Job Description

OVERALL SUMMARY
At Close Brothers we look to recruit individuals from all different backgrounds and encourage you to apply even if you don't tick every box. We celebrate diversity, promote inclusivity and are open to discuss flexible work options to help you balance your work and home life.
Join Close Brothers Central Risk Team as a Model Validation Senior Analyst where you will support and execute delivery of the Model Risk validation objectives within the Model Risk management team.
Our ideal candidate will have Hands-on experience in technical model development and implementation, model validation, and/or model oversight in one or more of the following areas: credit risk (retail and/or wholesale), PD/LGD/EAD estimations, IFRS9, operational risk, asset & liability management, stress testing, sensitivities, time series modelling.
RESPONSIBILITIES

• To support the implementation of the Group's target state operating model for a second line Model Validation function.
• Ensure that models are fit for purpose in accordance with CBG's strategy and aims.

Perform independent reviews of existing and new models, including but not limited to capital, IFRS9 and pricing models:

• Understand model purpose, the underlying mathematical model, its implementation and its deficiencies. Understand the model behaviour under stress such as applied in capital calculations.
• Undertake rigorous testing to assess comprehensiveness of risk representation, suitability for intended use, robustness and stability of calibrations, ongoing performance vis-a-vis risk factor and portfolio back testing, and reasonableness of simulations vis-a-vis other distributional tests.
• Apply quantitative and qualitative techniques to model validation, this can include independent implementation of the model.
• Propose solutions to model deficiencies.
• Structure the current state of validation, assurance and approval status of models.
• Aid new modelling by providing coding reviews and proposing model improvements.
• Research statistical techniques to estimate model parameters, including volatilities of risk factors and their correlations, and to validate use of appropriate proxies and fall-back parameters
• Benchmark particular model components such as parameter estimation methods or pricing models to justify against alternative approaches
• Document models, methodologies, analyses, and findings to the Group's standard
• Identify key areas for business assistance and implementation of the Group models
• Review and provide guidance on existing and to-be developed model documentation
• Keep up-to-date on regulatory changes, quantitative techniques, and industry practices
• Ensure that all Governance and Compliance requirements are adhered to and all reporting and reviewing activities required by the Regulatory Bodies are carried out to the standards required
• Behave at all times in line with Close Brothers 'Vision and Values'

WE WOULD LOVE TO HEAR FROM YOU IF YOU HAVE:

• Experience in modelling and/or validation for corporate, retail, wholesale banking portfolios with a financial services organization, consulting firm, or analytic solutions provider.
• Previous experience of interpreting technical documentation and producing written reports which convey technical information in an accessible manner, targeted to specific audiences.
• Ability to conduct statistical analysis in a coding environment (e.g. SAS, Excel, R, Matlab, Python)
• Strong analytical skills with great attention to details, strong control mind-set with interest in investigating issues and develop solutions.
• Good written and verbal communication & presentation skills
• Sound knowledge of regulatory compliance requirements.
• Good interpersonal skills and a team player, proactive and self-motivated.

IT IS NOT ESSENTIAL BUT IT WOULD BE GREAT IF YOU HAVE:

• Some Industry certifications but is not essential (e.g. FRM, CFA, SAS).

We are an inclusive organisation and committed to ensuring our recruitment process is as accessible as possible to everyone. We will make adjustments for people who have a disability or long-term condition. If you need the job description or application form in an alternative format or would like to discuss the recruitment process with us, please email us at or request a call back.
ABOUT US
At Close Brothers we support employees to balance their work life priorities and in this role you will be able to enjoy a mixture of hybrid working.
Close Brothers is a leading UK merchant banking group providing lending, deposit taking and securities trading. We employ approximately 3,000 people, principally in the United Kingdom and Ireland. Close Brothers Group plc is listed on the London Stock Exchange and is a constituent of the FTSE 250.
To find out more about Close Brothers, please visit our careers page:
To find out more about life at Close Brothers:
To find out more about our benefits:
To find out more about our commitment to creating an inclusive environment:
At Close Brothers Group, we are all connected by our mission to be the best place in the UK for wealth professionals and their clients.
We believe that everyone should think ahead, have a financial plan and invest wisely. Our clients are professionals, business owners, individuals, charities, families, and employers, who rely on our clear financial advice and investment management services to preserve and grow their long-term savings and investments.
We are a team of about 900 people based in 15 offices across the UK. Our geographic footprint means we can combine a local approach with face-to-face services to enable strong, long-term relationships with our clients.
Sustainability is fundamental to our purpose and we have a responsibility to help address the social, economic and environmental challenges facing our business, colleagues and clients. We strive to do the right thing and are dedicated to helping the charities that matter most to our people.
Our vision is to develop an open and inclusive company that ensures everyone is valued, respected and included, so that in years to come our business will represent a diverse and inclusive workforce from the top down.
We look to recruit individuals from all different backgrounds. If this job is of interest to you but you do not meet every criteria then we encourage you still to apply as we are open to providing training opportunities. As an early adopter of hybrid working we are open to discussing all types of flexible working options, helping you to balance your work and home life.