Overview

Location: Hybrid / London (UK-based)
Salary: £40,000 to £90,000 depending on experience
Employment Type: Full-time

About the Role

Our client, a leading financial consultancy, is seeking an experienced Credit Risk Manager to lead the development of retail credit risk models under IFRS 9 and IRB frameworks.

This is a fantastic opportunity for a highly skilled risk professional to take ownership of end-to-end model development while managing a talented team of Senior Consultants. The successful candidate will report directly to the Partner/Technical Director and play a key role in delivering regulatory-compliant, business-relevant credit risk models to major banking clients.

Key Responsibilities

  • Lead the design, enhancement, and maintenance of retail credit risk models (PD, LGD, and EAD) under IFRS 9 and IRB.

  • Manage and mentor a team of Senior Consultants to deliver high-quality, robust, and compliant modelling solutions.

  • Ensure all models meet PRA, EBA, and Basel 3.1 regulatory standards.

  • Conduct and review statistical analysis, calibration, back-testing, and monitoring to ensure model accuracy and performance.

  • Provide technical expertise in Python, SAS, and SQL for model development and validation.

  • Engage confidently with regulators, validation teams, and senior stakeholders, communicating complex results clearly.

  • Promote innovation by integrating machine learning and advanced analytics into modelling approaches.

  • Oversee project timelines, resources, and deliverables to meet internal and client expectations.

  • Contribute to training, mentoring, and capability development across the modelling team.

  • Maintain full documentation and governance across all model risk management activities.

Required Experience & Qualifications

  • MSc or PhD in a quantitative field (e.g. Mathematics, Statistics, Economics, or Finance).

  • Proven experience developing and validating retail credit risk models under IFRS 9 and/or IRB.

  • Deep understanding of PRA and EBA guidelines and Basel regulatory frameworks.

  • Strong programming skills in Python, SAS, and SQL.

  • Solid grasp of statistical techniques such as logistic regression, survival analysis, and machine learning.

  • Excellent stakeholder management and communication skills.

  • Experience managing or mentoring analysts or consultants in a modelling environment.

  • Strong project management and organisational abilities.

Desirable Skills

  • Experience gained within Tier 1 banks, challenger banks, or consultancies.

  • Knowledge of climate risk, stress testing, and capital modelling frameworks (ICAAP, CCAR).

  • Familiarity with model risk management principles (SR 11-7, PRA SS1/23).

  • Demonstrated innovation in applying advanced analytics or automation to credit risk modelling.

Why Apply?

This is an excellent opportunity to take on a leadership role within a high-performing consultancy known for technical excellence and strong regulatory relationships. The role offers career progression, diverse project exposure, and flexible working options.

Please get in touch with the team on 02085497212 or submit your CV using the link below

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