Manager, Climate Risk Models

A new team is being established within ERM charged with building out second line Climate Risk management capabilities, in terms of risk identification, measurement and integrating these into governance and existing risk processes and partnership with the business. This role will support the Head, Climate Risk Models in the required enhancements to existing risk management capabilities in line with emerging regulatory expectations.

• Subject-matter-expert concerning climate risk modelling (both physical risk and transition risk) and the use of climate risk models for credit risk and financial stress testing.
• Support initiatives to build out Climate Risk scenario analysis / stress testing capabilities covering Physical and Transition Risks, and for use in BAU client and transactional assessments.
• Assess emerging Climate Risk scenarios (e.g. NGFS, IEA), climate stress testing industry practices and supervisory expectations and develop a roadmap for establishing in-house capabilities.
• Support the evaluation of external vendor solutions to help fill gaps in internal data and/or analytical capabilities in the short run. Work collaboratively with vendors where necessary.
• Work to develop climate scenarios as well as translate climate risk scenarios to macro-economic and market variables necessary for stress testing.
• Work with Model Risk Management to ensure adherence to model risk policy requirements.
• Collaborate with local teams to support the delivery of supervisory climate risk scenario analysis and stress testing as they emerge (e.g. Europe / UK / Asia).
• Contribute to the broader Climate Risk team in building out best-in-class first line climate risk management capabilities.
• Customize internal transition risk scenarios to help build and evolve the internal climate scenario framework.
• Interrogate, assess and choose appropriate models from external parties, including vendors.
• Establish requirements and work with Risk CDO and team in order to collect data on transition risk impacts and risk-related scenario analysis.
• Where projects arise collaborate with our academic partners on research opportunities for developing bespoke climate risk modelling and represent the Bank at academic / industry working groups.
• Support engagement with key footprint countries as well as risk and business stakeholders on the topic of Climate Risk. Ensure the model outputs are fit for purposes not only for regulatory purposes, scenario analysis and stress testing but also for daily business usage, underwriting decisions, risk appetite decisions and strategy design.
• Assess the downstream impact of models to understand its network risk. Participate in relevant model implementation and its user acceptance test to ensure models are appropriately implemented not only within the direct system environment but also its relevant downstream environments. Help policy team to provide model usage guidance to users and address users' feedback.
  

Knowledge/Experience

• Climate scenario development and scenario expansion modelling experience or knowledge of Risk modelling within a financial services setting.
• Familiarity with conventional transition scenario modelling and tools, including Integrated Assessment Models (IAMs), Simulation Models and Probabilistic Models.
• Familiarity with the increasing regulatory expectations facing banks with respect to climate risk
• Knowledge of financial products.
• Excellent analytical skills and comfortable working with large datasets; expertise in econometrics and other quantitative methods is highly desirable.
• Experience in dealing with change projects and/or building / delivering new capabilities.
• Experience of liaising across diverse stakeholder groups; including senior managers, and large firm networks.

Academic and professional background:

• Experience in developing or validating quantitative models (at least 5 years) in areas related to climate risk.
• Climate Risk model development experience in a Financial/Insurance industry setting.
• Home and Host Regulatory Framework and Requirements: Awareness and understanding of the regulatory framework in which the firm operates.
• Good knowledge of banking risk management, a knowledge of Basel/CRR/EBA/IFRS 9 regulations and standards.
• Understanding of Corporate, Institutional, and Commercial & Retail portfolios and products.
• Strong academic background (PhD is preferable) in a highly quantitative discipline, including economics, stats or math's.
• Understanding of application of climate risk models, climate science and the key issues that surrounds climate risk areas.
• Strong programming skills (Python, R, SAS, SQL, VBA, etc.).

Interpersonal skills:

• The candidate should be highly motivated to rapidly advance the firm's plan to establish a comprehensive climate risk management framework against an ambitious timeline.
• Strong communication and project management skills.
• Strong focus on quality control and attention to detail.
• Analytical and independent thinker.
• Excellent attention to detail and good time management.
• Initiative, creativity and problem solving.

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About Standard Chartered

We're an international bank, nimble enough to act, big enough for impact. For more than 160 years, we've worked to make a positive difference for our clients, communities, and each other. We question the status quo, love a challenge and enjoy finding new opportunities to grow and do better than before. If you're looking for a career with purpose and you want to work for a bank making a difference, we want to hear from you. You can count on us to celebrate your unique talents. And we can't wait to see the talents you can bring us.