Head of Markets Model Validation – Model Risk Office

TL;DR

Head of Markets Model Validation (Model Risk Office): Lead strategy and delivery for independent validation of complex quantitative models in Pricing, Market Risk, Counterparty Credit Risk, Algo Trading, and Surveillance with an accent on alignment with business priorities and regulatory expectations. Focus on guiding a large team of specialists, fostering high-performance culture, and providing credible challenge in model governance and oversight.

Location: London (Hybrid: at least two days per week or 40% of time at office sites)

Company

Major bank serving 28 million customers, investing billions in people, data, and tech to transform finance.

What you will do

• Define and execute strategy for Markets model validation, including roadmaps, timelines, and adaptation to regulatory and market changes.
• Lead and develop a team of 30+ quantitative specialists, promoting empowerment, accountability, and continuous improvement.
• Build trust-based relationships with senior leaders across Quant, Markets, Risk, Finance, Audit, and business units.
• Oversee high-standard validations covering conceptual soundness, data, implementation, performance, and limitations.
• Communicate plans, priorities, and outcomes effectively to ExCo, regulators, and technical audiences.
• Champion model risk governance aligned with Group policies, SS1/23, SR11-7, Basel, and regulatory requirements.

Requirements

• Proven leadership of large specialist teams with track record in high-performance cultures and role clarity.
• Strong influencing skills for senior stakeholders, navigating complex agendas and competing priorities.
• Familiarity with Markets models (Pricing, CCR, Market Risk, Algo Trading, Surveillance) for effective oversight.
• Understanding of model risk management, governance, and regulatory expectations (SS1/23, SR11-7, Basel).
• Broad market and product knowledge across asset classes; ability to simplify complexity.
• High integrity, sound judgement, resilience, and confidence in senior/regulatory settings.

Nice to have

• Programming familiarity (Python, C++).

Culture & Benefits

• Hybrid working with job share options and flexibility for disabilities.
• Generous pension up to 15%, annual performance bonus, share schemes, and adaptable lifestyle benefits.
• 30 days’ holiday plus bank holidays, wellbeing initiatives, and parental leave policies.
• Culture of openness, psychological safety, continuous improvement, and alignment to Group Values.