Model Risk Management Specialist

4 days ago

Mandaluyong City, National Capital Region, Philippines Asian Development Bank (ADB) Full time

On-site - Mandaluyong Fresh Graduate/Student Bachelor Full-time

Job DescriptionDescription

Join Our Mission to Foster Prosperity in Asia

Are you ready to make a lasting impact on the future of Asia and be a catalyst for positive change? We are thrilled to offer a unique opportunity to become an important part of the prestigious Asian Development Bank (ADB). At ADB, our mission is simple yet powerful: to alleviate poverty and promote sustainable development in the Asia-Pacific region.

Organizational Setting and Reporting Relationship

The position of Model Risk Management Specialist is assigned to the Model Risk Management (MRM) team within the Office of the Head, Office of Risk Management (ORM). You will be based at our Headquarters in Manila, Philippines.

You will report to the Head, ORM and will oversee Junior team members.

Your Role

As a Model Risk Management Specialist, you will support the Principal Model Risk Management Specialist in the roll-out of the Model Governance Framework (MGF) to all departments and offices of ADB. You will (i) implement best practices for model risk governance in ADB; (ii) identify and manage ADB's model risk inventory; (iii) develop policies, processes, and methodologies for model review and validation; (iv) carry out independent model validation and (v) report, as necessary, to senior management and the Board.

You Will

  • Model Risk Governance
  • Maintain and operate the model risk governance framework (MGF) and model governance structure.
  • Support the implementation of the MGF to all departments and offices, especially to the private sector operations.
  • Periodically review results of models' performance monitoring and validation, including implementation of remedial actions, provides recommendations to model owners and Model Risk Committee (MRC).
  • Escalate model review and validation findings to the Model Risk Committee.
  • Support in the communication, coordination and preparation of updates for MRC and the ADB Risk Committee.
  • Manage ADB´s model inventory. Establish requirements specific to the model inventory and to support semi-annual attestations across ADB.
  • Review functionalities of all models with an objective to avoid unintentional model duplication in the organization.
  • Resolve inquiries from model stakeholders and owners on model inventory, model review and validation processes.
  • Report operational risk incidents and near misses pertaining to models in line with operational risk reporting requirements.
  • Review proposed policies, processes, and guidelines to ensure their compliance with ADB requirements and best practices.
  • Knowledge Sharing
  • Maintain knowledge of emerging best practices and standards in model governance, model review and validation.
  • Provide support in organizing and conducting training to promote an appropriate risk culture in ADB.
  • Contribute to formulation of ADB policies, guidelines and practices on risk and portfolio management.
  • Liaise with other multilateral development banks in sharing of information and knowledge on policies, methodologies, and related techniques.
  • Staff Supervision
  • Provide leadership and support to Junior team members.
  • Oversee the performance of your team members, providing clear direction and regular monitoring and feedback on performance.
  • Coach and mentor reporting staff and ensure their ongoing learning and development.

You Will Need
  • A University degree in Computer Science, Mathematics, Engineering, Finance, Economics, Statistics, or related fields; preferably at post-graduate level or its equivalent.
  • At least 6 years of relevant international experience in a similar setting e.g. international financial institution, international bank, or other similar institution.
  • Strong model development and validation experience.
  • Working knowledge of financial theory; risk related models (credit, market, operational and liquidity etc.), capital (economic capital, regulatory capital) and stress testing models, pricing, and valuation models etc.
  • Background on methodologies used in private sector financing arrangements (e.g. private equity investments, loan syndications) is preferred.
  • Good knowledge of statistical analysis techniques, pertaining to risk modeling, particularly in wholesale credit risk, market risk and operational risk modeling.
  • Strong project management and execution skills, including the ability to effectively drive complex, multifaceted initiatives to conclusion within demanding timeframes.
  • Ability to convey complex concepts and outcomes to non-subject matter experts.
  • Excellent oral and written communication skills in English.
  • Experience and track record in public speaking and presentation.
  • Effective time management to efficiently deliver concurrent projects with overlapping tasks.
  • Ability to collaboratively work with model owner/sponsor counterparts.
  • International experience working in several countries.
Benefits

ADB offers competitive compensation and a comprehensive benefits package. The salary will be based on ADB's standards and comparator markets, taking into account your qualifications and experience.
  • Paid leave (including parental)
  • Medical and health benefits
  • Life and other insurance plans
  • Staff development
  • Retirement plan
  • Housing and education allowance (if applicable)
  • Expatriate benefits (for international staff)

About Us

Asian Development Bank (ADB) is an international development finance institution headquartered in Manila, Philippines and is composed of 69 members, 49 of which are from the Asia and Pacific region. ADB is committed to achieving a prosperous, inclusive, resilient, and sustainable Asia and the Pacific, while sustaining its efforts to eradicate extreme poverty. ADB combines finance, knowledge, and partnerships to fulfill its expanded vision under its Strategy 2030.

ADB only hires nationals of its 69 members.

ADB seeks to ensure that everyone is treated with respect and given equal opportunities to work in an inclusive environment. ADB encourages all qualified candidates to apply regardless of their racial, ethnic, religious and cultural background, gender, sexual orientation or disabilities. Women are highly encouraged to apply.

Visit ADB Careers FAQ for more information.
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