Head Model Risk/Validation at Absa

The Job Summary:

The Monitoring Team within the Absa Model Risk Centre of Excellence is a group level function that covers all models used across Absa. A wide range of models is covered (Regulatory Capital, Impairments, Behavioural scorecards, Application scorecards and Credit decisioning) and products across all of Absa’s business units are included. In order to ensure the independence of the Monitoring Team and allow the Independent Validation Unit to rely on the analyses performed by the Monitoring Team, the Team will report to the Head of the Independent Validation Unit. The incumbent will lead the Monitoring Team within the Absa Model Risk Centre of Excellence. The incumbent will develop and maintain the monitoring process and framework for Absa, be accountable for the deliverables of the team, manage relationship with various senior stakeholders inside and outside Absa to develop common understanding and appreciation of the Monitoring Team’s activities, facilitate personal and professional development of staff within the team and manage the overall monitoring schedule of work. The incumbent will also offer technical and regulatory/best-practice guidance to the team and Absa stakeholders as a subject matter expert.    

The incumbent will: Effectively manage model risk and drive regulators globally to ensure that banks have appropriate procedures in place to mitigate and manage model risk. The regulatory focus, as well as a strong senior management commitment, ensures that the function remains influential and key to business within Absa. Develop an excellent understanding of the Bank, its models and how these impact the business objectives. Work closely with the Independent Validation Unit, as the monitoring analyses constitute critical inputs into the periodic validation process. Ensure that the function remains influential and key to business within Absa.

Accountability Model Monitoring 50%

• Assist with the formulation of the Model Monitoring framework and ensure the effective implementation thereof.
• Ensure the relevant policies and frameworks are effectively implemented and complied with.
• Formulate and drive the achievement of key objectives of the team.
• Intervene effectively where staff are not achieving key objectives (technical, deliverables, behavioural, development, etc.).
• Manage the monitoring capability and staff matters, including workforce and recruitment demand planning, recruitment, talent management and succession planning, mentoring and coaching, management of discipline and grievances, performance development, reward and recognition management, training and professional and personal development of staff
• Offer technical and professional guidance to staff as a subject matter expert.
• Ensure quality and timeous delivery of the scheduled monitoring packs through planning, communication, guidance, review and driving professional accountability at individual analyst level. Ensure the monitoring packs are fit for consumption and understood by the stakeholders.
• Support staff in meeting to discuss monitoring packs with various stakeholders
• Drive the technical, business and soft skills development of junior staff.
• Review and approve monitoring reports as per the required scheduled timelines and to the required level of quality.
• Be involved in regular knowledge share sessions facilitated by the Model Risk Centre of Excellence Team.
• Maintain a professional relationship with all stakeholders and develop an effective network at your level
• Ensure all staff members maintain a professional relationship with all stakeholders
• Represent the Monitoring Team at various Absa internal and industry external committees.

Accountability Stakeholder and relationship management 20%

• Lead by example in building strong internal and external relationships, displaying excellent abilities to initiate strategic dialogue and listen, advise, influence, negotiate and present at different levels
• Establish and nurture influential relationships with a wide network within the group.
• Build strong relationships across the organisation in order to identify synergies and optimally leverage relationships, knowledge, services and resources to provide superior solutions.
• Engage, present and hold meaningful discussions with the regulator when required and proactively provide timely and accurate feedback to adhoc queries from the regulator.

Accountability: People Management 30%

Together with the Head of IVU and People Partner assist with people management functions of the validation unit, including but not limited to: workforce and recruitment demand planning recruitment talent management and succession planning mentoring and coaching management of discipline and grievances performance development reward and recognition management training and development professional and personal development of staff

Education and experience required

• At least an Honours degree (NQF no. 7) in statistics, econometrics or other quantitative fields. Higher degree will be an advantage
• Minimum 8 years of relevant experience in risk modelling, risk model validation and/or risk analytics
• A technical subject matter expert
• Previous team and project management experience.
• Extensive knowledge of regulatory / auditing regimes and processes.
• Experience in regulatory and/or external stakeholder communications and interactions.