Asst. Manager, Model Validation

Job Description

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.

Analyst Expectations

• To perform prescribed activities in a timely manner and to a high standard consistently driving continuous improvement.
• Requires in-depth technical knowledge and experience in their assigned area of expertise
• Thorough understanding of the underlying principles and concepts within the area of expertise
• They lead and supervise a team, guiding and supporting professional development, allocating work requirements and coordinating team resources.
• 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 develop technical expertise in work area, acting as an advisor where appropriate.
• Will have an impact on the work of related teams within the area.
• Partner with other functions and business areas.
• Takes responsibility for end results of a team’s operational processing and activities.
• Escalate breaches of policies / procedure appropriately.
• Take responsibility for embedding new policies/ procedures adopted due to risk mitigation.
• Advise and influence decision making within own area of expertise.
• Take ownership for managing risk and strengthening controls in relation to the work you own or contribute to. Deliver your work and areas of responsibility in line with relevant rules, regulation and codes of conduct.
• Maintain and continually build an understanding of how own sub-function integrates with function, alongside knowledge of the organisations products, services and processes within the function.
• Demonstrate understanding of how areas coordinate and contribute to the achievement of the objectives of the organisation sub-function.
• Make evaluative judgements based on the analysis of factual information, paying attention to detail.
• Resolve problems by identifying and selecting solutions through the application of acquired technical experience and will be guided by precedents.
• Guide and persuade team members and communicate complex / sensitive information.
• Act as contact point for stakeholders outside of the immediate function, while building a network of contacts outside team and external to the organisation.

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.

Embark on a transformative journey as an Asst. Manager, Model Validation 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. Model risk is the potential for adverse consequences from decisions based on incorrect or misused model outputs. Models are defined broadly in the Group Model Risk Policy to encompass all methods, systems or approaches that apply statistical, economic financial or mathematical theories, techniques and assumptions to process inputs into quantitative outputs. MRM is currently responsible for approving in excess of 1800 models. The function covers both the independent validation of Barclays’ models and model governance and controls.

To be successful in this role as an Asst. Manager, Model Validation, you should possess the following skillsets:

• Experience as a modeller/validator in the retail or wholesale industry.
• Experience in Market Risk and Stress Test domains.
• Experience in Capital/Non-Traded Interest Rate Risk/Comprehensive Capital Analysis and Review (CCAR)/Finance.
• Strong analytical and problem-solving skills with experience in developing, validating and risk management of models.
• Coding experience in R/Python. Expert user of Microsoft Excel and other Microsoft Office tools.
• Sharp focus on gaps/issues identification and passionate about problem solving.
• Effective and Efficient stakeholder management.
• Good communication and influencing skills, ability to produce high quality written communication for technical and non-technical audiences.

Some other highly valued skills include:

• Good understanding of banking environment, retail, and wholesale portfolios. 
• Ability to work in a high performing team, and the ability to work and liaise with others in a diverse team.
• Role requires influencing skills and problem-solving abilities to overcome issues inherently arising during the validation process.

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 office.