Manager, FCC Model Validation

3 weeks ago

Singapur, Singapore Standard Chartered Bank Full time

Role Responsibilities

Perform independent validation of new and existing models that are used in Financial crime risk management, anti-money laundering, transaction monitoring, screening, fraud risk management etc. Qualitative review of model development process including underlying assumptions & theoretical basis. Quantitative assessment of model performance via data evaluation and statistical testing. Documentation of validation findings and communication of results to senior management and presentation to relevant committees. Coordination with internal stakeholders on model issues, achieving suitable resolutions. Manage and complete the model validation from end to end, meeting the planned timelines and required standards. Recommend improvements in the models. Review regulatory requirements and industry practice regarding the models. Assist Head of Model Validation in addressing concerns or questions relating to the models.

Strategy

Deliver on regulatory and business priorities through effective model validation activities.

Business

Advise work streams/business teams on areas of improvement and enhance the quality and credibility of internal and external/regulatory submissions (where applicable).

Processes

Continuously improve the operational efficiency and effectiveness of the validation processes. Identify and escalate significant issues and ensure these issues are appropriately tracked and followed up. Continuously improve the model validation activity, ensuring compliance with the Group’s policies, standards, existing and emerging regulatory requirements

People & Talent

Build good and productive working environment. Lead through example and build the appropriate culture and values within the team and across the wider organization.

Risk Management

Ensure effective management of the operational risks within the function and compliance with applicable internal policies, and external laws and regulations. Uphold and reinforce the independence of the model validation team from those whose primary responsibility is to maximize short-term revenues and profits. Consult and assist the business functions to ensure model risk management remains fit for purpose.

Governance

Submit reports and findings to relevant model approval forums and committees. Ensure good quality and timely submission of the model validation papers to delegated model approvers.

Regulatory & Business Conduct

Display exemplary conduct and live by the Group’s Values and Code of Conduct. Take personal responsibility for embedding the highest standards of ethics, including regulatory and business conduct, across Standard Chartered Bank. This includes understanding and ensuring compliance with, in letter and spirit, all applicable laws, regulations, guidelines and the Group Code of Conduct. Effectively and collaboratively identify, escalate, mitigate and resolve risk, conduct and compliance matters.

Key stakeholders

Internal

FCC function (Group / Country) Operational Risk function Pension Risk function Members of Model Assessment Committees Members of Group Risk Committee Enterprise Risk Analytics Model Risk Policy and Governance Global, Regional and Country business heads, CEOs, COOs Internal Audit – Functions

External

Prudential Regulation Authority (PRA) and other key regulators The Group's external auditors

Other Responsibilities

Embed Here for good and Group’s brand and values in Group / Country Risk Perform other responsibilities assigned under Group, Country, Business or Functional policies and procedures.

Our Ideal Candidate

Academic and / or Professional Education / Qualifications in statistic, mathematics, operations research, computer science or other related quantitative discipline. 5+ years of experience in quantitative modelling and/or model validation, with focus on the Credit risk or Anti-Money Laundering / Compliance or Fraud Risk Management related model development or validation. Solid understanding of the development, validation and use of scorecards and rating models. Good understanding of model life cycle management and model risk management. Proficient in statistical and large datasets analysis using software solutions SAS, R, Python. Thorough understanding of Data Science, Artificial Intelligence and Machine Learning models and algorithms. Excellent understanding of models, processes and/or industrial guidelines related to credit risk management, FCC client risk assessment, transaction monitoring, screening, and fraud risk management. Strong focus on quality control and attention to detail. Curious, with ability and experience of speaking up and challenging perceived wisdom.

Role Specific Technical Competencies

Business Partnering Manage Change Data Science Manage Projects Operational Risk

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