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SalaryHow will I help?
This is an exciting opportunity to lead the independent validation team that provides oversight, insight and control in relation to high risk prescriptive calculators across all risk classes, AI and Algo trading models. You'll also oversee the design and operating effectiveness of model risk policies owned by the Head of Model Risk while working closely with General Managers in the Risk team and with subject matter experts across all risk classes.
Your key responsibilities include:
- Manage a team overseeing independent validation of high-risk prescriptive calculators, AI, and Algo trading models across various risk classes.
- Conduct the annual review of model risk policies and ensure compliance with policy requirements.
- Ensure model owners, developers, and users meet policy requirements, including those related to the Group Model Register.
- Take responsibility for the effectiveness of controls owned by Model Risk.
- Effectively communicate validation outcomes to calculation owners and approvers.
- Establish positive working relationships with calculation owners, developers, regulatory standard owners, and various internal stakeholders.
- Cultivate a culture of learning and continuous improvement within the team.
- Drive process improvements, including the automation of validation workflows.
You'll play a significant part of the future of a business that has been around for 200 years. Our purpose is to create better futures together. So, we'll back you in the development of your career, internal career prospects, and flexible working. You'll also keep learning to grown, backed by a fantastic team of people with a can-do, supportive structure. Whatever shape your family takes, we offer generous paid and unpaid parental leave for your nominated primary and support carers. This includes leave to organise adoptions, surrogacy, and foster care arrangements. And we continue to pay your super contributions while you take all the time you need to get your new family settled.
What do I need?
We are looking for a candidate who holds excellent tertiary qualifications in finance, mathematics, engineering with knowledge in programming, modeling, or data science with a clear understanding of regulatory requirements, particularly in capital and liquidity risk management, is essential, and familiarity with financial crime regulations is desirable. Experience in model risk policy development would be an advantage, as well as a background in risk management and validation of AI or Machine Learning models. The ideal candidate should bring robust experience in finance and/or risk, showcasing a proven track record of managing diverse responsibilities with a strong focus on execution and continuous improvement.
In addition to technical skills, we value personal attributes such as excellent leadership and coaching abilities. The candidate should demonstrate proficiency in building effective relationships, quickly assimilating information, and managing self and others to meet tight timelines. A results-oriented mindset is crucial, showing determination and resourcefulness to deliver the best possible outcomes. Strong written and verbal communication skills are expected, along with a collaborative approach that welcomes and acknowledges input from others while also knowing how to challenge constructively. Strategic thinking is essential, including the ability to anticipate the unforeseen and consider the long-term consequences of decisions.
What's it like to work there?
We aim to provide one big, supportive team to help us achieve our purpose of creating better futures together. As well as competitive remuneration and a great culture, joining the Westpac family means you will get some of the best banking, wealth and insurance benefits in the market.
We back our employees by helping them work towards industry-recognised qualifications, using online learning, training modules and career planning tools for you to grow with us. We will even pay you to do volunteer or community work.
As an equal opportunity employer, we are proud to have created a culture and work environment that values diversity and flexibility - and champions inclusion.
How do I Apply?
Start here. Just click on the APPLY button.
At Westpac we are committed to providing a supportive culture and creating diverse, inclusive, and accessible workplaces, branches, products and services for our customers, employees, and community. This role is open to experienced candidates seeking a discussion around workplace flexibility. We invite candidates of all ages, genders, sexual orientation, cultural backgrounds, people with disability, neurodiverse individuals, and Indigenous Australians to apply. If you have questions about the recruitment process, please email talentacquisition@westpac.com.au.
Do you need reasonable adjustments during the recruitment process?
We can provide reasonable adjustments for individuals with disability and/or neurodiversity. If you require an adjustment to be made during the recruitment process at any stage, please call 1800 655 592 Option 2.3 or email talentacquisition@westpac.com.au
