Model Risk Management - Model Validation VP

Barclays • Wilmington, DE

1d • Onsite

About The Position

Join Barclays as a Model Risk Management - Model Validation VP, where you'll have the chance to lead the independent validation and oversight of risk models, ensuring they meet robust governance and regulatory standards. In this role, you will identify, assess, and manage existing and emerging model risks, while supporting the integration of Best Egg models into the Barclays model governance framework. You will perform in-depth technical analyses, benchmarking, and, where required, develop challenger models to strengthen the validation process and provide effective challenges. The position involves producing high-quality validation reports and presenting insights to key stakeholders, contributing to informed risk management decisions. You will collaborate closely with model owners and developers to communicate validation expectations and enhance the quality of model submissions. Through your expertise, you will help reinforce a strong model risk culture and ensure the integrity and reliability of critical risk models across the organization.

Requirements

• Experience in the development and/or independent validation of retail credit risk and loss forecasting models within a controlled framework
• Previous experience working in open market personal loan business and modelling
• Written and verbal communication skills, with the ability to produce clear, concise model validation documentation and deliver presentations to both technical and non-technical stakeholders
• Advanced degree in a numerate discipline (e.g., Mathematics, Physics, Operational Research, Financial Engineering), or equivalent practical experience demonstrating a high level of quantitative and analytical capability
• Working knowledge of model risk and governance standards, including the preparation and review of documentation supporting predictive models
• Organisational, project management, and stakeholder influencing skills, with the ability to manage competing priorities effectively
• Experience engaging with internal and external audit functions, including supporting reviews, responding to findings, and ensuring adherence to control frameworks
• Risk and controls
• Change and transformation
• Business acumen
• Strategic thinking
• Digital and technology
• Job-specific technical skills

Nice To Haves

• Some other highly valued skills may include:

Responsibilities

• 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.
• Contribute or set strategy, drive requirements and make recommendations for change.
• Plan resources, budgets, and policies; manage and maintain policies/ processes; deliver continuous improvements and escalate breaches of policies/procedures.
• If managing a team, they define jobs and responsibilities, planning for the department’s future needs and operations, counselling employees on performance and contributing to employee pay decisions/changes.
• Lead a number of specialists to influence the operations of a department, in alignment with strategic as well as tactical priorities, while balancing short and long term goals and ensuring that budgets and schedules meet corporate requirements.
• 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.
• As an individual contributor, be a subject matter expert within own discipline and guide technical direction.
• Lead collaborative, multi-year assignments and guide team members through structured assignments, identify the need for the inclusion of other areas of specialisation to complete assignments.
• Train, guide and coach less experienced specialists and provide information affecting long term profits, organisational risks and strategic decisions.
• Advise key stakeholders, including functional leadership teams and senior management on functional and cross functional areas of impact and alignment.
• Manage and mitigate risks through assessment, in support of the control and governance agenda.
• Demonstrate leadership and accountability for managing risk and strengthening controls in relation to the work your team does.
• Demonstrate comprehensive understanding of the organisation functions to contribute to achieving the goals of the business.
• Collaborate with other areas of work, for business aligned support areas to keep up to speed with business activity and the business strategies.
• Create solutions based on sophisticated analytical thought comparing and selecting complex alternatives.
• In-depth analysis with interpretative thinking will be required to define problems and develop innovative solutions.
• Adopt and include the outcomes of extensive research in problem solving processes.
• Seek out, build and maintain trusting relationships and partnerships with internal and external stakeholders in order to accomplish key business objectives, using influencing and negotiating skills to achieve outcomes.
• Identify, assess, and manage existing and emerging model risks.
• Support the integration of Best Egg models into the Barclays model governance framework.
• Perform in-depth technical analyses, benchmarking, and, where required, develop challenger models to strengthen the validation process and provide effective challenges.
• Produce high-quality validation reports and present insights to key stakeholders, contributing to informed risk management decisions.
• Collaborate closely with model owners and developers to communicate validation expectations and enhance the quality of model submissions.
• Reinforce a strong model risk culture and ensure the integrity and reliability of critical risk models across the organization.

Benefits

• Our employees are self-disciplined, hard working, curious, trustworthy, humble, and truthful.
• They make choices according to what is best for the team, they live for opportunities to collaborate and make a difference, and they make us the #1 Top Workplace in the area.

What This Job Offers

• Job Type: Full-time
• Career Level: Manager