Job Description

Model Governance SME - Operational Risk Domain

Position Overview : The Model Governance Subject Matter Expert (SME) specializing in Operational Risk is responsible for overseeing the governance, validation, and compliance of risk models used within the operational risk framework. This role ensures that models are developed, implemented, and monitored in accordance with regulatory requirements and best practices, aligning with the organization’s risk management strategy.

Key Responsibilities :

• Model Governance : Lead the governance process for operational risk models, including model validation, documentation, and periodic reviews. Ensure all models comply with internal policies and external regulatory standards.
• Risk Assessment : Conduct thorough risk assessments of operational risk models to identify potential weaknesses, limitations, and areas for improvement.
• Regulatory Compliance : Ensure all models adhere to relevant regulatory requirements, such as those set out by the PRA, FCA, and Basel III / IV frameworks.
• Stakeholder Collaboration : Work closely with risk management teams, model developers, and other stakeholders to ensure effective communication and understanding of model-related issues.
• Model Validation : Oversee the independent validation of models, ensuring their accuracy, robustness, and appropriateness for the operational risk domain.
• Reporting and Documentation : Prepare detailed reports and documentation for internal governance committees and regulatory bodies, outlining model performance, risks, and compliance status.
• Continuous Improvement : Stay updated on industry trends, regulatory changes, and best practices to continuously improve the model governance framework.

Qualifications :

This role is critical for ensuring that operational risk models are effectively governed, compliant, and aligned with the organization's risk management objectives.