The Role Responsibilities
· Perform independent validation of new and existing models that are used in Financial crime risk management, anti-money laundering, transaction monitoring, screening, fraud risk management etc.
· Qualitative review of model development process including underlying assumptions & theoretical basis.
· Quantitative assessment of model performance via data evaluation and statistical testing.
· Documentation of validation findings and communication of results to senior management and presentation to relevant committees.
· Coordination with internal stakeholders on model issues, achieving suitable resolutions.
· Manage and complete the model validation from end to end, meeting the planned timelines and required standards.
· Recommend improvements in the models.
· Review regulatory requirements and industry practice regarding the models.
· Assist Head of Model Validation in addressing concerns or questions relating to the models.
Strategy
· Deliver on regulatory and business priorities through effective model validation activities.
Business
· Advise work streams/business teams on areas of improvement and enhance the quality and credibility of internal and external/regulatory submissions (where applicable).
Processes
· Continuously improve the operational efficiency and effectiveness of the validation processes.
· Identify and escalate significant issues and ensure these issues are appropriately tracked and followed up.
· Continuously improve the model validation activity, ensuring compliance with the Group’s policies, standards, existing and emerging regulatory requirements
People & Talent
· Build good and productive working environment.
· Lead through example and build the appropriate culture and values within the team and across the wider organization.
Risk Management
· Ensure effective management of the operational risks within the function and compliance with applicable internal policies, and external laws and regulations.
· Uphold and reinforce the independence of the model validation team from those whose primary responsibility is to maximize short-term revenues and profits.
· Consult and assist the business functions to ensure model risk management remains fit for purpose.
Governance
· Submit reports and findings to relevant model approval forums and committees.
· Ensure good quality and timely submission of the model validation papers to delegated model approvers.
Regulatory & Business Conduct
· Display exemplary conduct and live by the Group’s Values and Code of Conduct.
· Take personal responsibility for embedding the highest standards of ethics, including regulatory and business conduct, across Standard Chartered Bank. This includes understanding and ensuring compliance with, in letter and spirit, all applicable laws, regulations, guidelines and the Group Code of Conduct.
· Effectively and collaboratively identify, escalate, mitigate and resolve risk, conduct and compliance matters.
Key stakeholders
Internal
· FCC function (Group / Country)
· Operational Risk function
· Pension Risk function
· Members of Model Assessment Committees
· Members of Group Risk Committee
· Enterprise Risk Analytics
· Model Risk Policy and Governance
· Global, Regional and Country business heads, CEOs, COOs
· Internal Audit – Functions
External
· Prudential Regulation Authority (PRA) and other key regulators
· The Group's external auditors
Other Responsibilities
· Embed Here for good and Group’s brand and values in Group / Country Risk
· Perform other responsibilities assigned under Group, Country, Business or Functional policies and procedures.
Our Ideal Candidate
· Academic and / or Professional Education / Qualifications in statistic, mathematics, operations research, computer science or other related quantitative discipline.
· 5+ years of experience in quantitative modelling and/or model validation, with focus on the Credit risk or Anti-Money Laundering / Compliance or Fraud Risk Management related model development or validation.
· Solid understanding of the development, validation and use of scorecards and rating models.
· Good understanding of model life cycle management and model risk management.
· Proficient in statistical and large datasets analysis using software solutions SAS, R, Python.
· Thorough understanding of Data Science, Artificial Intelligence and Machine Learning models and algorithms.
· Excellent understanding of models, processes and/or industrial guidelines related to credit risk management, FCC client risk assessment, transaction monitoring, screening, and fraud risk management.
· Strong focus on quality control and attention to detail.
· Curious, with ability and experience of speaking up and challenging perceived wisdom.
Role Specific Technical Competencies
· Business Partnering
· Manage Change
· Data Science
· Manage Projects
· Operational Risk
About Standard Chartered
We're an international bank, nimble enough to act, big enough for impact. For more than 160 years, we've worked to make a positive difference for our clients, communities, and each other. We question the status quo, love a challenge and enjoy finding new opportunities to grow and do better than before. If you're looking for a career with purpose and you want to work for a bank making a difference, we want to hear from you. You can count on us to celebrate your unique talents. And we can't wait to see the talents you can bring us.
Our purpose, to drive commerce and prosperity through our unique diversity, together with our brand promise, to be here for good are achieved by how we each live our valued behaviours. When you work with us, you'll see how we value difference and advocate inclusion. Together we:
· Do the right thing and are assertive, challenge one another, and live with integrity, while putting the client at the heart of what we do
· Never settle, continuously striving to improve and innovate, keeping things simple and learning from doing well, and not so well
· Be better together, we can be ourselves, be inclusive, see more good in others, and work collectively to build for the long term
In line with our Fair Pay Charter, we offer a competitive salary and benefits to support your mental, physical, financial and social wellbeing.
· Core bank funding for retirement savings, medical and life insurance, with flexible and voluntary benefits available in some locations
· Time-off including annual, parental/maternity (20 weeks), sabbatical (12 weeks maximum) and volunteering leave (3 days), along with minimum global standards for annual and public holiday, which is combined to 30 days minimum
· Flexible working options based around home and office locations, with flexible working patterns
· Proactive wellbeing support through Unmind, a market-leading digital wellbeing platform, development courses for resilience and other human skills, global Employee Assistance Programme, sick leave, mental health first-aiders and all sorts of self-help toolkits
· A continuous learning culture to support your growth, with opportunities to reskill and upskill and access to physical, virtual and digital learning
· Being part of an inclusive and values driven organisation, one that embraces and celebrates our unique diversity, across our teams, business functions and geographies - everyone feels respected and can realise their full potential.
Recruitment assessments - some of our roles use assessments to help us understand how suitable you are for the role you've applied to. If you are invited to take an assessment, this is great news. It means your application has progressed to an important stage of our recruitment process.
Visit our careers website www.sc.com/careers
