendations/findings and relevance thereof to model use. Agree resolution actions and resolution timelines with affected counterparties and document these in the report.

· Ensure that all findings that are resolved are evidenced and that you have checked and recorded as such.

Accountability: Management of Stakeholder Relationships (10%)

· Develop a professional relationship with all stakeholders. These include, but are not limited to, model owners, model developers, and audit.

· Good communication of model findings to all stakeholders.

· Either address (where able and competent) or escalate material concerns or bottlenecks to line manager (or relevant stakeholder) as early as possible to enable actions to be taken pre-emptively.

· On an ongoing basis, interact with internal stakeholders (e.g. model developers, IVU colleagues, model owners, model implementation, business representatives, etc.) to ensure common understanding of findings and concepts.

Accountability: Development of Technical and Product Knowledge (15%)

· Develop own technical knowledge, regulatory/policy knowledge and softer skills independently from scheduled team training.

· Exposure to diverse range of models across different business areas.

· Identify and escalate any conceptual or big picture risks (incl. changes to the regulatory landscape) in respect of IVU and AGL.

· Strive to receive regular 360 feedback to facilitate sight of blind spots and develop oneself.

· Attend and actively participate in citizenship/training events.

· Ensure simple administrative issues are addressed adequately and within agreed timelines - such as performance review process, completion of assigned training etc.

Education

Bachelor`s Degrees and Advanced Diplomas: Physical, Mathematical, Computer and Life Sciences (Required)

Absa Bank Limited is an equal opportunity, affirmative action employer. In compliance with the Employment Equity Act 55 of 1998, preference will be given to suitable candidates from designated groups whose appointments will contribute towards achievement of equitable demographic representation of our workforce profile and add to the diversity of the Bank.

Absa Bank Limited reserves the right not to make an appointment to the post as advertised

Requirements

Perform and review model validations in accordance with the model risk policy
Conduct validations on a diverse range of AGL models
Produce validation reports
Negotiate the findings & actions with internal and external stakeholders
Influence the continuous improvement of model quality & use

Benefits

Health Insurance
Dental Insurance
Disability Insurance
Employee Assistance Program
Flexible Hours

Skills

Model Validation Risk Management Data Analysis Model Risk Policy Report Writing