RBS - Model Validation Analyst

About Royal Bank of Scotland

We have been in India since 1921. With our in-depth local market knowledge coupled with our global network, we meet our clients- needs by bringing together capabilities including debt capital markets, international transaction services, FX and rates as well as providing balance sheet advisory and structuring. Our clients comprise blue-chip Indian corporations, leading multinational corporations, large financial institutions, the Indian Government and high net-worth Individuals. Using our global reach and drawing on the expertise of our local teams of professionals, we have led many of the biggest and most innovative landmark transactions in India for our corporate and institutional clients.

Within RBS, Risk Hub India (RHI) supports all global risk function teams in EMEA, APAC and North America. The division, established in Q3, 2011 has now grown to ~300 employees. This team both leads and supports the activities of all the Risk verticals, providing specialised analytics and models, data, controls and reporting processes. We continue to deliver our priorities by building a robust, sustainable risk environment and optimising our value through improvement activities and innovation. In addition we are building the next generation of leaders through our people agenda, with an objective of delivering best outcomes for customers, partners and stakeholders.

Organisation unit

Model Risk Management, Risk Assurance Centre of Excellence

Reports to

Head of Model Risk Framework

Location Gurgaon

Responsibilities

- Works closely with the external vendor (Empowered Ltd) and owners (Services representatives) of the RBS Model Inventory Tool (MInT).

- Becomes an expert user of MInT and learns how to carry out day-to-day maintenance of MInT.

- Supports all users of MInT by running the help-desk, providing user training where appropriate and developing and maintaining the user manuals.

- Develops the RBS Model Inventory Tool (MInT) so that it can capture and keep up-to-date: i) an aggregated bank-wide model inventory through the Model Risk Assessments, ii) mandatory procedures and iii) risk appetite statements.

- Assists with the development of MInT for areas of the bank (e.g. Finance) looking to use MInT as a model governance workflow tool.

- Develops MInT so that it assists with monitoring and assessment of the aggregate level of Model Risk and whether it fits within the Bank's appetite;

- Assists with the production of information, papers and presentations for Regulators, Senior Management, Internal Auditors and External Auditors.

- Supporting all teams within Model Risk Management with regards to deliverables that are required in relation to governance, policy and regulatory requirements.

- Providing governance support for material models (MRC, TRMC, MPRCs etc.), issues- management, MRM admin support, management of model risk related ORBIT and GNEP issues etc.

Key relationships and interactions:

- Communicates with Empowered Ltd. Services representatives (MInT Owner), Head of Model Risk, Model Risk Team Leaders, model owners and developers, users- representatives, auditors etc..

- People management accountabilities: N/A.

Purpose of Role :

Assists with all aspects relating to developing, maintaining and improving the RBS Model Inventory Tool, a key element of the model risk framework that facilitates the identification, assessment, mitigation, monitoring and reporting of model risks, to ensure residual model risk remains within the bank's risk appetite.

Mandatory Risk & Conduct Accountabilities applicable to all roles:

2nd line of defence: Management & Supervision

Actively consider the inherent, material risks of the bank. Analyse the risk profile and seek confirmation that the risks are being appropriately identified, assessed and mitigated to the desirable level (Risk Appetite). Establish and deploy robust risk and control frameworks which meet the strategic needs of the bank, including communication, training and awareness. Provide expert support and advice to stakeholders on risk management; this includes interpreting and complying with risk policies and related standards. Conduct suitable assurance to ensure 1st line compliance with policies/responsibilities. Provide senior executive with relevant management information and reports. Escalate concerns where appropriate.

Conduct:

Proactively identify. and effectively manage and/or escalate, conduct risk, in order to deliver key customer outcomes.

Comply with all RBS policies, and deliver against statutory, regulatory, supervisory, and legal obligations.

Skills, knowledge and experience needed to do the role

Essential

Experience in developing a vendor IT tool, including providing guidance and running a help-desk for the tool's users.

Experience in communicating with senior management, and of developing constructive relationships with a range of different internal and external stakeholders.

Prior project management/ team work experience with a demonstrated ability to establish a clear direction / roadmap, set and track objectives, and work closely with senior team members to deliver outcomes consistent with industry leading practices.

Proven ability to manage workload to meet deadlines.

Skills in Microsoft products (Excel, Word, PowerPoint).

Understanding of Risk and Model Risk framework and its role in a financial organisation.

Desirable

Broad experience of the range of model types covered by the team.