| Date | 2024-11-12 |
|---|---|
| Job Title | Senior Model Risk Analyst |
| Employer | Network Finance More Information |
| Salary | 1000000 |
| Category | Engineering |
| Location |
Gauteng / Johannesburg North |
Job Summary
A Senior Model Risk Analyst ensures compliance with model risk governance by monitoring model performance, identifying limitations, and collaborating with the Quant Risk team to resolve issues. The role involves re-certifying models, addressing shortcomings, and aligning with market changes and new business opportunities, while working with cross-functional teams to ensure models remain robust, well-documented, and updated as needed.
Job Purpose:
- Recertification & Review: Perform full recertification or affirmation of model parameters and performance based on inventory and review schedules.
- Identify Model Risks: Assess model risks during certification reviews.
- Materiality Assessments: Design and implement materiality assessments and monitoring for limitations with the Quant Risk team.
- Understand Operational Constraints: Analyze and incorporate physical operational constraints into model representations when necessary.
- Performance Review: Conduct performance reviews, including convergence tests and other performance evaluations defined in the model.
- Documentation & Version Control: Ensure models are properly documented, version-controlled, and validated for a clear audit trail.
Job Experience & Skills Required:
- Bachelor’s Degree in quantitative disciplines such as Economics, Mathematics, Actuarial Science, Statistics, or Financial Engineering.
- A minimum of 3-7 years of experience in model risk management, validation, and control, with in-depth knowledge of regulatory frameworks (e.g., IFRS, PRA) and experience using risk modeling tools (e.g., Python) and model validation methodologies.
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