Specialist; Model Risk, Governance & Control

Position

Company
NMB Bank Plc

Location
Head Office, Hq

Job Purpose

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.
Maintain 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.
Provide independent oversight of model risk management and ensure models perform as expected throughout their life cycle.
Ensure 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 to ensure 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.
Oversee 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.
Provide subject matter expertise and practical support to ensure adherence to model risk policies, procedures, and regulatory expectations.
Assist in facilitating risk-related discussions and decisions across various forums, supporting the integration of model risk insights into business processes.
Provide regular updates to the Senior Specialist, Strategic Risk, MI & Governance on key model risk issues, and areas for continuous improvement.
Provide 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 recommend improvements to enhance model effectiveness and reliability.

Qualifications and Experience

Bachelor's degree in Statistics, Economics, Quantitative Finance, Data Science, Data Analytics, Actuarial Science, or Risk Management
Master's degree in business studies is an added advantage.
Banking certification(s) is an added advantage.
Minimum of 3 years relevant experience in model development, validation, monitoring, analytics, quantitative analysis, or related functions within the banking or financial services sector.
Solid understanding of model lifecycle management, model governance principles, validation techniques, and industry best practices.
Proven experience in data extraction, analysis, interpretation, and reporting using analytical tools, systems, and quantitative methodologies.
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).
Experience working with statistical models, forecasting techniques, predictive analytics, stress testing, or other quantitative methodologies will be an added advantage.
NMB Bank Plc is an Equal Opportunity Employer. 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.
NMB Bank Plc does not charge any fee in connection with the application or recruitment process. Should you receive a solicitation for the payment of a fee, please disregard it.
Only shortlisted candidates will be contacted.

Open Careers Portal