Model Risk Monitoring Analyst at Absa Group Limited (Absa)

Job Summary

To provide specialist advice and support in area of specialisation enabling the effective implementation of risk frameworks.

Job Description

• The Monitoring Team within the Absa Model Risk is a Group-level function that covers all models used across Absa. A wide range of models is covered (Regulatory Capital, Impairments, Behavioural scorecards, Application scorecards and Credit decisioning) and products across all of Absa’s business units are included. In order to ensure the independence of the Monitoring Team and allow the Independent Validation Unit to rely on the analyses performed by the Monitoring Team, the Team will report to the Head of the Independent Validation Unit.

The incumbent will:

• Manage Model Risk through timeous and rigorous model monitoring exercises and engagement with the internal stakeholders on the output thereof.
• Develop an excellent understanding of the Bank, its models and how these impact the business objectives.
• Work closely with the Independent Validation Unit, as the monitoring analyses constitute critical inputs into the periodic validation process.
• Ensure that the function remains influential and key to business within Absa

Accountability: Model Monitoring 80%

• Produce monitoring report as per the required scheduled timelines and to the required level of quality.
• Ensure that all information needed for the production of monitoring reports is timeously available.
• Assess the performance of the model and comment on the acceptability thereof.
• Recommend any remedial actions to compensate for any identified model shortcomings.
• Engage with internal and external stakeholders on the outcome of the monitoring process and address their queries.
• Support the validation analysts by providing and clarifying the model performance information needed for the periodic validations.
• Proactively increase technical, business and soft skills through active research.
• Be involved in regular knowledge share sessions facilitated by the Model Risk Function.

Management of Stakeholder Relationships (20%)

• Maintain a professional relationship with all stakeholders. These include, but are not limited to, Model Owners, Model Developers, Model Approvers and Audit.
• Effective communication of model validation findings to all stakeholders.
• Ensure that all concerns are communicated as early as possible and that these concerns are relevant and material.
• Provide sufficient and constructive challenge to proposed concepts and ideas.

Education

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

Closing Date: 24th, March 2022