JOB SUMMARY
The role holder will be a part of the MRPG team in Bangalore, India and support the Risk function to ensure Group Model Risk Policy (GMRP) and Group Model Risk Standards (GMRP) are adhered to, and regulatory compliance activities are established and well managed. The role holder will provide support for the effective administration of the Group Model Inventory tool (GAME – Global Model Analytics Explorer), Group DQMs Inventory tool (Model Risk Management System) and Control Framework Documents (RTFs, policies, standards). The role holder will actively provide support to continuously improve the operational efficiency and effectiveness of the Model Risk Management processes.

RESPONSIBILITIES

Maintain Frameworks, Policies, and Standards
•    Support the periodic review and maintenance of Model Risk RTF, Group Model Risk Policy (GMRP), Group Model Risk Standard (GMRS), Group Deterministic Quantitative Methods (DQM) Standards, and Model Family Standards (MFS). This includes initiating periodic reviews, managing stakeholder consultations, thematic reviews and supporting the final incorporation of changes to the documents.
•    Provide ongoing support for the implementation of RCSA controls (operational risk controls, control tests, key control indicators for policy compliance) and residual risk assessments across the assigned model families.
•    Support the effectiveness reviews performed for the RTF, policy, and standards. Manage the periodic policy compliance assessments for the assigned model families to ensure adherence to the GMRP.

Oversight Reporting
•    Prepare monthly and quarterly model risk information reports, oversight reports, Data Quality (DQ) items report and any other ad-hoc reports as required. This includes engagement with stakeholders for inputs and review/ challenge of progress updates provided by stakeholders against timelines.
•    Act as the primary point of contact for the assigned model families within MRPG. Provide inputs and manage queries specific to these model families as a part of the various oversight and reporting activities 
•    Identify, review and track model risk issues and ensure that these are reported to senior management with remediation plans in place and are tracked to completion.
•    Provide oversight on various Data quality (DQ) items related to Inventory via DQ item Dashboard and ensure that these are managed by relevant stakeholders with periodic follow-ups to bring them to closure.

Governance
•    Support the SS1/23 roll out for the assigned model families by ensuring the Group DQM Standards is adhered to.
•    Ensure that outcomes delivered, including necessary controls are fit for purpose and meet regulatory requirements and ensure the Bank’s risk governance disciplines are adhered with.
•    Support through awareness and understanding of the regulatory framework (specifically FED SR 11/7 or PRA SS 3/18, SS1/23) in which the Group operates, and the regulatory requirements and expectations relevant to the role.
•    Oversee changes in the Group’s arrangements to deliver effective governance, oversight, and controls in accordance with model risk governance and risk reporting responsibilities.

SS1/23 roll out and Other Streamlining Initiatives
•    Support the SS1/23 roll out in the assigned model families by actively engaging with the stakeholders and ensuring that the actions as per the Road to Compliance (RTC) is met within the timeline. 
•    Support building of the new model/ DQM inventory tool (Model Risk Management System) by collaborating with the MRMS development team to provide end-to-end support for implementation of various workflows, tasks and functionalities that is aligned to the industry standards.

•    Support stakeholders of the assigned model families to roll out various SS1/23 requirements.
•    Support GAME (Model Inventory Platform) and related ashboard enhancements by actively engaging in the implementation of its functionalities, as required . Collaborate with GAME development team to provide end-to-end support for implementation of various functionalities and workflow that is aligned to the industry standards.
•    Support the efforts to improve and streamline existing processes and contribute to building standard templates, procedures, and practices to provide an efficient oversight to the model life cycle, as required. 

Regulatory Analysis and Updates
•    Coordinate and provide periodic updates to senior management on upcoming regulatory changes/ submissions and its impact on the functioning of MRM frameworks.
•    Support the coordination of regulatory capital analysis, consultations, responses impacting risk models, policies, and processes for the ERM function.
•    Support regulatory and/ or internal compliance attestation activities within the function.

Key Stakeholders
•    Model Risk Management Team
•    Members of ERM Management Team
•    Model Owners, Model Sponsors and Global Process Owners
•    Group Model Validation
•    Country CRO, RFO, Governance teams
•    Internal Audit – Functions
•    Owners of relevant regulatory obligations

•    Risk Framework Owners and Policy Owners
•    Country CRO, REO, Governance teams
•    Regional CRO and governance teams
•    Group Operational Risk, Group COO and other business COOs

Our Ideal Candidate

•    8-12 years of total experience with minimum 4-5 years of experience in Model Risk Management, Credit Risk Models and Regulations from leading financial regulators in the UK and Europe (e.g. PRA, EBA, etc.)
•    Good understanding of IBR and IFRS9 models, and credit risk scorecards
•    Good communicator, in particular written communications in English
•    Ability to explain complex matters in simple and intuitive terms
•    Ability to track and report progress updates of multiple areas against milestones and highlight key issues
•    Collaborative; working as part of a broader team to ensure a coordinated and consistent approach
•    Good organiser of incoming requests within the team
•    Ability to work with minimal direction
•    Demonstrate understanding of and commitment to the Group's core values.
•    Ownership mindset, able to think creatively and be open to new ideas
•    Able to work with tight deadlines and multiple demands
•    Attention to detail
•    Proactive, problem-solving, helpful
•    Strong experience in MS Outlook, Word, Excel, Power Point, and preferably Atlassian JIRA

About Standard Chartered

We're an international bank, nimble enough to act, big enough for impact. For more than 170 years, we've worked to make a positive difference for our clients, communities, and each other. We question the status quo, love a challenge and enjoy finding new opportunities to grow and do better than before. If you're looking for a career with purpose and you want to work for a bank making a difference, we want to hear from you. You can count on us to celebrate your unique talents and we can't wait to see the talents you can bring us.

Our purpose, to drive commerce and prosperity through our unique diversity, together with our brand promise, to be here for good are achieved by how we each live our valued behaviours. When you work with us, you'll see how we value difference and advocate inclusion.

Together we:

• Do the right thing and are assertive, challenge one another, and live with integrity, while putting the client at the heart of what we do
• Never settle, continuously striving to improve and innovate, keeping things simple and learning from doing well, and not so well
• Are better together, we can be ourselves, be inclusive, see more good in others, and work collectively to build for the long term

What we offer

In line with our Fair Pay Charter, we offer a competitive salary and benefits to support your mental, physical, financial and social wellbeing.

• Core bank funding for retirement savings, medical and life insurance, with flexible and voluntary benefits available in some locations.
• Time-off including annual leave, parental/maternity (20 weeks), sabbatical (12 months maximum) and volunteering leave (3 days), along with minimum global standards for annual and public holiday, which is combined to 30 days minimum.
• Flexible working options based around home and office locations, with flexible working patterns.
• Proactive wellbeing support through Unmind, a market-leading digital wellbeing platform, development courses for resilience and other human skills, global Employee Assistance Programme, sick leave, mental health first-aiders and all sorts of self-help toolkits
• A continuous learning culture to support your growth, with opportunities to reskill and upskill and access to physical, virtual and digital learning.
• Being part of an inclusive and values driven organisation, one that embraces and celebrates our unique diversity, across our teams, business functions and geographies - everyone feels respected and can realise their full potential.