We have an exciting new opening within the Financial and Model Risk (FaM) Function for a Senior Manager- Model Risk Management and Validation. The individual will report into the Group Head of Model Risk Management and Validation.
FaM are a trusted advisor and critical friend to the 1st line of defence. Our key purpose is to enable the business to make effective risk-based judgements, think through the prudential regulatory framework and underpinned by robust controls and governance.
The Senior Manager - Model Risk Management and Validation will be in charge of the organisation's model risk appetite process, refining Board-level metrics and Key Risk Indicators. They will be responsible for key elements of the Group Model Risk Committee, including overseeing the regular production of accurate risk reporting and management information, plus supporting sub-forums.
The individual will also be responsible for the oversight and management of the Group's Model Inventory and will lead the ongoing education and training of relevant staff re: Model Risk expectations and requirements. They will be responsible for the development and maintenance of the Model Risk Framework, Policy, Control Standards and supporting Group-wide artefacts such as the Model Validation Procedures.
In addition, the role holder will oversee support of some critical models (e.g. IFRS9, AIRB Secured), ensuring alignment with internal standards and regulatory expectations.
Acting as a key voice across the Group, they promote model risk awareness and present to senior committees, while ensuring the Model Risk Framework remains robust and proportionate to the organisation's complexity.
Our benefits include: 28 days holiday a year plus bank holidays and a holiday buy/sell scheme
Annual discretionary bonus scheme
Personal pension with matched contributions
Life Assurance - 6 times your base salary
Private Medical Insurance
Health Screening - Eligible
Find out more about the fantastic benefits of joining Coventry Building Society here .
We reserve the right to close this advert early if we receive a high volume of suitable applications
Location: We operate on a team led hybrid approach across the Coventry & / or Manchester office. Working 9 - 5 Mon to Fri but flexible and as the job demands
About you
To be successful in this role it's essential you have: Proven experience of successfully leading model risk management initiative and developing and embedding an effective model risk management framework.
You will have a proven history of successful engagement with senior management, and developing strong trusted advisor, critical friend relationships with the business.
You must possess expert level technical knowledge of a key relevant modelling sets used in the Group, gained through a previous development or validation role. Relevant model sets include: Advanced IRB models (e.g. secured retail) is a must.
IFRS9
Credit Forecasting models
Desirable experience will be: Ideally you will have previously worked at major retail Banks or Building Societies in the past
About us
On 1 January 2025, Coventry Building Society purchased The Co-operative Bank. Bringing together our purpose-led building society with the UK's original ethical bank was the start of an exciting journey.
Trusted by over four million people, we're a mutually owned business free from shareholders, and with our combined experience of almost 300 years, our ethics and dedication will continue to guide us. Together, we have shared values and an ethical approach towards our members, customers and colleagues.
We're officially recognised as a 'Great Place to Work' and our benefits go beyond basic pay, with a discretionary bonus scheme, a culture of reward and recognition and comprehensive support for wellbeing.
We're serious about equality, of race, age, faith, disability, and sexual orientation and we celebrate diversity. By working together, we know you'll build more than just a career with us.
Flexibility and why it matters
We understand the need for flexibility, so wherever possible, we'll consider alternative working patterns. Have a chat with us before you apply to see what the possibilities are for this role.
Proud to be a Disability Confident Committed Employer
We're proud to offer an interview or assessment to every disabled applicant who meet the minimum criteria for our vacancies. As part of the application process, disabled applicants can opt in for the Disability Confident Interview Scheme. If there are ever occasions where it is not practicable to interview all candidates that meet the essential criteria, such as when we receive a high number of applications, we commit to interviewing disabled candidates who best meet the minimum essential and desirable criteria.
Location
Coventry
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