Closing Date 2022/02/11
Reference Number LAN211206-1
Job Title Senior Specialist : Model Validation [Centurion]
Division Risk Management
Unit Risk Management
Job Type Classification Permanent
Location - Country South Africa
Location - Province Gauteng
Location - Town / City Centurion
JOB ADVERT SUMMARY
The Land and Agricultural Development Bank of South Africa (Land Bank) is South Africa’s only specialist agricultural bank established in 1912, the bank’s sole objective is to serve South African commercial and emerging farmers and bring specially designed financial services within their reach. These services enable farmers to finance land, equipment, improve assets and obtain production credit.
The Land Bank provides financial services that have moved with the times and continues to provide services to agri-business and constantly reviews its offerings to ensure that they match the needs of an industry. As change has swept across the sector in South Africa the socio-economic makeup of agriculture has altered, bringing new entrants from historically disadvantaged backgrounds on to the land, these new farmers, facing the challenges of establishing sustainable agri-businesses across the agricultural value chain, Land Bank has been a commercial lifeline offering appropriately designed financial products that facilitate personal and commercial viability in a sector that is vital to the sustainability of South Africa and its people. Manages the independent review and validation of the models that mitigate the credit risk covering calculation pricing, credit assessment and impairments within Land Bank.
KEY PERFORMANCE AREAS
1. Designs and manages the Governance process of the independent review and validation of Land Bank pricing, IRB credit and IFRS 9 / impairment models;
1) Designs an effective, systematic, disciplined approach to evaluate and improve processes and procedures for the validation of key Land Bank pricing, IRB credit and IFRS 9 / impairment models.
2) Designs, manages and updates the Model Governance Framework and related policies in relation to pricing, IRB credit and IFRS 9 impairment models.
3) Gives independent, objective assurance and advisory services that the key Land Bank pricing, IRB credit and IFRS 9 impairment models are functioning in a manner that adds value and improves the Land Bank’s operations.
2. Manages the implementation of a robust model governance framework and contributes to the promotion of effective model development, implementation and use in the bank;
1) Ensures that all the Land Bank pricing, IRB credit and IFRS 9 impairment models conform to relevant international and domestic regulations (regulatory requirements) and legislation.
2) Manages and provides oversight over the implementation and monitoring of a model risk and control assessment (RCA) matrix including managing the resolution of risk issues.
3) Liaise and assists Land Bank management on areas that require improvement in internal controls and the related regulatory environment by considering business objectives in the associated economic environment.
4) Provides regular feedback to Land Bank management on validation findings that require special management attention.
3. Manages the validation of the implementation and use of the Land Bank models across the business;
1) Reviews the pricing, IRB credit and IFRS 9 impairment model development methodology to adhere to international and regulatory standards
2) Executes independent testing of model output to ensure correct implementation of model on IT platforms for use by the business in frontline acquisition of clients and middle office credit assessment of clients.
3) Presents findings of validation work through formal validation reports that ensure use by the business of model outputs in client acquisition, client assessment, client pricing, impairments calculation, restructures, collections and legal liquidations.
4. Develops, implements and executes an integrated model validation plan that takes into account business strategies and the related risks to enable delivery of business goals;
1) Compiles an integrated model validation plan that takes into account the economic environment, the key strategic risks faced by the Land Bank and the limitations of the business due to capacity constraints.
2) Plans resource allocation so that the model validation plan may be delivered on time and to budget in a manner that adds value to business.
3) Manages stakeholder expectations and capacities, critical path dependencies, scope creep and deliverable of key deliverables.
5. Manages stakeholders to project a positive image of risk management in the business and to enable alignment of business strategy and processes to model use and outputs. (Adoption of use of model throughout the bank);
1) Reviews models and related parameters so they align to changing circumstances and events.
2) Manages adoption and use of models throughout the bank to support and improve their business processes.
3) Defines and agree with Land Bank management areas where the Land Bank needs to improve controls so as to mitigate significant risks through assessment of pricing, IRB credit and IFRS 9 impairment model output reports.
4) Determines and agrees with Land Bank management parameters in pricing, IRB credit and IFRS 9 impairment models that need to be refined so as to give model outputs that best measure the risks of the business.
5) Determines and agrees with Land Bank management databases and data management systems, processes and policies that require improvement so as to help mitigate key business risks.
6. Provides consulting services to the business on model related issues and conducts research;
1) Provides advice on improvement of business processes based on model outputs and assist with implementation of improvements while taking cognizance of segregation of duties as per the Land Bank’s three lines of defence model.
2) Provides advice on resolution of control inadequacy or ineffectiveness and with implementation of resolutions while taking cognizance of segregation of duties as per the Land Bank’s three lines of defence model.
3) Performs an advisory service beyond providing an assurance service to assist management in meeting its business goals.
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