Analyst - Model Validation

Division Description

Group Risk guides the Group in its definition and articulation of risk appetite and provides strong independent oversight and management of the Group's risk profile, as the Group fulfils its Purpose to enable our customers, colleagues and communities to thrive and pursues its Ambition to be the National Champion Bank in Ireland and selective international diversification. As the Group progresses its Strategic Priorities to Serve customers brilliantly, Transform the Bank and Grow sustainable profits the Group Risk adopts the philosophy that great customer outcomes and great risk management are intrinsically linked through culture. The Function maintains a robust risk culture, in support of the Group's strategic goals, by ensuring that the appropriate structures, systems, policies and controls are in place to provide effective management of risk. Group Risk strives to support the Group in optimising returns over the longer term through robust and value adding risk management. The Functions ambition is to ensure that Group Risk is an enduring source of strategic advantage to the Group.

Description of business unit

The Independent Validation Unit (IVU) is part of Model Risk Management and is the analytical centre of excellence within Group Risk for review and assessment of the Group's models. The IVU's responsibilities include:

• Independent evaluation of models, both Retail and Non-retail model for regulatory capital purposes along with other Group models including IFRS9, Pillar II capital models, pricing and decision making models and thus playing a key role in the overall assessment and governance of model risk.
• Providing reports on each model, whether initial or periodic with an overall assessment of the model to the Executive Risk Committee for models.
• Ensuring models are fit for purpose and develop challenger analysis / models and recommendations.

Purpose of the Role

The Validation Unit assesses all models used across the Group and offers the opportunity to obtain a wide variety of experience to different models supporting relevant processes including new business origination, pricing, capital, market / liquidity risk management.

The successful candidate will be primarily responsible for sourcing and generating validation datasets, analysis and critical review of related data, assessment of model performance and ultimately delivering validation reports on the status of the underlying models.

Key Accountabilities

• To be the analyst in the validation of allocated models working with the team to ensure their adherence to internal Group Standards.
• Data management and analysis of information from various sources.
• Undertake statistical analysis and critical review of same. This includes discrimination, calibration, population stability & sensitivity measures; interpret and report on the results of this analysis.
• As part of the validation activities, ensure active and positive communication exists with the team and with relevant stakeholders involved in the model validation process.
• Produce validation reports for all model validations to a standard appropriate for reporting to internal and external stakeholders.
• Explore new approaches to model validation assessment and experiment with new techniques that could enhance the validation process.

What is the opportunity

We are looking for driven and enthusiastic individuals to join our Model Validation Team, offering an opportunity to learn and be involved in the review/challenger analysis of a wide variety of statistical models and exposure to a wide variety of Group activities.

Working at Bank of Ireland doesn't have to mean working in an office to have an impact. Our commitment to enabling colleagues to thrive means that depending on role type you can have choice and flexibility in where you work and live, subject to your role, customer needs and our requirements. We have a hybrid working model, with home, agile hub and office based options available. We will always list a primary location which can be where you go for in person collaboration, and a location where you can best perform your role.

Please note you must live in the jurisdiction for the business to which you are contracted.

This job can be done anywhere in the ROI with the primary office location as Dublin to which travel will be required for in person collaboration. Exact frequency to be agreed with manager.

Essential Skills & Experience

• Experience in a quantitative discipline and ability to work with datasets.
• Strong Excel skills and knowledge of statistical analysis packages, e.g. SAS.
• Excellent team player with enthusiasm and energy, able to deliver under tight deadlines.
• Good written and verbal communication skills.
• Commercial awareness to recognise and analyse issues/consider alternative approaches to achieve appropriate outcomes.

Desirable Qualifications & Experience

Third level qualification in mathematics, statistics, science, economics or similar discipline involving significant numerical modules.

Key Competencies

• Manage Risk - Self
• Customer Focused - Self
• One Group, one team - Self
• Accountable - Self
• Champion Transformation - Self

Where Agency assistance is required Bank of Ireland Recruitment Team will engage directly with suppliers. Unsolicited CVs / profiles supplied to Bank of Ireland by Recruitment Agencies will not be accepted for this role.

Bank of Ireland Group is an equal opportunities employer and is committed to fostering an inclusive workplace which values and benefits from the diversity of our workforce.

Closing date: Sep 22, 2021

For further information, and to apply, please visit our website via the “Apply” button below.