Manager, Model Risk Oversight

  • Negotiable
  • Singapore Singapore Singapore SG
  • Permanent, Full time
  • Standard Chartered Bank Singapore
  • 21 May 18 2018-05-21

Oversight to model development, validation, implementation and monitoring activities for Market Risk, CCR and stress test models

Oversight to model development, validation, implementation and monitoring activities for Market Risk, CCR and stress test models

  • Monitor adherence to model process, standards and model risk policy
  • Review and challenge model performance monitoring and back testing results
  • Review and challenge post model adjustments
  • Update oversight risk register regularly with model performance and issues with adequate details
  • Prepare model oversight report for senior management and governance committees in a clear and concise manner
  • Prepare regulatory attestations for model applications and annual regulatory requirements
  • Ensure interim and strategic remediation actions are finalised
  • Track the progress of remedial actions and highlight delays or changes to senior management / committees proactively
  • Prepare ad-hoc analysis as and when required for emerging model risk identified through oversight process
  • Review and sign off all committee papers submission which addresses model performance and remediation status.

Model Inventory

  • Manage the model inventory, model documentation and associated meta-data (roles, permissions, taxonomies) Market Risk, CCR and stress test models

Regulatory Analysis

  • Manage and coordinate regulatory capital analysis, consultations, responses impacting risk models, policies and processes for the ERM function.

People and Talent

  • Employ, engage and retain high quality people
  • Define an organisation structure aligned and scaled to the risk control needs of the Group
  • Set and monitor job descriptions and objectives for direct reports and provide feedback and rewards in line with their performance against those responsibilities and objectives
  • Uphold and reinforce the independence of the Model Risk & Stress Testing Oversight team from those whose primary responsibility is to maximise short-term revenues and profits
  • Ensure the provision of ongoing training and development of the Model Risk & Stress Testing Oversight staff, and ensure that holders of all critical functions are suitably skilled and qualified for their roles
  • Lead through example and build the appropriate culture and values within the Model Risk & Stress Testing Oversight team and across the wider organisation

Key Stakeholders

  • Home and host regulators
  • Group Risk committee
  • Model Risk committee
  • Enterprise Risk Analytics
  • Stress Testing committee
  • Group Internal Audit
  • Finance, Group Treasury, Credit, MTCR and Business Users

Other Responsibilities

  • Embed Here for Good and Group's brand and values in Enterprise Risk Management function

Skills & Qualifications:

Market Knowledge: Strong understanding of the Banking industry, particularly Emerging Markets and the economy, Basel regulatory requirements and broad risk management themes that impact the Bank. Understanding of derivatives especially its application in risk management will be an added advantage.

Business Strategy and Model: Awareness and understanding of the firm's business strategy, risk models and their applications in relation to the strategic direction of the Bank. Clear understanding of ongoing model performance monitoring aspects and early warning of emerging model risk is a pre-requisite. While hands-on model development experience is not essential, it would be an advantage for providing insight and leading complex changes end-to-end.

Risk Management and Control: Strong problem solving and analytical skills with previous experience in portfolio analysis and familiarity with banking and capital markets products for identifying, assessing, monitoring, controlling and mitigating risks to the firm.

Governance, Oversight and Controls: Experience in designing and implementing risk policies and procedures. Ability to provide a balance between independence and supportive business engagement. Experience in providing assurance or oversight for market risk and stress test related area will be preferred.

Regulatory Framework and Requirements: Awareness and through understanding of the regulatory framework in which the firm operates including operational risk concepts.

Non-technical skills: Highly responsive with excellent communication and presentation skills, and the ability to explain complex matters in simple and intuitive terms to non-technical audiences both internally and externally

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