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What will you be doing?

Barclays Services Corp. seeks Model Risk Framework Specialist, AVP in New York, NY (multiple positions available):

1. Support design, rollout and evolution of Model Risk Frameworks that incorporate supervisory expectations and industry best practices to ensure a sustained best-in-class approach to Model Risk Management.

2. Support driving a sustained best-in-class model risk management framework that aligns and complies with supervisory expectations.

3. Perform updates and checks on the Model Risk owned Policy, Standards, and Procedures.

4. Create materials for Model Risk training programs.

5. Stay abreast of new supervisory guidance on model risk.

6. Conduct ad-hoc gap analysis to identify areas of policy improvement and driving the timeline for remediation.

7. Assist business areas with answers to framework compliance questions.

8. Perform as an ambassador for the Model Risk Management program, by ensuring that the model risk framework is communicated in a simple, clear and concise way throughout the firm.

9. Build and maintain effective two-way relationships with other risk practices, finance and the business, to understand 1st line of defense feedback and also ensure that frameworks are understood and embedded.

10. Share best practices and generic issues with stakeholders and provide training to enable compliance.

11. Feed into presentations to legal entity risk committees and other relevant forums.

12. Interact with Internal Audit and drive remediation actions to resolution as needed; including externally raised issues.

13. May Telecommute.

Salary / Rate Minimum/yr: $165,000 per year

Salary / Rate Maximum/yr: $181,500 per year

The minimum and maximum salary/rate information above include only base salary or base hourly rate. It does not include any other type of compensation or benefits that may be available.

This position is eligible for incentives pursuant to Barclays Employee Referral Program.

Purpose of the role

To design frameworks, provide governance of model risk, controls, infrastructure and reporting as well as providing oversight for compliance of the Model Owner community with the Model Risk Management framework 

Accountabilities

• Development, maintenance and management of a globally consistent model risk framework that complies with the firm’s major regulatory requirements.
• Delivery of model inventory and workflow, including associated data quality & reporting and oversight of Quantitative Processes.
• Assessment of the controls employed by the various areas of Barclays that own models to determine their level of compliance with and implementation of the Model Risk Framework.
• Establishment of the Model risk appetite. Model risk tolerance reports are provided to the respective Group level and legal entity committees where relevant.
• Management of the strategic Validation Center of Excellence, performing independent quality assurance to assess whether validation outcomes are well supported by IVU’s assessment of the model.
• Oversight of regulatory and audit responses and interactions within MRM.

Assistant Vice President Expectations

• To advise and influence decision making, contribute to policy development and take responsibility for operational effectiveness. Collaborate closely with other functions/ business divisions.
• Lead a team performing complex tasks, using well developed professional knowledge and skills to deliver on work that impacts the whole business function. Set objectives and coach employees in pursuit of those objectives, appraisal of performance relative to objectives and determination of reward outcomes
• 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 lead collaborative assignments and guide team members through structured assignments, identify the need for the inclusion of other areas of specialisation to complete assignments. They will identify new directions for assignments and/ or projects, identifying a combination of cross functional methodologies or practices to meet required outcomes.
• Consult on complex issues; providing advice to People Leaders to support the resolution of escalated issues.
• Identify ways to mitigate risk and developing new policies/procedures in support of the control and governance agenda.
• Take ownership for managing risk and strengthening controls in relation to the work done.
• Perform work that is closely related to that of other areas, which requires understanding of how areas coordinate and contribute to the achievement of the objectives of the organisation sub-function.
• Collaborate with other areas of work, for business aligned support areas to keep up to speed with business activity and the business strategy.
• Engage in complex analysis of data from multiple sources of information, internal and external sources such as procedures and practises (in other areas, teams, companies, etc).to solve problems creatively and effectively.
• Communicate complex information. 'Complex' information could include sensitive information or information that is difficult to communicate because of its content or its audience.
• Influence or convince stakeholders 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.