Model Control Manager - Risk Management - Vice President - London
- Competitive Base + Bonus
- London, England, United Kingdom
- Permanent, Full time
- 12 Feb 18 2018-02-12
The successful candidate will be part of the Model Control team based in London. The role requires the applicant to have a good understanding of financial models and risk management and control approaches, with previous relevant experience at a similar institution. The candidate should also be able to manage and coordinate across multiple models and stakeholders, and be comfortable presenting to senior management.
Jefferies, the global investment banking firm, has served companies and investors for over 50 years. Headquartered in New York with its European head office in London and staff in over 30 global cities, the firm provides clients with capital markets and financial advisory services, institutional brokerage and securities research, and wealth and asset management. Jefferies provides research and execution services in equity, fixed income, foreign exchange, and a full range of investment banking services including underwriting, merger and acquisition, restructuring and recapitalisation.
The team is responsible for our model risk management approach, including model governance and maintaining compliance with the model risk policy. The team coordinates our model validations and reaffirmation processes, undertakes model performance monitoring, implements controls around model and data management, and develops and presents management information on model risk.
The successful candidate will be part of the Model Control team based in London. The role requires the applicant to have a good understanding of financial models and risk management and control approaches, with previous relevant experience at a similar institution. The candidate should also be able to manage and coordinate across multiple models and stakeholders, and be comfortable presenting to senior management. This is an exciting and challenging opportunity for the successful candidate to drive the team’s strategy and shape the nature of our model risk control framework, making a significant impact in the organisation which has undergone significant investment in these areas over the past year.
The successful candidate will have responsibilities for:
- The model governance process including responsibility for overseeing the model approval cycle from the submission of relevant documentation by the model owner to the approval process by the Model Governance Committee
- Managing and coordinating the completion of actions arising from the model validation and approval process and ensure that they are addressed
- Coordinating the ongoing model attestation and reaffirmation processes
- Maintaining the global model inventory list, ensuring appropriate timelines for review are met according to the classification of each model as well as ensuring the on-going monitoring of conditions of use and compliance with any model restrictions
- Developing metrics required for the effective understanding of model risk and controls, monitoring and reporting appropriate MI with respect to model risk, and presenting to the Model Governance Committee
- Establishing and maintaining process and controls for to test model performance and active monitoring
- Working on enhancing the systems and processes, taking part in projects as required
- Assisting with new business initiatives ensuring that relevant reporting (internal and external) can be implemented and maintained following the approval of new products/activities
The following skills and experience are required for this role:
- Educated to degree level ideally in a quantitative discipline
- Previous experience in financial services, working in a model validation environment or within risk or finance.
- Knowledge of financial products including fixed income and equity products (cash and derivatives)
- Prior experience of model validation governance standards
- Experience in MI development and setting
- Good communication, presentational, and stakeholder management skills
- Working and contributing within a team environment
- Effective and confident communication of technical subject matter
- Comfortable working in a dynamic, changing and ever evolving environment
- Ability to work independently and assume responsibility for project deliverables