Head of Validation

Employer
Location
Dublin, Ireland
Salary
Competitive
Posted
Dec 06, 2017
Closes
Jan 06, 2018
Ref
8104999
Contract Type
Full Time
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of Risk, increases Risk awareness and improves the management of Risk throughout the Group. This includes anticipating and avoiding threats and losses as well as identifying and realising opportunities. Risk Assurance is one of the four Units within Enterprise Risk Management and is responsible for overseeing risk assurance in the Group. It is responsible for the development and implementation of risk assurance standards, ensuring appropriate risk assurance coverage, carrying out specified assurance activities and reporting to provide assurance to senior management and board on the effectiveness and robustness of the Group`s risk management frameworks, policies and procedures. Purpose of the Role The role is responsible for leading the Group`s Independent Validation Unit (`IVU`) and in giving effect to the validation requirements of the Group`s Model Risk Framework in respect of Tier 1, 2 and 3 models. The IVU is responsible for validating IRB models (PD, LGD and EAD), the broader suite of Non IRB models (e.g. Stress testing, provisioning/IFRS 9) in line with the Group`s Model Risk Policy and Standards Key Responsibilities Develop and grow the validation team to ensure that the requirements of the relevant Group Policies and Guidelines are met Lead the effective communication of team outputs to both technical and non-technical audiences, in association with the measurement and technical experts on the team, in a way that is consistent across activities, having regard to differences due to policy or regulatory approach. Delivery of key outputs and recommendations to internal model validation and other risk fora. Develop and maintain model validation and credit capital assurance standards on line with industry best practice. Develop and maintain effective working relationships with stakeholders (Business Units, model developers, senior management) Maintain and demonstrate a position of independence Manage the teams of quantitative risk specialists to ensure the successful delivery of team goals and optimal team performance including the delivery of synergies across different types and standards of model validation Develop the team to become a centre of excellence in relation to model validation, ensuring that the team/function compares favourably with peer banks. Engage and liaise with internal / external audit and regulators, as required Essential Qualifications 10 years` experience within a Risk function, with at least 5 years specialising in quantitative risk modelling and/or validation techniques Strong quantitative skills andexcellent academic credentials including a fourth-level qualification in mathematics, risk or statistics Essential Skills & Experience Excellent stakeholder management and communication skills with a track record of stakeholder management and in particular an ability to establish credibility with a diverse stakeholder group by demonstrating commercial acumen, insight, and intellectual rigour Strong people management and leadership skills with an ability to establish and communicate a clear vision and sense of purpose and with sound judgement on policy and operational matters A proven risk and compliance practitioner with an excellent track record in Financial Services and a demonstrable track record of achievement Ability to develop a structured and organised environment to specify and deliver against objectives within prescribed timelines Experience using and interpreting statistical analyses, econometric modelling, and/or regression analysis for business purposes Desirable Qualifications, Skills & Experience Familiarity with the Group`s new Model Risk Framework as approved by GRPC Knowledge and experience of the CRR and of developing, implementing, validating, or using risk models with a deep understanding of modelling for IRB, IFRS9 or Ecap A good understanding of risk operations/policy across the Group and/or industry 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. 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. To apply for this position please click here