Model Validation Team Leader, SA

Filed under: Kraków | Finanse, Księgowość, Bankowość

State Street Corporation: Across the globe, institutional investors rely on us to help them manage risk, respond to challenges, and drive performance and profitability. We keep our clients at the heart of everything we do, and smart, engaged employees are essential to our continued success.
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At the moment we are looking for candidates for
Model Validation Team Leader, SA
Miejsce pracy: Kraków
Region: małopolskie
Numer ref.: 130366
to join the insource organization supporting the State Street EMEA
Why State Street Bank Poland?
Operating in Europe since 1970 State Street services clients in multiple locations. State Street Bank Poland was first established in 2007 in Kraków. Today State Street Bank Poland employs over 2500 staff members at three sites across the city and will now open a new office in Gdańsk. This will offer multiple opportunities to gain experience in diverse areas of the investment fund cycle as our Poland branch provides investment fund accounting and related services to clients of multiple State Street locations and business units across Europe. We offer positions in a challenging, rapidly changing and international environment. State Street offers a significant scope for personal growth and career progression. Throughout your career at State Street you will be provided with a wide range of training opportunities and internal mobility options as well as individual development plans, attractive benefits (including Employee Savings Plan) and an excellent remuneration package. The continuous development of our employees from day one is critical as we continually seek to develop and expand the local management team and create future leaders from within.
Job Description:
Job description:
The Model Validation Poland Lead will report to the head of model validation at the banks US headquarter, and be responsible of leading the Poland team to support the US validation team to conduct model validation activities. The Poland team will cover the models used at the bank to make business and operating decisionsmost notably regulatory and economic capital models, as well as insuring the implementation of Model Risk Governance Program guidelines and requirements. These models are in areas including wholesale credit risk (e.g., probability of default, loss given default, exposure measurement, and loan loss reserving); market risk (e.g., daily value at risk pricing models, counterparty credit risk, Asset Liability Management risk, and terms structure models); and operational risk.
JOB QUALIFICATIONS:
Build a team in Poland with approximately 10 members in 2015/2016 under the supervision of the head of model validation, and support the US validation team to conduct model validation activities
Lead the Poland team to ensure model risks are correctly identified, assessed, and captured:
Assessing model theory and model assumptions as well as considering model methods and potential options.
Testing and confirming model results by using documented procedures for running the model(s).
Reviewing code documentation for proper model implementation, including the possible simulation of results.
Working with data validation members and information technology professionals to determine model data integrity.
Performing model validation processes and performing independent model validation of significant models.
Assessing the stability and robustness of models by conducting backtesting, sensitivity testing, and stress testing.
Making recommendations and suggesting improvements related to the applicability of the different models assessed in meeting their objectives.
Ensure compliance with the regulatory (SR11-7) and State Street quality requirements for model risk.
Deliver the validation findings via management presentations and regular reports.
Communicate with onsite validators, model developers and business to relay the issues and feedback and capture the action plans.
Ensure quality checks and controls including standardization of assessments and dissemination of feedback across team members.
Qualifications:
Basic Qualifications:
Experience in independent model validation of risk/financial models in banking industry.
PhD in related disciplines or Master degree with extensive business knowledge and strong technical skills (e.g. Statistics, Econometrics, Mathematics, Computer Science or Engineering).
1+ years of programming experience with SAS, R, Matlab, C++
Minimum 3 years of experience in risk management in banking/finance industry.
Minimum 3 years of team leader experience in a similar environment
Good communication skills (verbal and written in English).
Ability to execute on competing priorities in a timely manner.
Desired Qualifications:
Hands on experience in model development and/or model validation.
Ability to take initiative and meet deadlines.
To apply to this position, follow the "apply now" link. To locate this position in our application page, please use the KEYWORD search functionality and insert either the State Street Job ID or the Location.
As a first step we ask all candidates to fill out our online application form. Please enclose the CV in English and remember to save this document without any Polish characteristics also in file name.
Job ID: 130366/ Location: Krakow