Assistant VP, Credit Risk Model Validation

Company: 1011 United Overseas Bank Ltd

About UOB United Overseas Bank Limited (UOB) is a leading bank in Asia with a global network of more than 500 branches and offices in 19 countries and territories in Asia Pacific, Europe and North America. In Asia, we operate through our head office in Singapore and banking subsidiaries in China, Indonesia, Malaysia and Thailand, as well as branches and offices.

Our history spans more than 80 years. Over this time, we have been guided by our values – Honorable, Enterprising, United and Committed. This means we always strive to do what is right, build for the future, work as one team and pursue long-term success. It is how we work, consistently, be it towards the company, our colleagues or our customers.

• Conduct independent validation of a wide range of credit risk models, including PD, LGD, EAD, stress testing, and IFRS 9 models, across various portfolios (retail, corporate, wholesale).
• Provide effective challenges to all model aspects including theoretical / conceptual soundness, model assumptions, model design, data inputs, modeling process, and model outcomes.
• Develop and implement comprehensive validation plans, including quantitative and qualitative analyses, backtesting, sensitivity analysis, and benchmark comparisons.
• Document validation findings, limitations, and recommendations clearly and concisely in validation reports.
• Effectively communicate validation results and recommendations effectively to model developers, model owners, senior management, and internal/external auditors.
• Stay abreast of industry best practices, regulatory requirements (e.g., Basel, IFRS 9, MAS), and emerging trends in model risk management and quantitative finance.
• Collaborate with model development teams to understand model methodologies and provide constructive feedback for model enhancements.
• Contribute to the continuous improvement of the model validation framework, policies, and procedures.
• Participate in ad-hoc projects related to model risk management and quantitative analysis as required.

• Undergraduate, Master s or Ph.D. in a quantitative field such as Financial Engineering, Mathematics, Statistics, Physics, Economics, or Computer Science.
• Minimum of 2-5 years of experience in credit risk model validation, model development, or quantitative risk management within a financial institution.
• Strong understanding of credit risk modeling techniques.