Model Validation Specialist

UnionBank of the Philippines ·

Outsourced Service Provider

About the role

The Model Validation Specialist supports CROU in performing independent model review, model monitoring review, effective challenge, issue tracking, and model risk oversight activities in accordance with the Model Risk Management Framework (MRMF), Model Monitoring Guidelines (MMG), Model Change Guidelines (MCG), BSP regulatory expectations, and related model risk management requirements. The role primarily supports Low Risk Tier model reviews, model change reviews, model monitoring assessments, and regulatory implementation initiatives across various model types.

What you'll do

• 1. Conduct Model Reviews
• Perform independent reviews of Low Risk Tier Risk and Non-AI/ML models prior to implementation.
• Review Model Enhancements, including redevelopment, recalibration, retraining, and other methodology changes, as applicable.
• Review and validate Model Application Changes, including model use expansion, benchmark changes, threshold realignment, actuals updates, retirement, and other changes affecting model use or lifecycle status.
• Assess model methodology, assumptions, data sources, limitations, documentation, implementation evidence, and intended use.
• Provide effective challenge and recommendations on model risks, identified gaps, and proposed actions.
• 2. Conduct Model Monitoring Reviews
• Independently review model monitoring results submitted by Model Owners.
• Assess model performance metrics, monitoring thresholds, stability indicators, back-testing results, overrides, and model limitations.
• Evaluate performance deterioration, threshold breaches, emerging risks, and continued model fitness for purpose.
• Assess the reasonableness of root-cause analyses, management explanations, and remediation plans.
• Review appropriateness of model use and adherence to approved model scope and limitations.
• Recommend watchlisting, model enhancement, recalibration, redevelopment, retirement, or additional review activities where warranted.
• 3. Prepare Reports and Documentation
• Prepare model review reports, assessment memoranda, monitoring assessment reports, and effective challenge documentation.
• Maintain issue trackers and action plan monitoring records.
• Document findings, recommendations, agreed actions, closure status, and supporting evidence assessed.
• Provide reporting inputs for Management, MGMC, RMC, and other relevant forums, as needed.
• 4. Support Regulatory and Enhancement Initiatives
• Support implementation of the Model Monitoring Guidelines (MMG).
• Support BSP AREF remediation activities and model risk management enhancement initiatives.
• Assist in model inventory updates, validation tracking, monitoring dashboards, and regulatory reporting.
• Support implementation of requirements arising from BSP Guidelines on Model Risk Management.

What we're looking for

• Bachelor's degree in Statistics, Mathematics, Economics, Data Science, Engineering, Finance, Risk Management, Computer Science, or related quantitative discipline.
• At least five (5) years of experience in Model Risk Management, Model Validation, Model Monitoring, Risk Analytics, Quantitative Analytics, or related functions.
• Experience with banking models, IFRS 9/ECL, risk analytics, model monitoring, or model risk management is preferred.
• Technical Competencies
• Model Risk Management
• Model Validation and Review
• Model Monitoring
• Effective Challenge
• Statistical and Quantitative Analysis
• Credit Risk Models
• Market and Liquidity Risk Models
• ECL Models
• SQL, Python, R, SAS, or similar tools
• Technical Report Writing

Skills