Manager Model Risk & Validation (Credit Risk)

Reporting to the Senior Manager, Model Risk & Validation , you will be responsible for maintaining, improving, and executing the Bank’s model validation framework. In this role, you will act as a subject matter expert on validations related to credit risk models used for regulatory capital ( APS113 ), collective provisions ( IFRS9 ), and macroeconomic stress testing.

This is a high-profile opportunity that balances deep quantitative hands-on validation with strategic stakeholder engagement, ensuring that our executive teams and regulators have complete confidence in our model risk management.

As a Manager, Model Validation, you’ll make an impact by:

Leading Independent Validations: Conducting end-to-end quantitative and qualitative assessments of credit risk, collective provisioning, and stress testing models to ensure conceptual soundness and operational robustness.

Providing Strategic Insights & Advice: Directly partnering with model developers and business owners to deliver constructive, expert-level challenge and actionable recommendations for model improvement.

Upholding Regulatory Standards: Ensuring our credit models comply with APRA prudential standards (specifically APS113 ), IFRS9 standards, and internal model risk governance policies.

Driving Innovation & Coding Quality: Utilizing contemporary statistical software (such as Python, R, SAS, and SQL) to execute parallel coding, outcome analysis, and data manipulation.

Active Committee Participation: Contributing high-quality validation reports and presenting quantitative findings to the Models Risk Committee and other key oversight forums.

To be successful in this position, you will need a strong mathematical foundation, a healthy curiosity to challenge the status quo, and the communication skills to translate complex data into clear strategic narratives.

Essential

Quantitative Expertise: Proven experience in model validation or model development within the financial services industry, with a deep understanding of Credit Risk models (including Collective Provisioning, IFRS9, and Capital/APS113 frameworks).

Technical Proficiency: Hands-on experience with quantitative/analytical tools and database query languages such as R, Python, SAS, or SQL .

Solid Analytical & Problem-Solving Skills: Proficient in mathematics and statistics, with a strong grasp of contemporary model risk management frameworks and controls.

Excellent Communication: Highly developed written and verbal communication skills, with a proven track record of writing high-quality validation reports that make complex technical findings clear to non-technical business stakeholders and executives.

Collaborative Mindset: The ability to work both independently and collaboratively across a diverse stakeholder network (including model developers, business owners, audit, and regulators) to drive positive outcomes.

Highly desirable

Postgraduate qualifications in a quantitative discipline (e.g., Mathematics, Statistics, Econometrics, Actuarial Science, or Data Science).

Prior exposure to other model types (e.g., liquidity risk, interest rate risk, financial crime, or operational risk models).

Want big impact that matters? Here, you’ll know your work directly benefits the customers and communities we all serve. You’ll also get access to a great range of benefits, including:

True Flexibility: Whether it’s hybrid work, flexible hours, a compressed work week, or something different, our flexible options put our people first.

Health & Wellbeing Support: Enjoy discounted gym memberships, private health insurance options, and our comprehensive Employee Assistance Program (EAP) for you and your family.

Continuous Learning: Elevate your skills and career through our corporate university, 'BEN U' , or external training opportunities.

We believe a diverse workforce supported by an inclusive culture is central to our success, and we actively encourage applications from those who bring diversity of thought to our business.

Research suggests 60% of women and underrepresented groups might stop here, even after getting as far as drafting an application. We believe that diversity makes every team stronger, so even if you don’t tick every box, we still want to see your application!