SMBC: A trusted partner for the long term
Here at SMBC Group, we want to help you find the next step in your career so read on to discover if this opportunity is the one for you. We like to recognise potential in our people, so we welcome your application even when your experience doesn’t perfectly align with the job description. Whilst we’ll always strive to be better, we’re proud of our inclusive culture, and encourage our applicants and colleagues to be their authentic, unique selves.
Who we are
United by a sense of purpose towards our customers – to be a trusted partner for the long-term – and our universal banking platform in EMEA, SMBC Group has an international growth agenda and award-winning products, meaning we provide exciting opportunities to work on a diverse range of projects and initiatives. We deliver a full suite of corporate finance products and solutions to our customers as well as investment banking and advisory services, and a range of innovative solutions in global capital markets. Read on to find out how you could enhance your skills and gain valuable experience, by joining us to support our clients transition to a sustainable future.
Role Summary
Is the next step in your career at SMBC Group EMEA? We’re looking for a Model Risk Management Specialist (m/f/d) for our Risk Management Department to join our team.
SMBC Bank EU AG has been established as a new subsidiary of SMBC in Germany to mitigate the impact of BREXIT and the loss of the European passport. It is a German incorporated legal entity operating under a German Banking licence supervised by BaFin.
SMBC Bank EU AG has a dedicated risk management team in charge of designing, implementing, developing and maintaining the Bank’s risk management framework across the entity (enterprise risk) and the various risk types to which the entity is exposed. The risk management team of the Bank is supported in this task by staff of SMBC BI, and the wider RMD EMEA group under a Service Level Agreement.
Model Risk Management (MRM) plays a crucial role in ensuring the integrity and reliability of models used across an organisation. The role is responsible for establishing, implementing, and maintaining a comprehensive MRM framework that effectively manages the risks associated with the use of models in various business processes. This framework is designed to ensure that models are robust, reliable, and fit for their intended purpose.
Business Area
Position Description
The jobholder primary tasks are as follows:
Support with the execution of the model risk management framework of the Bank by:
* Supporting the maintenance, monitoring and reporting of the Model Risk Appetite Framework, ensuring that model risks are aligned with the firm’s overall risk tolerance and strategic goals.
* Assisting with the preparation and running the model risk management committee for the review of models used in SMBC EU
* Assisting with the generation, update and maintenance of relevant procedures, policies, standards.
* Working in close partnership with SMBC EU model owners, supervisors and users and key point of contact on model governance topics.
* Supporting with the management and maintenance of the Model Inventory, Model Findings and Model Assessments
* Supporting with the management of validation, internal and external audit, and regulatory findings to relevant stakeholder including the tracking of the status of action plans related to these findings, ensuring timely remediation and communication of progress.
* Supporting the review, assessment and if necessary design together with other entities the independent validation standards to be used by the independent validator (either internal via SLA and / or external);
* Supporting with conducting reviews of model validations (as deemed necessary), ensuring adherence to internal and external standards.
* If necessary in exceptional cases, to perform independent validation tasks on certain less critical models.
* Assist in the coordination of the work, manages and directs the delivery of services by SMBC BI’s staff and other group entities (Model Risk Validation Group in NY) under the risk outsourcing agreement.
Knowledge, Skills, Experience & Qualifications
Essential Technical Experience
* Strong knowledge of mathematical modelling techniques used for risk modelling in general including stress testing;
* Strong quantitative and modelling skills to assess and if needed perform model validation and testing techniques;
* Strong understanding of regulatory requirements and expectations in terms of model risk management;
* International profile
Essential Technical Competencies (skills and knowledge)
* Strong knowledge of mathematical techniques
* Strong knowledge of model risk management requirements and techniques, in particular in terms of model validation and testing;
* Good knowledge of risk modelling and data management tools
* Understanding of the regulation relating to risk (MaRisk, ECB, EBA)
Other Essential Information
* Educated to degree level
* Ability to build strong working relationships
* Strong communication skills
* Culturally aware
* Demonstrable track record in stakeholder management
Competencies
Customer Focus
Driving Change
Driving Results
Embraces Diversity
Enterprise Leadership
Judgement and Decision Making
Risk Management
Strategic and Visionary
Trust and Integrity
What we offer
For all the expertise and experience you bring to help us make a difference, it’s only sustainable if we support you to build your career and be your best self so we offer competitive company benefits, centred around promoting positive well-bring and work-life balance. We also believe in fostering a diverse and inclusive work environment, where all team members perspectives and contributions are valued. Initiatives in place which promote a diverse and inclusive culture and healthy work life balance include hybrid working, Sport & Social Clubs and Diversity and Inclusion networks.
As an employee of SMBC you have access to a host of both useful and exciting benefit offerings. See below some of the benefits on offer to you:
* Hybrid and flexible working
* Competitive paid leave days
* Benefits to support your physical wellbeing, including private medical insurance and life and invalidity insurance
* Various policies to support your mental wellbeing, including a robust behavioural health network with counselling and coaching services
* Access a wide range of learning and development opportunities and career progression opportunities
* Ambitious remuneration package
So, if you like a challenge and want to continuously grow and develop in a role where you will be supported along the way by a dynamic and diverse team, apply today!!
We recognise our role as a bank to support social change and welcome all applications, including those from groups often under-represented in financial services. We value the uniqueness of professional and personal, backgrounds and perspectives as they play a vital role in continuing the sustainable growth of our organisation. We’ll ensure reasonable adjustments to our recruitment process are offered due to a disability or long-term condition whenever requested.