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Join our Qualitative Model Validation team! If you have a problem solving mindset, enjoy challenging status quo and want to develop in financial forecasting, stress testing, and analyzing different risk categories this role might be for you! Qualitative Model Validation team is an expert function within Risk organization that consists of finance, statistics, and risk professionals responsible for review and assessment of judgmental forecasting approaches. Model Validator confirms that models are used appropriately by the business and that model weaknesses are successfully captured and mitigated by Model Owner. This is accomplished by review of model data, assumptions, and outputs, challenging them, and evidencing results in a review final report. Qualitative Models rely on expert judgment assumptions rather than on quantitative techniques such as regression techniques and machine learning algorithms. Qualitative Models are widely used in areas such as stress testing and financial planning. We are working in a dynamically developing international team reviewing a large variety of models covering numerous areas and banking products.
Job Responsibility:
Performing independent validation of qualitative models across the firm
Reviewing appropriateness of a qualitative Model versus alternative quantitative approaches
Analyzing the model design, and assumptions and challenging them to identify best solution
Investigating judgmental inputs used during forecasting and comparing with trends and industry standards
Assessing development approach and testing results for individual models provided by Model Sponsor
Evaluating model performance on ongoing basis
Writing high quality validation reports, highlighting risks and limitations of the model
Working with Model Sponsor to resolve model issues
Collaborating with other teams within Risk and the Business regarding qualitative models to ensure compliance with our policies, procedures, and guidance
Supporting the process of designing, developing, delivering and maintaining best-in-class qualitative model validation process standards, guidance, practices, templates and other documentation
Requirements:
Minimum Bachelor’s degree in Finance or Economics, or other quantitative discipline. Masters’ degree is preferable
2 years of experience / knowledge of Banking, Treasury, Finance or Risk management
General understanding of modeling / forecasting
Knowledge of time series analysis, statistics and econometrics
Ability to formulate findings clearly and concisely in a written form and good verbal communication skills
Good analytic, creative thinking and problem solving abilities
Demonstrate excellent partnership and teamwork skills
Adept and meticulous at analysis of data and documentation
Ability to multi-task, work well under pressure and committed to deliver under tight deadlines
Knowledge of financial markets and products would be a plus
Nice to have:
Knowledge of financial markets and products
What we offer:
Work in a challenging area of the financial industry with one of the world's leading companies with exposure to variety of products, processes and controls
Position with multiple development opportunities including internal promotion
Opportunity to develop in multiple areas such as as financial forecasting, stress testing, modeling market risk, operational risk and credit risk
Cooperation with a high quality, international, multicultural and global team
Work in a friendly and diversified environment, appreciating differences in style and perspective and using them to add value to decisions leading to organizational success
Management supporting balanced and agile work (flexible working hours, home office)
Attractive benefits package (Benefit System, medical care, pension plan etc.)
A chance to make a difference with various affinity networks and charity initiatives
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