Leading Specialist in Model Risk Management

Pasha Insurance OJSC invites candidates to apply for the position of Leading Specialist in Model Risk Management within the Risk Management Department and become a member of its professional team. Duties and Responsibilities: Classify quantitative methods used as models or tools, determine model tiers, monitor model risk levels, and assess the justification of model development and modification in accordance with the Company's internal policies and procedures; Create and continuously update comprehensive inventories of models and tools; Monitor the implementation of models used in relevant systems and platforms; Assess and document the appropriateness of models for their intended purpose, including their limitations; Conduct stress testing and sensitivity analysis to measure model performance under various scenarios; Develop Key Risk Indicators (KRIs) for model risks and perform ongoing monitoring; Participate in the development and updating of policies, procedures, and methodologies related to model risk management; Regularly participate in model risk assessments and contribute to the preparation of the risk map based on assessment results; Contribute to the enhancement of the Model Risk Management Framework in line with best practices, ensure coordination with stakeholders regarding internal document requirements, and identify non-compliance issues during implementation; Provide proposals for the calculation of model risk limits; Participate in the preparation of the Risk Appetite Statement; Analyze data obtained from other departments, electronic information systems, and external sources for the purpose of assessing and managing model risks; Assess model risks using mathematical and statistical methods; Provide advisory and methodological support to other departments regarding model risk issues; Participate in the preparation of relevant internal reports; Perform other tasks assigned by the direct supervisor.