Deloitte, Manager, Model Development, Risk Advisory, London

Role description

Financial institutions face a period of unprecedented regulatory change in terms of the number of new initiatives, their complexity and the interplay between different regulations.

Against this backdrop Deloitte has created a Credit Risk Modelling team to assist clients in delivering, streamlining and transforming end to end design, development, validation and implementation of credit risk models. This team assists financial institutions across the Model Risk Management lifecycle and is widely regarded in the market place as the leading Credit Risk Modelling team.

The primary objective of our team is to design, build and implement credit risk models within the financial services industry, advising and influencing clients on how best to drive value in the face of an ever increasing and complex regulatory agenda.

In response to the growing demand for the team’s services from internal and external clients, we are looking for a Manager to work with us to drive forward the credit risk model development and validation agenda within the existing team.

The successful applicant will enjoy an unparalleled opportunity to develop their credit risk modelling skills and experience which are invaluable in today’s market place.

Responsibilities

You will work closely with the Credit Risk Modelling leadership team and our clients. The role will require a flexible approach to tackle a wide range of tasks including:

  • Provide leadership and expert input into all aspects of model selection, development, review, validation and stress testing, using your previous experience of development, deployment and review of credit risk models (including but not limited to those used to manage default risk (e.g. Probability of Default – PD), recovery and loss (e.g. Loss Given Default – LGD) and exposure profile (e.g. Exposure at Default – EAD))
  • Evaluate, design, develop and implement policies, procedures and strategies to manage model risk, consistent with regulatory requirements and/or market practice across credit risk management, modelling and process
  • Review and provide opinions on the quantitative and qualitative elements of the credit risk model development process, including conceptual methodology, approval, validation and stress testing of outcomes
  • Develop robust and professional working relationships with clients and key stakeholders
  • Lead small credit risk model development and validation teams, having a broader perspective of potential issues encountered when managing diverse teams and the strategies to overcome them and having a clear understanding of the firm’s commitment to creating a more inclusive culture
  • Keep up to date with academic, technical and industry developments in the field of credit risk management and modelling

Applicants will also be required to track and quickly and efficiently review a large volume of information in order to identify and disseminate the key points in a coherent manner.

To have a broader perspective of potential issues encountered when managing diverse teams and the strategies to overcome them; have a clear understanding of the firm’s commitment to creating a more inclusive culture.

Requirements

To qualify for the role you must have:

  • Numerical degree e.g. Mathematics, Engineering, Physics, Operational Research
  • Masters degree in a relevant quantitative/finance discipline
  • Professional qualification (such as PRMIA, GARP, CFA) an advantage
  • Strong analytics skills in relation to acquisition and behavioural scoring, Basel capital modelling, impairment modelling and model risk management.
  • Significant Financial Services experience, either as part of a Financial Services Institution, in an advisory or business consulting capacity to similar organisations or in the regulation of such institutions, particularly in the following areas: Retail Banking/ Commercial Banking/ Corporate Banking
  • Detailed understanding of the overall model risk management lifecycle and associated policies, procedures and strategies employed to manage this risk
  • Detailed understanding of the overall credit risk management lifecycle and associated credit risk and the policies, procedures and strategies employed to manage this risk
  • Relevant credit risk management, credit risk modelling or business expertise within a Retail/Commercial or Corporate bank, with the ability to apply technical financial services regulation to practical business scenarios
  • Credit risk management and credit risk modelling experience
  • Strong awareness of the financial services industry plus deep knowledge of the risk management regulation and practices, in particular related to Basel credit risk capital and IFRS 9 impairment
  • Working knowledge of a range of retail, commercial and corporate banking products.
  • Strong work ethic, professional and personable

Additional desirable experience includes:

  • Highly motivated, with a proven track record and ability to work on own initiative within a challenging/dynamic work environment
  • Strong team player with strong organisation, planning and leadership skills
  • Experience of leading project teams through technical assignments or as a critical team member on a major credit risk project/programmes
  • Excellent interpersonal and influencing skills, including strong oral and written communication of technical concepts to a non-technical audience
  • Strong IT skills including Microsoft applications (Word, Excel, PowerPoint) and use of programming/statistical packages (e.g. R, SAS, Eiews, VBA, Stata, Matlab)

We are Risk Advisory

In a constantly evolving, complex risk environment, our market leading Risk Advisory professionals are trusted by organisations across the globe to support them in understanding, evaluating and mitigating risk.

Our clients demand industry experts who understand their challenges intimately and with whom they can build trusted relationships. They choose us because we provide bespoke solutions that deliver the power of Deloitte, bringing together: people they respect and enjoy working with; innovative technology; and an approach that allows them to make informed and intelligent risk decisions.

Our expertise spans all areas and sectors including technology risk, governance, internal audit, regulatory compliance, risk analytics, public sector and managed services. As a member of the team, you will work with inspiring, ambitious and supportive people who have diverse and extensive skills, experience and backgrounds. A move to Risk Advisory will help you to build a rewarding and balanced career.

About Deloitte

Deloitte offers integrated services that include Audit and Risk Advisory, Tax, Consulting and Financial Advisory. Our approach combines insight and innovation from multiple disciplines with global business and industry expertise to help our clients excel anywhere in the world.

We deliver outstanding impact on the reputation and success of our clients, in the UK and globally. In pursuing this we contribute to a sustainable and prosperous society, and are firm believers in the positive impact business can and should have on the world it operates within.

At Deloitte we foster a collaborative culture where talented individuals can produce their best work. We value innovative thinking, diverse insights and a genuinely distinctive level of customer service through our expertise and professionalism.

We value difference, with respect at the heart of our inclusive culture. We are open to discussing with candidates the different ways in which we are able to support agile working arrangements. We recognise that our people are juggling demanding careers with commitments and interests outside of work.

Hear from some of our people already working at Deloitte in agile ways.

We are proud to have received a special award for Best Innovation for our WorkAgility Time Out programme in the 2015 Top Employers for Working Families awards.

Requisition code: 126342


See Inside the Office of Deloitte

One of the largest professional services organizations in the U.S., Deloitte delivers innovative solutions to the complex business problems facing companies around the world. Deloitte offers rewarding careers in four businesses—audit, tax, consulting, and financial advisory. Widely recognized for its inclusion initiatives, Deloitte is committed to building a workplace environment that allows people from all generations, ethnicities, and cultures to be their authentic selves.


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