Senior Analyst (Model Validation)
Manchester / Hybrid
Up to £63,000
35hrs per week
Want to change the world? A career that makes a difference
We’re not a bank that follows the crowd. Instead, we like to stand out for all the right reasons. Our bank is built on co-operative values that stand strong today. A lot has happened in 150 years, we don’t just help people with their money, but help people fight for justice and the causes they care about. Our unique customer-led Ethical Policy, has made us a natural leader in environmental and social issues today, and we’re market leaders in ESG as rated by leading ESG ratings agency Sustainalytics*.
There has never been a more pressing time for our Bank to focus our efforts on causes that matter to our customers and colleagues. Why not see where you can make a change, and join the UK’s original ethical bank to continue our ambitions to lead the industry on environmental and social issues in 2024 and beyond.
This role involves predominantly home working. Occasional office working at out head office in Manchester frequency to be discussed.
The role:
Responsible for all the Bank’s IRB models, as Senior Analyst you will ensure that the Bank complies with Model Risk internal governance requirements and that all new models and model changes are independently reviewed. The successful candidate will have a minimum of basic SAS programming and coding abilities with a desire to develop under a strong experienced Model Validation team.
Key Accountabilities:
* Provide validation of the Bank’s models, including producing the associated documents.
* Present & discuss the outcome of validation with developers and at relevant committees.
* Analyse & discuss monitoring and other reports to support decision-making regarding model risks across the Bank.
* Work collaboratively with other model teams across the Bank to achieve best practice
* Proactively encourage a culture of best model practice throughout the institution.
* Advise the Bank’s model users on model risk related issues
* Support of the independent model validation manager to ensure clarity, transparency and insight in model related discussions with internal senior management and the PRA.
* Support of the independent model validation manager in the production of key documents for relevant committees across the Bank and escalating unresolved model risks via the Bank’s governance framework.
Knowledge, Skills and Experience Required:
* Proficient in the use of SAS statistical software. Knowledge of complex Excel functions in addition would be an advantage.
* Statistical modelling and model monitoring experience
* Experience of developing or validating retail or corporate credit risk models required.
* Experience of IFRS9 modelling, or models used for Concentration Risk/Operational Risk/Finance/Liquidity Management is an advantage
* Understanding of industry-wide modelling practices and trends.
* Aweearness of Regulatory Framework and Requirements for models
Appreciation of specialist areas outside own area.
What You Can Expect From Us:
* Flexible and home working
* Annual bonus scheme
* 27 days holiday rising to 30 with service, plus opportunity to buy 5 extra days
- Competitive pension with up to 10% employer contribution
- Income protection / life assurance
* Commitment from employers on continued learning & development
* Wellbeing support ‘Help@Hand’ offers mental health support, physiotherapy, GP’s for both you and your family.
- 2 paid days for volunteering per year
- ‘MyReward’ corporate discount for over 800 retailers and Cycle to Work Scheme.
- Family friendly policies and supportive working environment
- Colleague network groups committed to inclusion and diversity within our Bank.
We can only consider candidates with the right to work in the UK at this time.
Our Bank is passionate and committed to continuing to create a diverse workforce and an inclusive environment where all colleagues can fulfil their potential. We welcome applications from talented individuals from all backgrounds and lifestyles who can work with us in maintaining a culture of belonging, where people are valued and respected
If you require more information or this document in a different format, please contact careers@co-operativebank.co.uk
As a reputable employer regulated by the Financial Conduct Authority, all offers of employment for this role are subject to a series of background checks, including criminal (DBS) and financial checks.
*Rated by Morningstar Sustainalytics in the Regional Banks sub-industry with a score of 8.5 as of 9 October 2023.