JOB SUMMARY
- The Climate Risk Models team is established within ERM charged with building out first line Climate Risk management capabilities, in terms of risk identification, measurement and integrating these into governance and existing risk processes and partnership with the business. This role will support the Head, Climate Risk Models in the required enhancements to existing risk management capabilities in line with emerging regulatory expectations.
RESPONSIBILITIES
Strategy
- Support climate risk modelling (both physical risk and transition risk) and the use of climate risk models for credit risk and financial stress testing.
- Support initiatives to build out Climate Risk scenario analysis / stress testing capabilities covering Physical and Transition Risks, and for use in BAU client and transactional assessments
- Assess emerging Climate Risk scenarios (e.g. NGFS, IEA), climate stress testing industry practices and supervisory expectations and develop a roadmap for establishing in-house capabilities
- Support the evaluation of external vendor solutions to help fill gaps in internal data and/or analytical capabilities in the short run. Work collaboratively with vendors where necessary
- Work with Model Risk Management to ensure adherence to model risk policy requirements
- Contribute to the broader Climate Risk team in building out best-in-class first line climate risk management capabilities
- Interrogate, assess and choose appropriate models from external parties, including vendors
- Establish requirements and work with Risk Data team in order to collect data on transition risk impacts and risk-related scenario analysis
- Where projects arise collaborate with our academic partners on research opportunities for developing bespoke climate risk modelling and represent the Bank at academic / industry working groups
Business
- Support engagement with key footprint countries as well as risk and business stakeholders on the topic of Climate Risk. Ensure the model outputs are fit for purposes not only for regulatory purposes, scenario analysis and stress testing but also for daily business usage, underwriting decisions, risk appetite decisions and strategy design.
Processes
- Assess the downstream impact of models to understand its network risk. Participate in relevant model implementation and its user acceptance test to ensure models are appropriately implemented not only within the direct system environment but also its relevant downstream environments. Help policy team to provide model usage guidance to users and address users’ feedback.
Risk Management
- Understand Model related uncertainty risk including data, regulatory, business strategy, market, competitive landscape, system, environment, and others to ensure model sponsors, owners and model approval committees make right decisions based on the understanding of associated risk.
Governance
- Keep abreast and address home and host regulatory changes relating to models. Ensure modelling process and models meet Model Risk Policy and Model Family Standards so that they can be approved by delegated model approval committee and approval committee. Provide timely and high-quality responses to regulatory queries and requests.
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.
- Achieve the outcomes set out in the Bank’s Conduct Principles: Fair Outcomes for Clients
- Effectively and collaboratively identify, escalate, mitigate and resolve risk, conduct and compliance matters.
Key Stakeholders
- Group Model Validation, Home and host Regulators, Model Sponsors and Owners, CIC Business & Credit, CPBB Business & Credit, Model Risk Management, Credit Policy teams, Finance & Group Treasury
Other Responsibilities
- Embed Here for good and Group’s brand and values in the Climate Risk Team; Perform other responsibilities assigned under Group, Country, Business or Functional policies and procedures
Our Ideal Candidate
- 5+ years of relevant experience in Model development or Model Validation.
- Climate risk model development experience or knowledge of Risk modelling within a financial services setting.
- Familiarity with conventional transition scenario modelling and tools, including Integrated Assessment Models (IAMs), Simulation Models and Probabilistic Models
- Familiarity with the increasing regulatory expectations facing banks with respect to climate risk
- Excellent analytical skills and comfortable working with large datasets; expertise in econometrics and other quantitative methods is highly desirable.
- Experience in dealing with change projects and/or building / delivering new capabilities.
- Experience of liaising across diverse stakeholder groups; including senior managers, and large firm networks.
- Home and Host Regulatory Framework and Requirements: Awareness and understanding of the regulatory framework in which the firm operates
- Good knowledge of banking risk management, a knowledge of Basel/CRR/EBA/IFRS 9 regulations and standards
- Understanding of Corporate, Institutional, and Commercial & Retail portfolios and products
- Experience in developing or validating quantitative models in areas related to credit risk
- Strong academic background in a highly quantitative discipline, including economics, stats or maths
- Understanding of application of climate risk models, climate science and the key issues that surrounds climate risk areas.
- Strong programming skills (Python, R, SAS, SQL, VBA, etc.).
Interpersonal skills:
- The candidate should be highly-motivated to rapidly advance the firm's plan to establish a comprehensive climate risk management framework against an ambitious timeline.
- Analytical and independent thinker.
- Excellent attention to detail and good time management.
- Initiative, creativity and problem solving.
- Self-starter, ability to quickly assimilate and analyse large amounts of information across a variety of topics
- Proven ability to partner and collaborate across an organisation, excellent facilitation and partnering skills, with the ability to build relationships, partner effectively and build a strong internal network across functions and throughout the global Risk network together with the matrix at all levels of the organisation
Role Specific Technical Competencies
- Solid understanding and experience in climate risk modelling and the key issues that surrounds climate risk areas.
- Expertise in analytics, developing or validating statistical models within banking industry.
- Proficient in statistical and data analysis using data management and statistical software which includes Python, R, SAS, SQL, VBA, etc.
- Strong communication and project management skills.
- Strong focus on quality control and attention to detail.
- Knowledge of banking data and IT infrastructure, including data management and data quality control
About Standard Chartered
We're an international bank, nimble enough to act, big enough for impact. For more than 170 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
- Are better together, we can be ourselves, be inclusive, see more good in others, and work collectively to build for the long term
What we offer
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 leave, parental/maternity (20 weeks), sabbatical (12 months 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
