Internal Model Validator (2247)

  • Location: Gloucester
  • Duration: Permanent
  • Working hours: 35 hours per week, Monday to Friday
  • Application end date: 03/12/21

About the role

To provide oversight, advice and independent challenge of the approved Internal Model

Key accountabilities

  • Support the development of the annual independent model validation testing plan
  • Conduct and document the independent model validation testing in accordance with the agreed plan, analysing the results of the testing to form an independent opinion on the appropriateness of the internal model constituent parts
  • Support the delivery of the annual independent validation report and underlying Validation Area Summary Reports needed for the annual opinion to the Group Risk Committee of appropriateness of the Internal Model.
  • Contribute to the implementation and continuous development of the independent validation framework, including liaising with other areas of the business to ensure the validation requirements are understood and adequately met.
  • Collaborate with the Group and other Business Units to ensure the validation framework continues to develop in line with best practice and is fit for purpose.
  • Manage and report on the IM independent validation responsibilities in relation to the identified weaknesses and limitations of the Internal Model
  • Provide appropriate commentary/input for any 2nd line reporting in relation to validation, e.g. quarterly CRO reports to Group Risk Committee
  • Contribute to wider risk activities and reporting as required from time-to-time by the Head of Financial Risk Oversight 
  • Contribute to wider model validation activities and reporting as required
  • Support the collation and production of the annual ORSA, providing independent challenge and oversight of the model inputs and outputs used to support the capital/solvency requirements
  • Provide support and challenge of the IM use and outputs in the annual corporate planning activity 
  • Provide support and challenge to Group Capital on all aspects of capital management and reporting