Internal Audit- Model Risk VP

We are seeking an experienced Vice President to join the Model Risk Audit team within Barclays Internal Audit. The role will be instrumental in leading and delivering the audit validation of self-assessment templates and accompanying submissions for AIRB/FIRB model applications to the Prudential Regulation Authority (PRA). You will provide subject-matter expertise across regulatory model risk, Basel 3.1/CRR requirements, and SS1/23 expectations while ensuring the high-quality assurance of models and regulatory submissions.

Key Responsibilities

• Lead end-to-end audit reviews of AIRB/FIRB model self-assessment templates submitted to the PRA, ensuring completeness, accuracy, and regulatory alignment.
• Provide expert oversight and challenge on model design, performance, governance, and documentation, including credit risk IRB models and associated processes.
• Assess adherence to Basel 3.1, CRR regulatory requirements, and PRA SS1/23 expectations relating to model risk management and IRB submissions.
• Evaluate model lifecycle controls, including development, validation, monitoring, change control, and use.
• Partner with senior stakeholders across Model Development, Model Validation, Model Risk Management, and Regulatory Reporting to ensure robust challenge and effective remediation of issues.
• Produce high-quality audit workpapers, issues, and reports that meet Barclays Internal Audit standards and regulatory expectations.
• Support the annual audit planning process by contributing insights on model risk hot-spots, regulatory changes, and thematic risks.
• Mentor and guide junior team members and contribute to the development of technical capabilities within the Model Risk Audit function.

You may be assessed on key critical skills relevant for success in role, such as risk and controls, change and transformation, business acumen, strategic thinking and digital and technology, as well as job-specific technical skills.

This role will be based in London.

Essential Skills & Experience

• Strong experience in Model Risk Management, Model Development, Model Validation, or Model Audit within a banking or regulatory environment.
• Deep technical knowledge of IRB credit risk models (PD, LGD, EAD, downturn calibrations, risk segmentation, overrides, model performance monitoring).
• Proven understanding of Basel 3.1/CRR requirements, CRR Attestation, and PRA policies (including SS1/23).
• Demonstrated experience in managing complex audits or regulatory submissions with multiple stakeholder groups.
• Strong analytical and problem-solving capabilities with excellent judgement and a risk-based mindset.
• Outstanding written and verbal communication skills, with the ability to influence at senior levels.

Desirable Qualifications

• Advanced degree in a quantitative discipline (Economics, Statistics, Mathematics, Risk, Engineering, or similar).
• Professional certifications (FRM, CFA, CQF) are advantageous.
• Prior experience interacting with UK regulators (PRA, ECB, or similar regulators).

Purpose of the role

To support the development of audits aligned to the bank’s standards and objectives by working collaboratively with colleagues, providing accurate information and recommendations, and complying with policies and procedures.

Accountabilities

• Audit development and delivery support, including financial statements, accounting practices, operational processes, IT systems and risk management.
• Identification of operational risks to support the delivery of the Barclays Internal Audit (BIA) Audit Plan through risk assessments.
• Assessment of internal control effectiveness and their capability to identify and mitigate risk aligned to regulatory requirements.
• Communication of key findings and recommendations to stakeholders, including the Audit Owner, senior managers and directors.
• Identification of regulatory news and industry trends/developments to provide timely insight and recommendations for best practice.

Vice President Expectations

• To contribute or set strategy, drive requirements and make recommendations for change. Plan resources, budgets, and policies; manage and maintain policies/ processes; deliver continuous improvements and escalate breaches of policies/procedures..
• If managing a team, they define jobs and responsibilities, planning for the department’s future needs and operations, counselling employees on performance and contributing to employee pay decisions/changes. They may also lead a number of specialists to influence the operations of a department, in alignment with strategic as well as tactical priorities, while balancing short and long term goals and ensuring that budgets and schedules meet corporate requirements..
• If the position has leadership responsibilities, People Leaders are expected to demonstrate a clear set of leadership behaviours to create an environment for colleagues to thrive and deliver to a consistently excellent standard. The four LEAD behaviours are: L – Listen and be authentic, E – Energise and inspire, A – Align across the enterprise, D – Develop others..
• OR for an individual contributor, they will be a subject matter expert within own discipline and will guide technical direction. They will lead collaborative, multi-year assignments and guide team members through structured assignments, identify the need for the inclusion of other areas of specialisation to complete assignments. They will train, guide and coach less experienced specialists and provide information affecting long term profits, organisational risks and strategic decisions..
• Advise key stakeholders, including functional leadership teams and senior management on functional and cross functional areas of impact and alignment.
• Manage and mitigate risks through assessment, in support of the control and governance agenda.
• Demonstrate leadership and accountability for managing risk and strengthening controls in relation to the work your team does.
• Demonstrate comprehensive understanding of the organisation functions to contribute to achieving the goals of the business.
• Collaborate with other areas of work, for business aligned support areas to keep up to speed with business activity and the business strategies.
• Create solutions based on sophisticated analytical thought comparing and selecting complex alternatives. In-depth analysis with interpretative thinking will be required to define problems and develop innovative solutions.
• Adopt and include the outcomes of extensive research in problem solving processes.
• Seek out, build and maintain trusting relationships and partnerships with internal and external stakeholders in order to accomplish key business objectives, using influencing and negotiating skills to achieve outcomes.

All colleagues will be expected to demonstrate the Barclays Values of Respect, Integrity, Service, Excellence and Stewardship – our moral compass, helping us do what we believe is right. They will also be expected to demonstrate the Barclays Mindset – to Empower, Challenge and Drive – the operating manual for how we behave.