Risk Analytics Model Developer

Risk Analytics - Model Development at OakNorth

OakNorth Bank is seeking a driven and innovative Risk Analytics - Model Development professional to join our growing team in India. Since our launch in 2015, we have empowered entrepreneurs with over £21bn in funding, contributing to the creation of over 56,000 jobs and 34,000 homes across the UK and US. We are committed to helping pioneering businesses flourish, and our robust analytics capabilities are key to securing our digital assets and customer data. This is a unique opportunity to join a fast-paced, forward-thinking bank that values self-starters and bold thinkers eager to shape their own careers.

Role Overview

In this dynamic role within the Risk Analytics team, you will be instrumental in the statistical development, validation, and monitoring of credit risk models, including PD/LGD/EAD, ECL, and ICAAP models. You will leverage quantitative tools and techniques to solve complex business challenges and participate in crucial provisioning and stress testing exercises for the bank. We are looking for individuals who are not just looking for a job, but a platform to make a significant impact.

Key Responsibilities

• Develop, validate, monitor, and implement credit risk models (PD/LGD/EAD/IFRS9/Stress Testing), considering both qualitative and quantitative factors.
• Analyze, explain, and meticulously document models and their outcomes.
• Conduct additional analyses, including periodic provisioning and stress testing exercises.
• Research and propose quantitative and qualitative techniques to enhance model performance.
• Build and strengthen the governance framework in alignment with regulatory requirements.
• Utilize R/Python for model development, enhancement, analysis, and process automation.
• Collaborate with cross-functional teams and various business units across the bank on risk management activities.
• Communicate effectively with stakeholders, internal audit, model validation teams, and other parties, ensuring timely and accurate responses to requests.

Required Experience and Skills

• 3-6 years of relevant experience in a financial institution or consulting firm, ideally in a Quant/Data Science role within a data-intensive environment.
• Master’s degree in a quantitative field such as Statistics, Mathematics, Operations Research, Economics, or Finance, or an equivalent qualification.
• Proven experience in developing and validating credit risk models.
• Demonstrated experience with provisioning under IFRS9 implementation for banks.
• Solid understanding of risk management concepts, including stress testing and regulatory frameworks for banks.
• Proficiency in programming languages (R/Python) and advanced statistical techniques, along with advanced Excel skills.
• Strong analytical thinking, quantitative abilities, and problem-solving skills.
• Exceptional attention to detail.
• Ability to thrive under pressure in a fast-paced, team-oriented environment.
• Excellent communication skills, with the ability to clearly articulate complex technical issues verbally and in writing.
• FRM/CFA certification or equivalent is considered a plus.

About OakNorth Bank

At OakNorth Bank, we empower entrepreneurs to achieve their ambitions by providing data intelligence for informed decisions and successful scaling. We believe banking should be accessible and barrier-free, driven by our entrepreneurial spirit and data-driven tools. We support businesses and create jobs, while offering competitive interest rates to savers. Beyond finance, we are dedicated to fostering employee growth and creating an inclusive, diverse workplace where everyone can thrive.

Key skills/competency

• Risk Analytics
• Model Development
• Credit Risk Models
• PD LGD EAD
• IFRS9
• Stress Testing
• R Programming
• Python Programming
• Quantitative Analysis
• Financial Institutions