Job Title – Model Validation Wholesale (IVU) - AVP
Location – London
Model Risk Management (MRM) is a new function reporting directly to the Group Chief Risk Officer and responsible for the identification, assessment, monitoring and management of model risk within Barclays. IVU is an independent arm of MRM with accountability to senior management and Board of the firm for the review and challenge of all models and assumptions driven non-model methods (NMM) to ensure accuracy and regulatory compliance of the model risk measurement and management, in support of Barclays customer and commercial agenda.
Independent Valuation Unit (IVU) is structured in 4 teams (2 US, 2 UK based) covering all models in Barclays. This role sits in the London Wholesale, Finance/Treasury and Stress testing IVU team and covers mainly IRA and other wholesale models used in MTP, IST, ICAAP and BoE stress testing frameworks.
You will be responsible for being lead validator for a wide range of models used in MTP, IST, ICAAP and BoE stress testing frameworks.
These models/frameworks are crucially important for daily business management of the Barclays Group and its legal entities as well as to meet important regulatory requirements with respect to independent validation of these frameworks.
What will you be doing?
• Perform technical analysis, data analysis, benchmarking, build challenger models (if needed) to support the validation review and challenge process
• Role holder must be able to challenge others and be open to challenge
• Role holder should seek direction on which issues are material but have own views on this also.
• Produce high quality model validation reports, with a particular focus on noting limitations, weaknesses and assumptions
• Self-study of developments in modelling and validation techniques
• Contribution to internal and external technical presentations to enhance the team development.
• Contribute to ensuring that the MRM team provides high quality input and guidance to modellers across the bank to achieve consistency of standards and compliance with internal and external requirements;
• Support team lead in key interface with owners of models
What we’re looking for:
• Highly numerate, as demonstrated by Honours degree, Masters or PhD (or similar) in a quantitative subject such as Mathematics, Physics, Operational Research, Economics, or Finance
• Significant experience of coding in R/SQL/C++/Python or equivalent language, including handling large datasets and writing functions.
• Understanding and experience in the implementation of regulators’ requirements on model risk management are also a must have
Skills that will help you in the role:
• Good communication and influencing skills, ability to produce high quality written communication for technical and non-technical audiences.
• Relevant experience in either model development or in model validation
• Expertise in validation and risk management of models
• Highly organised in terms of documentation and follow through.
Where will you be working?
In the heart of Canary Wharf, our headquarters at Churchill Place boasts onsite amenities such as; a gym, staff restaurant and deli bar, and is easily accessible by tube and bus links. With a population of around 5000 staff the atmosphere is second to none with a real buzz being created around the offices within
Interested and want to know more about Barclays? Visit home.barclays/who-we-are/ for more details.
Our Values
Everything we do is shaped by the five values of Respect, Integrity, Service, Excellence and Stewardship. Our values inform the foundations of our relationships with customers and clients, but they also shape how we measure and reward the performance of our colleagues. Simply put, success is not just about what you achieve, but about how you achieve it.
Our Diversity
We aim to foster a culture where individuals of all backgrounds feel confident in bringing their whole selves to work, feel included and their talents are nurtured, empowering them to contribute fully to our vision and goals.
Our Benefits
Our customers are unique. The same goes for our colleagues. That's why at Barclays we offer a range of benefits, allowing every colleague to choose the best options for their personal circumstances. These include a competitive salary and pension, health care and all the tools, technology and support to help you become the very best you can be. We are proud of our dynamic working options for colleagues. If you have a need for flexibility, then please discuss this with us.