Senior Manager - Model data and implementation validation

£105,400 - £124,000 + benefits
10 Jun 2023
15 Jul 2023
Contract Type

End date
Saturday 15 July 2023

Salary range
£105,400 - £124,000

Agile Working Options
Job Share; Reduced Hours; Flexibility in when hours are worked; Hybrid Working

Job description

MRAV are responsible for the approval of models within the bank that come under the Group Model Governance Policy. These cover a wide range of model types across the various divisions of the bank, and for all models, there is a need for high standards to ensure that Model Risk is kept within agreed levels. It is the role of MRAV to provide independent challenge and review of all models as part of this process.

In this role your focus will be to help ensure that high standards are maintained in both the control environment and supporting processes for models. This will be achieved through your independent evaluation of first line approaches to Modelling Data, Model Implementation (including testing) and Model Usage. It will be your role to identify areas of improvement and hold a knowledge bank of good practice to share with stakeholders, thereby reducing Model Risk across the bank. The scope of your remit will be large, potentially covering any model from Retail and Commercial.

Your primary responsibility, based on significant interaction with internal stakeholders, is to obtain a clear understanding of the control environment in place, evaluate this, and then summarise in a written independent assessment. In your evaluation, you must be able to form a comprehensive view of the risks within the control environment, and to provide feedback on how the controls and processes could be improved.

You will be expected to have significant experience of handling data including an understanding of data flows and how high data quality is ensured. You will also be expected to have experience of model implementations and associated testing to ensure that models are implemented successfully. Some familiarity with model development is required, but it is NOT essential that you are an experienced model builder

In summary, in this role you will be expected to provide thought leadership on the areas of Data and Implementation in particular, and have a burning desire to ensure that associated risks are minimised in a pragmatic way.

Location is flexible and hybrid. MRAV are also very open to flexible working requests.


Key Accountabilities:

  • Lead independent reviews of the Broader Model Elements of Lloyds Banking Group models, including new developments, model changes, and periodic validations.
  • Independent Validation of first line activities, with emphasis on ensuring code is written and documented to a high standard (including partial or full recoding) and providing an independent assessment of data quality.
  • Detailed evaluation of models in respect of: the use of available data sources, data quality, run performance, implementation testing and an overall assessment of the control environment.
  • Documentation of your findings, providing insight and evaluation of weaknesses and making recommendations for improvements
  • Presentation of independent model review to Model Governance Committee or the assigned Personal Approver
  • Maintain knowledge of model risk and regulatory requirements and standards pertaining to risk models
  • Regular engagement with senior colleagues across the Group to manage relationships, influence decision makers and challenge constructively at a senior level


Key Capabilities/ Knowledge:

  • Knowledge of Control Environments: You will be expected to have a good understanding of the control environments and supporting processes under which models in Commercial and/or Retail Credit operate; experience across both areas is preferable but not essential.
  • Qualifications : You'll be highly numerate, with at least a degree level qualification covering quantitative content or equivalent skills derived from experience
  • Data Intelligence : A familiarity with and a deep appreciation of the importance of data quality in model development
  • Coding Experience: Familiarity with a range of coding languages - e.g. C/C++, R, Python, SAS.
  • Evaluation of Model Risk: An appreciation of how the control environment influences model risk and an associated consideration of regulation and wider considerations such as complexity vs benefit, short vs long term trade-offs, and resource prioritisation
  • Systems Experience: Close familiarity with a wide range of data sources and platforms across LBG.
  • Industry Knowledge : A detailed and up-to-date understanding of governance and relevant regulation, including any changes that may impact the Group
  • Business Knowledge : Knowledge of banking business and associated risk management approaches sufficient to understand models in the context of the business
  • Business Partnering : Effective relationship management, delivering successful business partnering whereby constructive challenge is undertaken in a timely and orderly fashion
  • Influence : Ability to communicate and influence on sophisticated issues, verbally and in writing (including model documentation), across all key partner groups
  • Drive and Delivery : Track record of effective delivery and overcoming challenges to deliver business results
  • Integrity: Has ethics and integrity at the heart of every decision, and creates an environment that encourages high performance, openness, honesty and integrity


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