HEAD OF MODEL RISK MANAGEMENT | 30223

Key responsibilities including however, not limited to the following:

• Framework Build & GovernanceRefine and implement the Group-wide Model Risk Mgmt. policy, model validation standards, and model risk tiering framework, calibrated to BMA and IAIS ComFrame requirements.
• Develop reporting packs, escalation protocols, and Board-level model risk disclosures for the relevant risk committee oversight.
• Build and maintain the enterprise model inventory across all business lines; define materiality thresholds and validation prioritisation criteria.
• Establish a lean approach towards validating 1st line model-owner responsibilities.
• Formulate a model risk appetite approach as appropriate and embed model risk metrics into the risk reporting.
• Define and maintain separate validation standards for traditional quantitative models across actuarial costing and reserving as well as finance and investments, capital models, third-party/vendor models (including catastrophe models), and AI/ML models.
• Model ValidationEnsure execution of independent model validations across the model inventory with appropriate prioritsation, with particular emphasis on high-tier (high impact / high complexity / high visibility) models.
• Act as the Group’s subject matter expert on model risk in interactions with the BMA and other regulators, as well as stakeholders such as external auditors.