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Model Risk Management-BA3

Barclays

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About Barclays

  • 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.
  • Join us as an "Model Risk Management- BA3" at Barclays, where you'll spearhead the evolution of our digital landscape, driving innovation and excellence.
  • You'll harness cutting-edge technology to revolutionise our digital offerings, ensuring unapparelled customer experiences.

Responsibilities

  • 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.
  • 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 meet the needs of stakeholders/ customers through specialist advice and support Perform prescribed activities in a timely manner and to a high standard which will impact both the role itself and surrounding roles.
  • Likely to have responsibility for specific processes within a team They may lead and supervise a team, guiding and supporting professional development, allocating work requirements and coordinating team resources.
  • They supervise a team, allocate work requirements and coordinate 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.
  • L – Listen and be authentic, E – Energise and inspire, A – Align across the enterprise, D – Develop others.
  • OR for an individual contributor, they manage own workload, take responsibility for the implementation of systems and processes within own work area and participate on projects broader than direct team.
  • Execute work requirements as identified in processes and procedures, collaborating with and impacting on the work of closely related teams.
  • Check work of colleagues within team to meet internal and stakeholder requirements.
  • Provide specialist advice and support pertaining to own work area.
  • 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 all teams in area contribute to the objectives of the broader sub-function, delivering impact on the work of collaborating teams.
  • Communicate sensitive or difficult information to customers in areas related specifically to customer advice or day to day administrative requirements.
  • Build relationships with stakeholders/ customers to identify and address their needs.

Requirements

  • Continually develop awareness of the underlying principles and concepts on which the work within the area of responsibility is based, building upon administrative / operational expertise.
  • Make judgements based on practise and previous experience.
  • Assess the validity and applicability of previous or similar experiences and evaluate options under circumstances that are not covered by procedures.
  • Providing input to/support the governance and reporting processes related to the Model Risk Basic/ Essential Qualifications: Highly numerate, as demonstrated by Honours degree, Masters or similar in a quantitative subject such as Mathematics, Physics, Operational Research, Economics, or Finance Proficient knowledge of coding in Excel-VBA/R/SQL/C++/Python or equivalent language, including handling large datasets and writing functions.
  • Good communication and influencing skills, ability to produce high quality written communication for technical and non-technical audiences.
  • Highly organised in terms of documentation and follow through.
  • Experience in Data understanding / handling and manipulations, data control and its importance.
  • Awareness of reporting and Data Visualization tools Ability to think strategically and ability to focus on the whole portfolio of MRM activities Desirable skillsets/ good to have: Bachelor’s in quantitative fields, such as Mathematics, Physics, Operational Research, Finance, and Economics Relevant experience in Model validation, Data Analytics, Banking & Finance, Python, Qlik & Tableau Ability to work in a high performing team, and the ability to work and liaise with others in a diverse team Beyond risk management, knowledge in financial projection, algorithm design Risk and Control Objective: Ensure that all activities and duties are carried out in full compliance with regulatory requirements, Enterprise-Wide Risk Management Framework and internal Barclays Policies and Policy Standards This role will be based out of Noida.

Preferred

  • You may be assessed on the key critical skills relevant for success in role, such as experience with model development and validation, as well as job-specific skillsets.
  • To be successful as a Model Risk Management- BA3, you should have experience with: Providing independent review (IR) and challenge of quantitative and qualitative processes categorized as models (models can be from Capital, Artificial Intelligence & Machine Learning (AIML), Stress Testing, Treasury etc. framework) to a high degree of depth, as required by, and detailed in the Bank’s policies and standards.