Risk Model Validation Vice President (VP)

What will you be doing?

Barclays Services Corp. seeks Risk Model Validation Vice President (VP) in New York, NY (multiple positions available):

• Complete model validation within Treasury, Liquidity, IRRBB for their intended use and scope, commensurate with the complexity and materiality of the models.

• Role will require to act as Lead Validator for Tier-1 models, for which the VP will need to project manage and ensure the effective execution of the validation. Lead Validator will need to perform an end-to-end secondary review to the verify that the quality of the validation is in line with Model Risk Management Policy and Standards. Lead Validators will also guide junior validators to ensure quality and rigor.

• Produce high quality written validation reports including documentation of validation findings in clear and concise way.

• Review of models’ appropriateness based on assessment of the model’s conceptual soundness, performance under intended use and the clarity of the documentation of the model’s inherent risks, limitations and weaknesses. Assessment of any compensating controls used to mitigate Model risk. Manage and mitigate risks through assessment, in support of the control and governance agenda

• Contribute or set strategy, drive requirements and make recommendations for change. manage and maintain policies/ processes; deliver continuous improvements and escalate breaches of policies/procedures. Collaborate with the IVU Head of Treasury Validation and IVU Directors on ad-hoc requests and tasks which includes but not limited to Regulatory and Audit Responses, Validation Procedure Updates, Plan resourcing.

• Advise key stakeholders, including functional leadership teams and senior management on functional and cross functional areas of impact and alignment. Demonstrate leadership and accountability for managing risk and strengthening controls in relation to the work the team does. 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.

• Demonstrate comprehensive understanding of the organization functions to contribute to achieving the goals of the business.

• 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.

• May telecommute pursuant to company policies. [Hybrid role]

Salary / Rate Minimum/yr: $152,339 per year

Salary / Rate Maximum/yr: $160,000 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 validate and approve models for specific usages both at inception and on a periodic basis, and of model changes, as well as conducting annual reviews. 

Accountabilities

• Validation of models for their intended use and scope, commensurate with the complexity and materiality of the models.
• Approval or rejection of a model or usage based on assessment of the model’s conceptual soundness, performance under intended use and the clarity of the documentation of the model’s inherent risks, limitations and weaknesses.
• Assessment of any compensating controls used to mitigate Model risk.
• Documentation of validation findings and recommendations in clear and concise reports, providing actionable insights for model improvement.
• Evaluation of the coherence of model interactions and quality of Large Model Framework aggregate results that generate output for regulatory submissions or management decision making and planning.
• Design of the framework and methodology to measure and, where possible, quantify model risk, including the assessment of framework level uncertainty.

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.