About the team
We have an exciting opportunity to join our Model Governance team, as a Model Governance Manager. We are seeking an experienced and forward thinking individual to take on this crucial role in driving excellence in model and End User Developed Applications (EUDA) governance across the Group. You will use your expertise to ensure robust model management and compliance within a collaborative and supportive environment.
About Us
The OSB Group is a FTSE 250 specialist mortgage lender, primarily focused on carefully selected segments of the mortgage market.
Our specialist lending is supported by our Kent Reliance and Charter Savings Bank retail savings franchises. Diversification of funding is provided by sophisticated securitisation platforms. OSB’s unique cost-efficient operating model is supported by our wholly-owned subsidiary OSBIndia.
Alongside passion for our products and customers, we're passionate about our people and want to continue building a collaborative and engaging environment. Being dedicated to Diversity, Equity and Inclusion, we encourage differences and recognise that individuals from diverse backgrounds and experiences can bring valuable insights and enhance the way we work. This is supported by our Diversity, Community and Environment Employee Engagement Networks and our commitment to the Women in Finance Charter and Women in Leadership Programme.
What you will be doing
In this role, you will have the opportunity to support all model and EUDA governance activity across the Group, ensuring that appropriate governance arrangements are in place and that model and EUDA risks are managed in line with the Group’s risk appetite and in accordance with regulatory and industry best practise expectations. As the Group transitions to an Internal Ratings Based (‘IRB’) approach for calculating credit risk capital requirements for eligible portfolios, you will also support attesting compliance with regulation, ensuring that IRB governance arrangements are in place and notification requirements are met.
Your responsibilities will include…
1. Model governance – the role supports the Head of Model & EUDA Governance to ensure that an appropriate model governance framework is in place and is operated across the Group including the following responsibilities:
2. Review and update of model policies and supporting standards documents ensuring emerging regulatory expectations and industry best practises are met. Presentation of these to committees for approval.
3. Maintaining and coordinating updates to the Group’s Model Register, ensuring that all models are captured, and the required information is maintained and updated regularly. Coordinate Group-wide reviews of the model landscape. Support model owners in discharging their responsibilities through clear communication and regular engagement.
4. Develop the Group Model Register to achieve full PRA SS1/23 compliance over timelines to be agreed.
5. Support and coordinate the operation of key model governance committees, including agreeing agendas, overseeing minute production and action tracking, briefing of Chairs of committees.
6. EUDA Governance – the role supports the Head of Model & EUDA Governance to ensure that an appropriate EUDA governance framework and second line assurance is in place and is operated across the Group including the following responsibilities:
7. Lead on the development and embedding of EUDA related policies and standards
8. Oversee the EUDA governance activities discharged by the Model & EUDA Analysts and the EUDA Testing and Validation Analyst. Support all staff training and day to day management of these resources to ensure that objectives are met within agreed timelines.
9. Support the implementation and configuration of the EUDA IT tool, including migrating the EUDA Inventory and the landscape scanning process.
10. IRB and Rating System – supports maintenance of the Group’s IRB permissions and the PRA compliance framework, supporting the annual self-assessment against ongoing capital requirements regulation (“CRR”) compliance, facilitating the Significant Management Function (‘SMF’) providing the annual written attestation to the PRA including:
11. Coordination and management of the Group’s annual IRB self-assessment and attestation process, engaging key stakeholders and supporting the end to end completion of the exercise.
12. Supporting the review and update of the self-assessment policy, maintaining process documentation.
13. Coordinate the tracking and management of actions arising from the self-assessment process.
14. Use & Experience Assessments – supports the review and update of the Group’s IRB Use and Experience records, including:
15. Scheduling of regular sessions with key enablers across the Group to update the position and collect evidence.
16. Management of the storage of all Use & Experience related information and evidence such that it is available for sharing with senior management or the regulator.
17. Preparation of summaries and materials as required to accurately reflect the latest position to senior management or the regulator.
In return for your commitment
We offer a base salary dependent on experience of between £65,000 - £75,000 and a competitive benefits package including:
18. Discretionary annual bonus opportunity of up to 15%
19. 28 days annual leave plus bank holidays
20. Contributory pension (8% employer 5% employee)
21. Life Assurance (4x salary) plus Group Income Protection
22. Access to Private Medical Insurance and Medical Cash Plan
23. Maternity & Adoption Leave – Occupational Maternity/Adoption Pay provided at 100% of salary for the first 13 weeks and at 50% of salary for the next 13 week period.
24. Paternity Leave – 4 weeks of paid leave to be taken within 8 weeks of childbirth
25. Additional benefits such as Hybrid working, Cycle Purchase scheme, Technology Purchase scheme, Season Ticket Loan, Holiday purchase / sell schemes, Employee Perk Portals, Payroll giving and Save as you Earn scheme.
Could you be the one?
We are looking for talented individuals who have the experience and knowledge set out below:
26. Robust previous experience working in a similar model governance, EUDA, IRB, model development or compliance related role is essential
27. Robust experience of working in a financial services or risk based environment is essential.
28. Significant experience of internal model governance is essential, preferably obtained within an IRB accredited / aspirant firm is an advantage.
29. Good experience of writing reports for senior committees is essential.
30. Good experience of risk models across numerous disciplines is essential.
31. Strong experience of engaging with senior stakeholders is essential.
We also believe that your career and how you progress is as unique as your individual personality. We continually support our people so they can become the best version of themselves.
What to do next
If this sounds like you, please apply now! For internal applications please visit the internal careers page to apply.
Alternatively, if you wish to have an informal and confidential chat please get in touch. Contact details can be found on our careers page.
If shortlisted from your initial application we operate a personalised recruitment process. Interviews are a two way street, we aim for them to be relevant and conversational to get the best out of you!
OSB Group are dedicated to diversity in the workplace and committed to treating all our employees and job applicants equally. We embrace equal opportunities and are opposed to discrimination on any grounds.
As part of our public commitment to the Women in Finance Charter, we have introduced our own initiatives to attract, develop and advance senior women in our sector. We don’t stop there though, we have broadened our approach to encourage diversity and inclusion at all levels and in all roles. Our leadership and Executive Committee are right behind us, to the extent that our Diversity Champions sit at Board level and on a monthly basis receive updates on our progress.
Whilst we are an organisation that values face-to-face interaction to build and nourish our culture, we also acknowledge that people are not just productive in an office and tied to the 9 to 5. Flexible-working opportunities are important for establishing a healthy work-life balance so if you see a role of interest we are happy to be asked about flexibility and explore together if we can make it work.
All applicants must have rights to work in the UK and be willing to undertake the relevant pre-employment screening checks should your application be successful.
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