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Investment Model Oversight Manager

Company: Standard Life    Location: Edinburgh

Contract Type: Permanent

Job Title: Investment Model Oversight Manager

Location: Edinburgh or London

Department: Risk & Compliance

Contact: People Advice 0131 245 1000

Closing Date: 26th January 2018

Role Context

In light of the merger between Standard Life plc and Aberdeen Asset Management plc forming Standard Life Aberdeen plc, the Risk and Compliance function of the merged company is being re-organised to ensure strong regional and functional risk and compliance oversight over the business.

The Group CRO has full line accountability for the risk function across the organisation. The function is split across the Company’s two major business lines: Asset Management (Aberdeen Standard Investments or “ASI”) and the Pensions and Savings business (Pensions & Savings or “P&S”). In light of the merger a new Investment Risk Oversight function has been created within the Aberdeen Standard Investments Risk and Compliance area. The Investment Risk Oversight function will be responsible (i) for overseeing the processes and approaches taken to analyse investment risk and (ii) for monitoring the assessment of risks at each stage of the product lifecycle.

Role Purpose

The purpose of this role is to oversee the data architecture, models and systems which enable the Investment Processes and governance across all asset classes and regions in ASI. In addition to performing a continuing assurance program of the established first-line models in place, the role holder will be expected to advise on appropriate risk models for new products. Where weaknesses or gaps are identified in 1st line models or systems, the role holder will be expected to track these issues whilst supporting the 1st line teams in addressing them.

The scope of the role will include oversight of third-party market, liquidity and credit risk models, as well as the assessment of operational risks across internally built systems and models that support the Investment Process. The role holder will report into the Global Head of Investment Risk Oversight

Qualifications

Key Outcomes

  • Provide independent assessment and challenge on model frameworks, assumptions, inputs and limitations
  • Assess the analytical toolkits and models in first-line processes and support their process improvement; advising on solutions and best practise.
  • Oversee the back-testing of third-party and internally built models, ensuring issues are appropriately addressed.
  • Overseeing the governance of ASI models and systems as they relate to the Model Risk Management Policy
  • Provide model advice and consultancy to governance and portfolio management teams
  • Working with Governance colleagues to ensure that effective risk modelling capabilities are in place to support new products
  • Oversight of modelling capabilities in support of new markets and instruments
  • Tracking issues of concern to the Global Head of IRO and ASI CRO which may be tabled on the agendas of subcommittees of the ASI Enterprise Risk Management Committee so that they can be addressed in a timely and effective manner

Key Knowledge/Experience/Qualifications

Essential:

  • Good undergraduate degree, preferably in a numerical discipline
  • Asset management industry experience
  • Good knowledge of financial instruments and markets
  • Strong knowledge in equity, fixed income, credit and derivatives
  • Strong understanding of risk factors and risk models
  • Good knowledge of portfolio and financial theory
  • Good knowledge of risk model(s): RiskMetrics, APT, UBS Delta, Axioma
  • Advanced Excel skills, including VBA
  • Professional Risk Manager qualification, such as PRM, or willingness to work towards it.

Desirable:

  • Experience in a senior risk management or quantitative role
  • Working knowledge of investment systems: Bloomberg, Factset
  • IMC/CFA would be advantageous
  • Postgraduate degree or qualification in quantitative discipline
  • Spreadsheet assurance experience

Skills:

  • Accuracy
  • Numeracy
  • Planning & Organisation
  • Willingness to take responsibility
  • Good written communication skills
  • Team spirit / ability and desire to work as a part of a team
  • Customer Focus
  • Solution oriented
  • Collaborative
  • Analytical Thinking
  • Building strong positive relationships across stakeholders

Talents:

  • Customer Focus works hard to understand the needs of internal and external customers and tailors approach appropriately.
  • Preference for actionis proactive and takes the lead in identifying information and opportunities for building positive relationships with key customers.
  • Achievement Drive is motivated to get results and is driven to ensure potential of self
  • Teamworkwill support others and will build relationships with colleagues within and out with immediate business area.
  • Communicating and Influencing enthusiastic when dealing with others and listens to customer needs. Takes steps to build rapport and to maintain ongoing contact with internal colleagues. Uses a range of influencing tools and techniques to persuade others to act.
  • Information Gathering works hard to collate information to ensure full picture is understood and decisions can be made. Identifies a range of relevant sources for obtaining information. Must be able to spot trends and anomalies in data.
  • Professionalism and Business Integrity is open and honest when dealing with others and presents ASI in the best way possible.
  • Tenacity/Resilience Sees barriers as a challenge and will identify ways to overcome challenges.
  • Value focusedstrives to understand strategic context of tasks. Applies effective and efficient mind-set in their approach to achieve value-add outcomes.

Contact - Emma Whyte: emma.whyte@aberdeenstandard.com

We value diversity in our workforce and welcome enquiries from everyone.

Job : Audit, Compliance and Risk Primary Location : United Kingdom-Edinburgh