Posted: 18 June
The role
What is the Role:
AIB Group is seeking a “Head of Financial Risks Model Development” to join the Group Finance Capital Management and Financial Modelling (CMFM) area. The successful candidate will manage a team that uses mathematics, quantitative methods and data analysis to develop, implement, monitor and maintain models that support the quantification of the banks’ exposure to financial risk from a range of sources.
Key accountabilities
Deliver risk models, including economic capital, for market risk (including interest rate), credit spread risk, liquidity risk, pension risk and climate risk.
Detailed understanding of bank requirements and regulator expectations associated with Interest Rate Risk in the Banking Book (IRRBB) and Credit Spread Risk in the Banking Book (CSRBB) across enterprise Balance Sheet.
Engage with, and influence, senior stakeholders, including CFO and wider Finance, Group Treasurer, CRO and external institutions, including the ECB.
Build network, gaining insight from industry peers and advisors enabling continuous improvement.
Represent the CMFM department at various internal committees, including presenting at Group ALCo and Board.
Ensure financial risk models underpin Treasury Strategy and risk limit setting.
Deliver model changes & improvements arising from ECB inspections & SREP, primary ECB contact for modelling financial risks.
Provide clear and comprehensive documentation in support of models and model‑related processes.
Lead a team of quantitative risk analysts ranging in experience.
What you Will Bring
Relevant third level or postgraduate qualification in an analytical discipline (e.g. mathematics, physics, statistics, engineering, actuarial science, computer science, accounting)
At least 10 years’ experience within the Financial Services industry with quantitative experience in which you have demonstrated excellent analytic and problem‑solving skills, including engagement across senior stakeholders, participation across risk fora and delivering requirements under internal model risk management policies.
Advanced knowledge of and practical experience with some or all of the following; IRRBB, CSRBB, Derivative Pricing, XVA, statistical techniques including time‑series analysis, ARIMA‑GARCH models, Historical Simulation, VaR/CAR, market‑risk measurement, behavioural modelling.
A good understanding of the balance sheet risks run by Irish retail banks (i.e. IRRBB, CSRBB).
Practical coding experience (R or Python) an advantage.
Excellent oral and written communication skills with an ability to convey complex concepts to both technical and non‑technical audiences; including most senior committees in the Bank.
A focus on growth and improvement combined with a desire to share and contribute to the development of junior quantitative analysts.
Experience engaging with stakeholders to gather requirements (including regulatory requirements) and then translate these into practical solutions that are supported, trusted and understood by those stakeholders.
Engagement with 2nd line risk functions to ensure requirements under the internal model risk management policy are met.
Why Work for AIB
We are committed to offering our colleagues choice and flexibility in how we work and live and our hybrid working model enables our people to balance their time between working from home and their designated office, subject to their role, the needs of our customers and business requirements.
Benefits
Variable Pay
Employee Assistance Programme
Family leave options
Key Capabilities
Enterprise Leadership – demonstrates strong capability for effective leadership scale, complexity and breadth. Instils and sustains organization‑wide energy for what is possible, articulates a compelling, inspired, and relatable vision which is purpose‑led and shareable by everyone.
Drives Vision & Purpose – painting a compelling picture of the vision and strategy that motivates others to action.
Strategic Mind – set‑seeing ahead to future possibilities and translating them into breakthrough strategies.
Develops Talent – develops talent to meet both their career goals and organization’s goals – sees talent development as a critical organizational imperative.
Ensures Accountability – holds self and others accountable to meet commitments.
Managing Ambiguity – operating effectively, even when things are not certain or the way forward is not clear. Deals comfortably with the uncertainty of change.
Communicates with Impact – develops and delivers multi‑mode communications that convey a clear understanding of the unique needs of different audiences.
Technical expertise relevant to position – ability to summarise complex technical information to a non‑technical audience as well as lead and define technical led workstreams.
AIB is an equal opportunities employer, and we pride ourselves on being the first bank in Ireland to receive the Investors in Diversity Gold Standard accreditation from the Irish Centre for Diversity. We are committed to providing reasonable accommodations for applicants and employees. Should you have a reasonable accommodation request please email the Talent Acquisition team at careers@aib.ie
Disclaimer: Unsolicited CV’s sent to AIB by Recruitment Agencies will not be accepted for this position. AIB operates a direct sourcing model and where agency assistance is required, the Talent Acquisition team will engage directly with our recruitment partners.
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