Head of Models & Analytics Retail Credit Risk, ARO at Absa Group Limited (Absa)

Job Summary

• This role is a critical risk leadership role within ARO Retail & Business Banking (RBB). The role is instrumental in shaping the strategic direction of risk modelling, risk modelling capabilities and model risk management within the business unit. The role requires the incumbent to be a strong communicator and an adept stakeholder manger in order to articulate a clear risk story to a complex stakeholder network comprising of Group Risk, the multi-country risk teams, validators, auditors and regulators. Additionally, the incumbent will serve as a model risk subject matter expert in the business unit and advisor to the Chief Risk Officer (CRO ARO) and Country Risk teams, chair the business unit’s model forums as well as represent the business unit at model risk related Group forums.

Job Description

This role is a critical risk leadership role within ARO Retail & Business Banking (RBB). The role is instrumental in shaping the strategic direction of risk modelling, risk modelling capabilities and model risk management within the business unit. The role requires the incumbent to be a strong communicator and an adept stakeholder manger in order to articulate a clear risk story to a complex stakeholder network comprising of Group Risk, the multi-country risk teams, validators, auditors and regulators.  Additionally, the incumbent will serve as a model risk subject matter expert in the business unit and advisor to the Chief Risk Officer (CRO ARO) and Country Risk teams, chair the business unit’s model forums as well as represent the business unit at model risk related Group forums.

•  Provide thought leadership in analytical or modelling methodologies used in credit sanctioning, impairments, capital management and the Group’s planning processing to ensure such methodologies are fit for purpose.  Actively manage    and communicate  model risk across the model lifecycle for 9 countries across ARO into the Business Unit, Group Committees and external stakeholders,
• Key contributor to the development of technical standards and approaches adopted to estimate Impairment and Capital requirements for Retail Credit Risk and operationalisation.
• Ensure new products, customer relief programs, loan restructure programs and model modifications meet with IFRS 9 standards, SARB regulatory guidelines, the Group’s risk and technical accounting policies.
• Review and challenge the non-model ECL estimate that arises from troubled single names or sectors.
• Review and challenge the use of overlays (both management and technical model adjustments).
• Review and challenge the country’s bottom-up impairment forecasts that  inform the Group’s MTP process.
• Continuously keep abreast with changes from accounting bodies and regulators to ensure those changes are interpreted and implemented with collaboration with other centre support areas. 
• Defining and maintaining appropriate control processes and sign off of these financial controls for all items within own accountabilities as well as contributing to improving the control environment for retail credit risk.
• Triangulate approaches to /measurements for impairment, stress testing, capital and risk appetite to ensure alignment and consistency.
• Lead the Model development and the  Portfolio Analytics teams.
• Plan, design and resource model development activities to ensure model development capabilities are fit for purpose.
• Develop, maintain and communicate the model and analytics related book of work.
• Lead model risk management in the Business unit and ensure adherence to Group’s model risk and model implementation policies.
• Ensure the Groups model inventory and model documentation are informed and maintained.
• Management and closure of all internal validation units, internal audit and external audit findings related to model risk management.
• Actively manage resourcing for model implementation and validation to keep model owners abreast of delivery timelines.
• Drive ownership of models, analytical strategies into each of the country teams as well as relevant centre colleagues.
• As a sme, recommend required capability and motivate for required resources (own or others) to develop and implement models in the business unit.
• Manage credit technical aspects (ECL calculations and related models ) of the internal and external audit engagements.
• Additionally build out key stakeholder (internal and external) communications and reporting across model risk activity within the ARO retail modelling portfolio.
• Ability to manage a large contingent contractor workforce.
• Ability to keep abreast of macro and operating environments across multiple geographies.
• Build a trust advisor relationship with country CROs/CDDs as well as Group finance on matters related to ECL technical calculations and model technical matters.

The role operates in the space where Risk, Finance Business and Treasury meet and as such is a highly complex and technical role.It is a key relationship role with the individual Retail businesses and ABSA Group Risk, as well as to the Finance function in communicating capital and impairment trends and performance within risk appetite. It is also central in communicating to and engaging with internal senior management (Group Risk, BU CEOs / CFOs) regarding impairments, capital and stress testing as well as with External Audit.

Role / Person Specification 

Education and Experience Required 

• Bsc-degree Honours or B.Com Honours. MBA or a related NQF Level 9 equivalent qualification a strong advantage.
• (10+) years’ experience in the Banking sector which must include proven experience, preferably with international exposure and having worked in multiple locations/ countries. 
• (10) years’ experience in managing a large Control or Operations environment. 
• (8) years’ experience on a senior management level in a large corporate.  

Knowledge & Skills:

• Technical knowledge of IFRS 9 ECL calculations and standards, stress testing in banking environment, model development, model risk measurement,  capital (Regulatory & Economic) calculations. 
• Communication skill and  ability to influence senior stakeholders and build strong partnerships.  
• Proven leadership. 
• People management experience and ability to develop a high-performing team   
• Knowledge of Retail Banking  
• Excellent understanding of mobile and  retail  risk  and controls management  
• Technical knowledge of model development and implementation across the credit life cycle  

Competencies: 

• ​​Analysing​ 
• ​​Adapting and responding to change​ 
• ​​Coping with pressures and setbacks​ 
• ​​Formulating strategies and concepts​ 
• ​​Deciding and initiating action​ 
• ​​Delivering results and meeting customer expectations​ 
• ​​Leading and supervising​ 
• ​​Working with people​ 

Education

• Bachelor Honours Degree: Business, Commerce and Management Studies (Required)