Senior Manager, Model Risk

Job Summary

• The role holder is a part of the Model Risk Policy and Governance (“MRPG”) function in Bangalore, India focusing on providing integrated support for the Group.
• The role holder would support the ERM Model Risk Management team to ensure that Group Model Risk Policy (GMRP) and Group Model Risk Standards (GMRS) are adhered to.
• The role holder would be the primary point of contact for Traded Risk model families within MRPG.
• The role holder is responsible for providing effective governance, oversight, and controls in accordance with model risk governance and risk reporting responsibilities.
• The role holder is responsible for preparing monthly and quarterly model risk information reports and any other ad-hoc reports as required. This includes engagement with stakeholders for inputs and review/ challenge of progress updates provided by stakeholders against timelines.
• The role holder would support the SS1/23 roll out in the Traded Risk model families by actively engaging with the stakeholders.
• The role holder would support the building of the Group DQMs Inventory tool (Model Risk Management System), various functionalities in GAME (Model Inventory Platform) & Dashboard enhancements by collaborating with the MRMS /GAME development team to provide end-to-end support for implementation of various workflows, tasks and functionalities that is aligned to the industry standards.
  
  

Key Responsibilities

The role holder support the ERM Model Risk Management team to ensure that Group Model Risk Policy (GMRP) and Group Model Risk Standards (GMRS) are adhered to.

Business

The role holder is a part of the Model Risk Policy and Governance (“MRPG”) function in Bangalore, India focusing on providing integrated support for the Group.

Processes

Maintain Frameworks, Policies, and Standards

• Support the periodic review and maintenance of Model Risk RTF, Group Model Risk Policy (GMRP), Group Model Risk Standard (GMRS), Group Deterministic Quantitative Methods (DQM) Standards, and Model Family Standards (MFS). This includes initiating periodic reviews, managing stakeholder consultations, thematic reviews and supporting the final incorporation of changes to the documents.
• Provide ongoing support for the implementation of RCSA controls (operational risk controls, control tests, key control indicators for policy compliance) and residual risk assessments across Traded Risk model families.
• Support the effectiveness reviews performed for the RTF, policy, and standards. Manage the periodic policy compliance assessments for the assigned model families to ensure adherence to the GMRP.
  
  

Oversight Reporting

• Prepare monthly and quarterly model risk information reports, oversight reports, Data Quality (DQ) items report and any other ad-hoc reports as required. This includes engagement with stakeholders for inputs and review/ challenge of progress updates provided by stakeholders against timelines.
• Act as the primary point of contact for Traded Risk model families within MRPG. Provide inputs and manage queries specific to these model families as a part of the various oversight and reporting activities
• Identify, review and track model risk issues and ensure that these are reported to senior management with remediation plans in place and are tracked to completion.
• Provide oversight on various Data quality (DQ) items related to Inventory via DQ item Dashboard and ensure that these are managed by relevant stakeholders with periodic follow-ups to bring them to closure.
  
  

Skills And Experience

SS1/23 roll out and Other Streamlining Initiatives

• Support the SS1/23 roll out in the Traded Risk model families by actively engaging with the stakeholders and ensuring that the actions as per the Road to Compliance (RTC) is met within the timeline.
• Support the building of the Group DQMs Inventory tool (Model Risk Management System) by collaborating with the MRMS development team to provide end-to-end support for implementation of various workflows, tasks and functionalities that is aligned to the industry standards.
• Support the stakeholders in Traded Risk model families to roll out various SS1/23 requirements via using the MRMS as required .
• Support the GAME (Model Inventory Platform) & Dashboard enhancements by actively engaging in the implementation of its functionalities, as required . Collaborate with GAME development team to provide end-to-end support for implementation of various functionalities and workflow that is aligned to the industry standards.
• Support the efforts to improve and streamline existing processes and contribute to building standard templates, procedures, and practices to provide an efficient oversight to the model life cycle, as required.
• Provide support for the effective administration of the Group Model Inventory tool (GAME – Global Model Analytics Explorer) and Group DQMs Inventory tool (Model Risk Management System)
• Provide support to continuously improve the operational efficiency and effectiveness of the Model Risk Management processes.
  
  

People & Talent

• The role holder is a good team player.
• Collaborative; working as a part of a broader team to ensure a coordinated and consistent approach
  
  

Risk Management

Regulatory Analysis and Updates

• Coordinate and provide periodic updates to senior management on upcoming regulatory changes and its impact on the functioning of MRM frameworks.
• Support the coordination of regulatory capital analysis, consultations, responses impacting risk models, policies, and processes for the ERM function.
  
  

Governance

• Support the SS1/23 roll out in the Traded Risk model families by ensuring the Group DQM Standards is complied by the stakeholders.
• Ensure that outcomes delivered, including necessary controls are fit for purpose and meet regulatory requirements and ensure the Bank’s risk governance disciplines are adhered with.
• Support through awareness and understanding of the regulatory framework (specifically FED SR 11/7 or PRA SS 3/18, SS1/23) in which the Group operates, and the regulatory requirements and expectations relevant to the role.
• Oversee changes in the Group’s arrangements to deliver effective governance, oversight, and controls in accordance with model risk governance and risk reporting responsibilities.
  
  

Qualifications

• Model Risk Management Team
• Members of ERM Management Team
• Policy Owners, Model Sponsors and Global process Owners
• Traded Risk Management (TRM) team
• Independent Review Function
• Financial Markets COO team
• Model Analytics Group (MAG), FM
• Country CRO, RFO, Governance teams
• Internal Audit – Functions
• Group OR, and other business COOs
  
  

The role holder should bring the following experience and capabilities:

• Market Knowledge: 8-12 years of total experience with minimum 4-5 years of experience in Model Risk Management
• Good communicator, in particular written communications in English
• Ability to explain complex matters in simple and intuitive terms
• Ability to track and report progress updates of multiple areas against milestones and highlight key issues
• Collaborative; working as part of a broader team to ensure a coordinated and consistent approach
• Good organiser of incoming requests within the team
• Ability to work with minimal direction
• Demonstrate understanding of and commitment to the Group's core values.
• Ownership mindset, able to think creatively and be open to new ideas
• Able to work with tight deadlines and multiple demands
• Attention to detail
• Proactive, problem-solving, helpful
• Strong experience in MS Outlook, Word, Excel, Power Point, and preferably Atlassian JIRA
  
  

Qualifications

• EDUCATION Bachelor’s degree qualifications and 8- 12 years of experience in Banking\Financial Services having good exposure to Model Risk Policy and Governance
• TRAINING The role holder should comply with all mandatory e-learning as prescribed from time to time.
  
  

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.