About the job
The Role Responsibilities:
A new team is being established within ERM charged with building out second line Climate Risk management capabilities, in terms of risk identification, measurement and integrating these into governance and existing risk
processes and partnership with the business. This role will support the Head, Climate Risk Models in the required enhancements to existing risk management capabilities in line with emerging regulatory expectations.
Subject-matter-expert concerning climate risk modelling (both physical risk and transition risk) and the use of climate risk models for credit risk and financial stress testing.
Support initiatives to build out Climate Risk scenario analysis / stress testing capabilities covering Physical and Transition Risks, and for use in BAU client and transactional assessments
Assess emerging Climate Risk scenarios (e.g. NGFS, IEA), climate stress testing industry practices and supervisory expectations and develop a roadmap for establishing in-house capabilities
Support the evaluation of external vendor solutions to help fill gaps in internal data and/or analytical capabilities in the short run. Work collaboratively with vendors where necessary
Work to develop climate scenarios as well as translate climate risk scenarios to macro-economic and market variables necessary for stress testing
Work with Model Risk Management to ensure adherence to model risk policy requirements
Collaborate with local teams to support the delivery of supervisory climate risk scenario analysis and stress testing as they emerge (e.g. Europe / UK / Asia)
Contribute to the broader Climate Risk team in building out best-in-class first line climate risk management capabilities
Customize internal transition risk scenarios to help build and evolve the internal climate scenario framework
Interrogate, assess and choose appropriate models from external parties, including vendors
Establish requirements and work with Risk CDO and team in order to collect data on transition risk impacts and risk-related scenario analysis
Where projects arise collaborate with our academic partners on research opportunities for developing bespoke climate risk modelling and represent the Bank at academic / industry working groups
Support engagement with key footprint countries as well as risk and business stakeholders on the topic of Climate Risk. Ensure the model outputs are fit for purposes not only for regulatory purposes, scenario analysis and stress testing but also for daily business usage, underwriting decisions, risk appetite decisions and strategy design.
Assess the downstream impact of models to understand its network risk. Participate in relevant model implementation and its user acceptance test to ensure models are appropriately implemented not only within the direct system environment but also its relevant downstream environments. Help policy team to provide model usage guidance to users and address users’ feedback.
Understand Model related uncertainty risk including data, regulatory, business strategy, market, competitive landscape, system, environment, and others to ensure model sponsors, owners and model approval committees make right decisions based on the understanding of associated risk.
Keep abreast and address home and host regulatory changes relating to models. Liaise with Regulators for the initial and ongoing certification of Climate risk models. Ensure modelling process and models meet Model Risk Policy and Model Family Standards so that they can be approved by delegated model approval committee and approval committee. Provide timely and high-quality responses to regulatory queries and requests.
Regulatory & Business Conduct
Display exemplary conduct and live by the Group’s Values and Code of Conduct.
Take personal responsibility for embedding the highest standards of ethics, including regulatory and business conduct, across Standard Chartered Bank. This includes understanding and ensuring compliance with, in letter and spirit, all applicable laws, regulations, guidelines and the Group Code of Conduct.
Achieve the outcomes set out in the Bank’s Conduct Principles
: Fair Outcomes for Clients; Effective Financial Markets
Effectively and collaboratively identify, escalate, mitigate and resolve risk, conduct and compliance matters
Be compliant home and host regulatory requirements on modelling : PRA, BaFIN, HKMA, FSS, MAS, BOT, BNM.
Group Model Validation, Home and host Regulators, Model Sponsors and Owners, CIC Business & Credit, CPBB Business & Credit, Model Risk Management, Credit Policy teams, Finance & Group Treasury
Our Ideal Candidate
Climate scenario development and scenario expansion modelling experience or knowledge of Risk modelling within a financial services setting.
Familiarity with conventional transition scenario modelling and tools, including Integrated Assessment Models (IAMs), Simulation Models and Probabilistic Models
Familiarity with the increasing regulatory expectations facing banks with respect to climate risk
Knowledge of financial products
Excellent analytical skills and comfortable working with large datasets; expertise in econometrics and other quantitative methods is highly desirable.
Experience in dealing with change projects and/or building / delivering new capabilities.
Experience of liaising across diverse stakeholder groups; including senior managers, and large firm networks.
Academic and professional background:
Climate Risk model development experience in a Financial/Insurance industry setting
Home and Host Regulatory Framework and Requirements: Awareness and understanding of the regulatory framework in which the firm operates
Good knowledge of banking risk management, a knowledge of Basel/CRR/EBA/IFRS 9 regulations and standards
Understanding of Corporate, Institutional, and Commercial & Retail portfolios and products
Experience in developing or validating quantitative models (at least 5 years) in areas related to climate risk
Strong academic background (PhD is preferable) in a highly quantitative discipline, including economics, stats or maths
Understanding of application of climate risk models, climate science and the key issues that surrounds climate risk areas.
Strong programming skills (Python, R, SAS, SQL, VBA, etc.).
The candidate should be highly-motivated to rapidly advance the firm’s plan to establish a comprehensive climate risk management framework against an ambitious timeline.
Strong written and verbal communication skills.
Analytical and independent thinker.
Excellent attention to detail and good time management.
Initiative, creativity and problem solving.
Self-starter, ability to quickly assimilate and analyse large amounts of information across a variety of topics
Proven ability to partner and collaborate across an organisation, excellent influencing, facilitation, and partnering skills, with the ability to build relationships, partner effectively and build a strong internal network across functions and throughout the global Risk network together with the matrix at all levels of the organisation
Apply now to join the Bank for those with big career ambitions.
To view information on our benefits including our flexible working please visit our career pages. We welcome conversations on flexible working.
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