Model Risk Governance & Control Specialist

Seasoned professional sought for the position of Model Risk, Governance & Control Specialist, with one opening available. Job Location : Head Office, Hq Job Purpose: To ensure robust oversight and governance of model risk throughout the Bank, the role involves establishing and enforcing policies to guarantee that all models—including those for credit risk, market risk, liquidity risk, IFRS 9, stress testing, scoring, and other decision-making processes—are developed, validated, implemented, and utilized in full compliance with regulatory mandates, internal guidelines, and prevailing industry standards. Main Responsibilities: Model Governance & Policy Implementation Ensure the bank’s model risk policy is effectively implemented, maintaining alignment with corporate strategy and meeting external regulatory requirements. Maintain and improve the integrity of NMB’s central model inventory by ensuring all active and proposed models are comprehensively documented, accurate, and consistently updated. Translate intricate regulatory directives—such as BOT, the Basel Framework, and IFRS—into clear, implementable internal policies, controls, and operating procedures. Oversee model risk management independently and ensure models operate as intended throughout each phase of their life cycle. Ensure adherence to the Bank’s model risk policy, directives from the Bank of Tanzania, and internationally recognized banking standards, including Basel and IFRS 9. Critically evaluate stress testing methodologies, scenario models, and data implementation processes to validate the integrity and reliability of quantitative risk measurement frameworks. Ensure robust oversight and control mechanisms are in place to maintain stability and accuracy in risk assessment procedures. Develop and implement quantitative assessment methodologies to evaluate model vulnerabilities, assess the materiality of impacts, and identify inherent model risks.

• Assess model effectiveness by systematically reviewing results, data inputs, and foundational assumptions to provide meaningful feedback on model outputs. Oversee the model validation process to pinpoint limitations, evaluate model stability, and monitor the resolution of findings from both internal and external audits, while providing advisory and guidance as needed. Collaborate closely with business units and key stakeholders to cultivate enduring partnerships, thereby gaining deeper insights into their model risk profiles and facilitating forward-thinking risk management strategies. Collaborate with various business units to develop robust model risk mitigation plans that align with the bank’s comprehensive risk management strategy. Offer expert guidance and hands-on assistance to uphold model risk policies, procedures, and all applicable regulatory standards. Assist in managing risk-related discussions and decisions across multiple platforms, aiding the incorporation of model risk insights into operational workflows. Deliver consistent progress reports to the Senior Specialist, Strategic Risk, MI & Governance regarding critical model risk matters and opportunities for ongoing enhancement. Offer expert guidance and support to business units in identifying and addressing model risks, ensuring alignment with organizational objectives and regulatory standards. Develop and deliver instructional sessions focused on model risk awareness, integrating these into the comprehensive risk training framework. Knowledge and Skills: Profound knowledge of model risk principles, methodologies, and established frameworks is required. Demonstrates a comprehensive understanding of the entire banking lifecycle, from customer onboarding to transaction processing, along with detailed awareness of associated products, services, and the underlying model risks inherent in these operations. Demonstrated expertise in utilizing model risk assessment tools and methodologies is essential. Skilled in extracting, refining, cleansing, and analyzing model risk data to derive meaningful risk insights and identify key trends. Possesses a solid understanding of regulatory requirements and industry best practices in model risk management.

Expérience

• Possesses practical experience with risk management systems and relevant tools. Proficient in the principles governing internal control design, implementation, and evaluation, with a clear comprehension of their relevance to model risk management. Strong analytical and problem-solving abilities are essential, along with the capacity to analyze intricate data sets and convey insights in a clear, succinct format. Proficiency in data visualization tools, such as Excel or Power BI, is required, with familiarity in SQL, Python, or related data analysis tools considered advantageous.
• Exceptional attention to detail and a strong dedication to precision are essential. Demonstrates a robust capacity to evaluate model performance, pinpoint constraints, and propose enhancements to bolster both model efficacy and dependability. Qualifications and Experience: A Bachelor’s degree in Statistics, Economics, Quantitative Finance, Data Science, Data Analytics, Actuarial Science, or Risk Management is required. A Master’s degree in Business Studies is considered a valuable asset for this role.
• Banking certification(s) is an added advantage. Seeking a professional with at least three years of hands-on experience in building, validating, monitoring, or analyzing models, or performing quantitative analysis—preferably within the banking or financial services industry. A strong grasp of model lifecycle management, governance principles, regulation techniques, and established industry best practices is essential. Experienced in extracting, analyzing, interpreting, and reporting data using analytical tools, systems, and quantitative methodologies. Analytical expertise in developing comprehensive reports, dynamic dashboards, and strategic insights tailored for senior leadership, governance bodies, and critical stakeholders is required. Proficiency in banking regulations, financial reporting standards, and industry-specific frameworks—such as Basel, IFRS, and ALM—is essential for effective model development, validation, and performance monitoring. Experience with statistical models, forecasting techniques, predictive analytics, stress testing, or related quantitative methodologies will be considered a valuable asset. NMB Bank Plc is an Equal Opportunity Employer, dedicated to fostering diversity and maintaining a gender-balanced workforce. We strongly encourage applications from female candidates and individuals with disabilities. NMB Bank Plc does not require any payment of fees throughout the application or recruitment process. If you encounter any requests for payment, please disregard them as they are not legitimate. Only applicants selected for further consideration will be

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