Posted:
8/13/2024, 5:00:00 PM
Location(s):
New South Wales, Australia ⋅ Sydney, New South Wales, Australia
Experience Level(s):
Senior
Field(s):
Business & Strategy
You are an enthusiastic individual with demonstrated capability in Model Validation.
We are a team of values-driven Risk Management professionals, striving to improve CBA’s overall risk posture.
Together we can lead the delivery of world-class data, analytics and risk management capabilities to ensure CBA is primed for success.
10 month Fixed Term Contract
See yourself in our team:
The Model Risk Validation (MRV) team team provides assurance and oversight of models across the group. The team leads and conducts validation of the Group’s models, based on internal policy and procedures, regulatory guidance, and the industry’s best practices.
The team also influences the technology, data and validation strategies through active engagement with Business Units (BU’s) and executive level stakeholders across the group.
On a day-to-day basis, you will:
Model Validation: Lead multiple independent validation activities for models and quantitative tools developed for non-traded market risk i.e. Interest Rate Risk in the Banking Book (IRRRBB) where the models are used for: regulatory capital calculations (APS 117); measuring limits against the Group risk appetite; and for stress testing.
Accountability: Represent Model Risk Validation team at project advisory groups and coordinate with other leaders in the MRV team. Maintain the Group Model Register for IRRBB models. Contribute to the broader validation strategy including clarity with respect to validation methodology, appropriate governance and model risk policy compliance.
Stakeholder Management: Effectively presenting the results of validation work and business implications to internal working groups, technical forums, governance committees or regulatory meetings. Proactively address and respond in a timely manner to developer, audit and regulatory queries and/or issues pertaining to models. Maintain sound relationship with development team BU risk teams and other stakeholders.
Documentation: Thoroughly documenting the validation report, and appropriately challenging the modelling results and the thought process around the choice of modelling methodology, to enable stakeholders to understand the strength and weakness of the final model and assess its impact.
Business Impact: Evaluating model implementation challenges, including assessment of the business impact of new or updated models on risk measures or processes. Review the Fit-for-purpose validation.
We are interested in hearing from people who have:
Please note that we are interested in hearing from people who might not meet all the following criteria. We’re open to working with the right candidate to fill any skill gaps during your journey at CommBank.
Proven model risk governance experience.
Experience of model valuation for non-traded market risk (IRRBB).
Advanced numerical, mathematical, statistical, derivative pricing and programming skills gained either via tertiary education or experience with model validation work.
Ability to negotiate with internal stakeholders across Business Units, Risk, Technology and Audit.
Experience of report writing for committees and to support letters to APRA.
If this sounds like you, please apply now!
If you're already part of the Commonwealth Bank Group (including Bankwest, x15ventures), you'll need to apply through Sidekick to submit a valid application. We’re keen to support you with the next step in your career.
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Website: https://commbank.com.au/
Headquarter Location: Sydney, New South Wales, Australia
Employee Count: 10001+
Year Founded: 1911
Last Funding Type: Post-IPO Debt
Industries: Banking ⋅ Finance ⋅ Financial Services ⋅ Wealth Management