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A leading global consulting firm, not a Big-Four, known for its strong presence in the Finance, Analytics, GRC, Fintech, Internal Audit and Technology Consulting space with a diverse set of local and international clientele, is keen to hire a (Senior) Manager Model Risk Management.
The group has grown rapidly in terms of their activities, track record and presence and has succeeded in breaking new ground with their innovative business model within the following consulting solutions;
Transactions and Internal Audit.
With 4000+ professionals, the firm strives to serve clients through their own network with a global presence in 20 countries across 80+ offices.
Consistently featuring in top workplaces to work for and best consulting firms lists by Forbes, the firm is known for its entrepreneurial and autonomy driven work culture.
The Consultancy distinguishes itself by projecting the following values:
1. Real and substantive knowledge
2. Listening to the customer and looking for the solution together instead of slightly adjusting its 'own' model and pushing it into the organization (which sometimes seems to be the case with other Consultancies)
3. Jointly (with the customer) putting together a solution, so that the solution is a more permanent one
4. Soft skills - involved, friendly, authentic and professional
About the mandate:
This role is suitable for an experienced Quantitative Risk Management professional with 6+ years of experience. The Manager/Senior Manager (depending on your experience) will be responsible for the Model Risk Management projects, initially focusing on the 3rd LOD through a risk-based approach to provide assurance and internal audit solutions. The value addition is to utilize your Quantitative Risk Management background and drive the projects from a quantitative data analysis outlook and review of these existing models with the client`s models.
Understanding of the users/ stakeholders, content and compliance related to these models will be important areas to focus on. Being the Subject Matter Expert for the Quantitative Risk Management & Modelling aptitude at the Model Risk desk, the incumbent will be the "Go-To" person and absolute authority to challenge client's quantitative models.
The Manager/ Senior Manager for this position would collaborate closely with the Model Audit team and will have client facing responsibilities. Along with the focus on the 3rd LOD, the role would include working on Artificial Intelligence and Risk Modelling based models and projects. The objective of this position is to develop its own niche with a diverse set of Quantitative projects as well as develop its Artificial Intelligence related offerings.
In terms of the personality traits required for this position, senior professionals with an inquisitive and proactive mindset would be ideal for the role. They would be given complete autonomy and the right infrastructure to facilitate developing and streamlining the desk to have more Quantitative, Artificial Intelligence and Machine Learning concentrated projects, as well as a long-term vision and foresight to understand emerging state of the art technologies and incorporating them.
Another essential part of this role is the commercial mind-set and fluent Dutch (written and verbal) as this professional will be liaising directly with their prolific clientele and representing the Consultancy.
Model risk management is receiving attention due to the increase in more quantitative data analysis models. As regulatory supervision on model risk management increases, the internal audit function plays a key role in the assessment of the framework in organizations;
Internal Audit teams find themselves facing the challenge of auditing:
Complex model audits focusing on 1st line of defense (Model Development implementation and use) and 2nd line of defense (model governance including model validation).
Processes under review include data selection and processing, the model conceptual soundness review and performance testing, reporting and model use, and other complex areas.
Assessing the programmatic quality and compliance which includes model identification and tracking, model validation, and monitoring model performance.
Internal Audit assess the effectiveness of the MRM framework and gives insight into the way in which model output is used and whether it is suitable for the stated purpose of the model. Also, its asses design effectiveness of MRM framework to assist management, the board of directors and other stakeholders in the performance of their duties and to confirm that the organization adheres to the guidelines of supervisors.
Model Risk Manager
The firm is currently strengthening and extending its Model Risk Management team in the Netherlands. Therefore, looking for a model risk manager to facilitate and grow the market in the Netherlands, where you will work together with an international team of highly qualified professionals.
As manager Model Risk Management you will be responsible to:
Oversee and execute Model Risk Management projects;
Further strengthen Model Risk Management solutions;
Explore the market and to identify opportunities;
Create visibility for the firm in the field of Model Risk Management by facilitating seminars, writing articles, client visits etc; and
Train colleagues on the job.
You have sufficient knowledge of the processes and best practices of model risk management as well as a quantitative understanding;
You enjoy being challenged with complex issues and models;
Excellent analytical skills, research skills (to be able to explore new developments)
At least 6 years of work experience;
Fluent English, spoken and written;
Well-developed communication and influencing skills;
Ability to present and interact with various levels of management;
Eager to learn, energetic, loves to work in an environment without boundaries, high degree of independence and pro-active attitude.
Knowledge and experience:
Areas of experience:
Portfolio Risk Management
Pricing and valuation models
Data Management (focus on analytical purposes)
MSc Econometrics: data Science and Business Analytics
MSC Econometrics and Operational Research
Financial Risk Manager (FRM) Global Association of Risk Professionals