Specialist; Model Risk, Governance & Control

Job snapshot

NMB Bank Plc is recruiting a Specialist; Model Risk, Governance & Control. The role supports core financial processes and reporting. The post is based in Head Office, Hq.

NMB Bank Plc operates a finance function with reconciliation and reporting at its core.

Role overview

To oversee, govern, and control model risk across the Bank by ensuring that all models (credit, market, liquidity, IFRS9, Stress Testing, Scoring, and other decision models) are developed, validated, implemented, and used in line with regulatory requirements, internal policies, and industry best practices.

Main Responsibilities.

Model Governance & Policy Implementation Drive the operationalization of the banks model risk policy, ensuring alignment with corporate strategy and external regulatory expectations.

maintaining and enhance NMBs central model inventory, ensuring complete, reliable, and up-to-date tracking of all active and proposed models.

Translate complex regulatory directives (BOT, Basel Framework, IFRS) into actionable internal policies, controls, and operating procedures.

providing independent oversight of model risk management and ensure models perform as expected throughout their life cycle.

making sure all model practices align with the the Bank's model risk policy, Bank of Tanzania directives, and global banking standards (e.g., Basel, IFRS 9) Critically review stress testing, scenario models, and data implementation processes so that stable quantitative risk measurement.

Risk Assessment and Control Oversight Develop and apply quantitative assessment methodologies to measure model vulnerabilities, materiality of impacts, and inherent model risks.

Evaluate model performance, monitoring outcomes, data inputs, and underlying assumptions to challenge model outputs constructively.

coordinating model validation process to identify limitations, assess model stability, and track closure of findings from internal/external audits Advisory & Guidance Develop and maintain strong relationships with business units and key stakeholders to understand their model risk profile and support proactive risk management.

Collaborate with business units in developing effective model risk mitigation plans aligned with the bank's overall risk management strategy.

adherence to model risk policies, procedures, and regulatory expectations.. This also covers providing subject matter expertise and practical support.

assisting in facilitating risk-related discussions and decisions across various forums, supporting the integration of model risk insights into business processes.

providing regular updates to the Senior Specialist, Strategic Risk, MI & Governance on key model risk issues, and areas for continuous improvement.

providing support and guidance to business units in understanding and mitigating model risks Conduct awareness and training sessions on model risks as part of broader risk training.

Knowledge and Skills.

In-depth understanding of model risk principles, practices, and frameworks.

Good knowledge of end-to-end banking processes, products, and services, including their inherent model risks.

Proficiency in model risk assessment tools and techniques.

Knowledge of how to extract, clean, analyze, and interpret model risk data to generate risk insights and trends.

Familiarity with regulatory expectations and best practices regarding model risk management.

Working knowledge of risk systems and tools.

Understanding of internal control design, testing, and monitoring principles, and how they relate to model risk.

Strong analytical and problem-solving skills; ability to interpret complex data and present it in a clear, concise manner.

Proficiency in Excel, Power BI, or other data visualization tools.

Knowledge of SQL, Python, or other data analysis tools is a plus.

High level of attention to detail and commitment to accuracy.

Strong ability to assess model performance, identify limitations, and recommending improvements to enhance model effectiveness and reliability.

Key responsibilities

• Providing independent oversight of model risk management and ensure models perform as expected throughout their life cycle.
• Maintaining and enhance NMBs central model inventory, ensuring complete, reliable, and up-to-date tracking of every active and proposed models.
• Assisting in facilitating risk-related discussions and decisions across different forums, supporting the integration of model risk insights into business processes.
• LocationHead Office, Hq.
• Adherence to model risk policies, procedures, and regulatory expectations.. This as well covers providing subject matter expertise and practical support.
• Drive the operationalization of the banks model risk policy, ensuring alignment with corporate strategy and external regulatory expectations.
• Risk Assessment and Control Oversight.
• Providing support and guidance to business units in understanding and mitigating model risks.
• Coordinating model validation process to identify limitations, assess model stability, and track closure of findings from internal/external audits.
• Evaluate model performance, monitoring outcomes, data inputs, and underlying assumptions to challenge model outputs constructively.
• Developing and apply quantitative assessment methodologies to measure model vulnerabilities, materiality of impacts, and inherent model risks.
• Advisory & Guidance.
• Developing and maintain strong relationships with business units and key stakeholders to understand their model risk profile and support proactive risk management.
• Model Governance & Policy Implementation.
• Critically review stress testing, scenario models, and data implementation processes so that stable quantitative risk measurement.
• Position.
• Collaborate with business units in developing effective model risk mitigation plans aligned with the bank's overall risk management strategy.
• Carrying out awareness and training sessions on model risks as part of broader risk training.
• Making sure every model practices align with the the Bank's model risk policy, Bank of Tanzania directives, and global banking standards (e.g., Basel, IFRS 9).
• Providing routine updates to the Senior Specialist, Strategic Risk, MI & Governance on key model risk issues, and areas for continuous improvement.
• Translate complex regulatory directives (BOT, Basel Framework, IFRS) into actionable internal policies, controls, and operating procedures.

Requirements

• NMB Bank Plc does not charge every fee in connection with the application or recruitment process.
• Bachelor's degree in Statistics, Economics, Quantitative Finance, Data Science, Data Analytics, Actuarial Science, or Risk Management Master's degree in business studies is a useful extra.
• Open Careers Portal.
• Experience working with statistical models, forecasting techniques, predictive analytics, stress testing, or remaining quantitative methodologies will be a useful extra.
• We are committed to creating a diverse environment and achieving a gender balanced workforce.
• Female candidates and people living with disabilities are strongly encouraged to apply for this position.
• Solid understanding of model lifecycle management, model governance principles, validation techniques, and industry best practices.
• Banking certification(s) is a useful extra.
• Experience in preparing analytical reports, dashboards, and insights for senior management, governance committees, and key stakeholders.
• Familiarity with banking regulations, financial reporting standards, and industry frameworks relevant to model development, validation, and performance monitoring (e.g., Basel, IFRS, ALM).
• NMB Bank Plc is an Equal Opportunity Employer.
• Proven experience in data extraction, analysis, interpretation, and reporting using analytical tools, systems, and quantitative methodologies.
• Only shortlisted candidates will be contacted.
• Minimum of 3 years relevant experience in model development, validation, monitoring, analytics, quantitative analysis, or related functions inside the banking or financial services sector.
• Ought to you receive a solicitation for the payment of a fee, please disregard it.

Key skills

• Safety & Compliance Auditing
• Risk Assessment & Control
• Python Programming
• Data Analysis
• Business Intelligence
• Financial Reporting
• Budgeting & Forecasting

How to apply

Apply through the NMB Bank Plc careers portal for this specialist.

Apply on the NMB Bank Plc site

Common questions

What role is open?

NMB Bank Plc is recruiting a Specialist; Model Risk, Governance & Control.

Where is the job based?

The post is based in Head Office, Hq.

How do I apply?

Submit your application directly on the employer's official portal: Apply on the NMB Bank Plc site