Skill Band: Risk Location: London
Type: Temporary Date Posted: 31 Mar 2026
About the job
12 Month Contract
The Risk Methodologies and Analytics (RMA) Team is part of the Bank's Risk division. RMA is a cross functional Risk Management team that reports to the Head of RMA. The team is based in London. The team has various responsibilities regarding methodologies on a quantitative and qualitative basis for Market Risk, Counterparty Credit Risk, Credit Risk, Operational Risk, Liquidity Risk, Business Risk and portfolio modelling relating to Economic Capital.
The quantitative element of the ICBCS Risk Appetite Statement is also the responsibility of the team. RMA is responsible for the following activities across the different risk classes:
- Own, develop and document risk and P2A - economic capital models owned by the Risk Department in the following context:
- Own model monitoring and maintenance activities and resultant model change.
- Support Run-the-Bank (RtB) and Change-the-Bank (CtB) activities with specific focus on methodology related aspects.
- Support stress testing activities.
- Support the New Product and Significant Transaction Approval (NPSTA) process.
- Own model risk governance framework and related activities including regulatory communications insofar as regulatory approved models are concerned.
What you'll be doing
The purpose of the role is to support and further develop the Bank's Model Risk Management framework related to market risk (MR) and counterparty credit risk (CCR) management and take model ownership where appropriate and feasible
We're looking for the following skills and experience. If you don't have all of these but think you could be a good fit for the role, get in touch.
- A degree (or equivalent) (Hons / MSc / PhD) in Physics / Mathematics / Statistics / Finance will be desirable but not essential
- Experience in either MR or CCR modelling either through a model development or model validation role;
- Practical and theoretical mathematical risk modelling knowledge including modelling techniques;
- Proficiency in Python / C# / C++ / Matlab development experience including integration with Microsoft Office.
- Understanding and practical experience of:
- MR modelling experience used in VaR, SVaR, RniV, back testing and stress testing to support historical simulation VaR model.
- Incremental Risk Charge (IRC) model development experience.
- An understanding of front office valuation across trading and banking book.
- Murex experience.
- CCR exposure calculation (risk factor simulation and valuation) and metrics experience
- Responsible for supporting and developing the MR and CCR methodology framework and provide methodological assurance for new product approval process.
- Support regulatory related work in a broad sense covering pillar1 (IMA, FRTB SBA) and pillar 2 (a internal capital /b stress capital framework) in relation to MR / CCR.
- Participation in change the bank strategic initiatives where it crosses over MR / CCR methodology.
- Assist on and take ownership where feasible with setting up RniV calculations related to the IMA model and assist with market data review and calculation used for VaR / SVaR / CCR risk factor calibration.
- Maintain up to date and detailed documentation of the existing risk models (such as IRRBB) and risk methodologies affected by change, meeting regulatory requirements and internal standards.
- Provide detailed pre-emptive justification and ongoing review of the modelling choices and assumptions in support of model risk management.
The RMA team is expected to look beyond the mathematical correctness of the model to the underlying use case / economic context and the related model performance. Essential is to provide a robust model adapted to the situations and markets the bank operates within. Practical knowledge is therefore required in addition to theoretical understanding of the Risk Models.
Model development, implementation, monitoring and change
- Support the ongoing model life cycle activities related to MR and CCR models in particular
- Support development of analytical tools to support data analysis and visualization to support the model life cycle activities.
- Support methodology documentation development and model validation review.
- Support model risk governance and regulatory submission activities.
Systems Developments and New Products
- Participate in the elaboration of tools to automate risk analysis and review framework.
- Participate in the new product and significant transaction approval (NPSTA) process across MR and CCR.
Key interfaces
- Establish a strong working relationship with the RMA Team members, Quantitative Analysis Department (QAD), Global Markets trading function, the Model Validation and the relevant risk management control (MR, CR, OR) and reporting (RAV) and Change the Bank (CtB) teams;
Regulatory and Industry Developments
- Keep ab\u00e9ast of industry best practice in term of relevant quantitative methods and practical implementation and model risk.
Why should you join us?
ICBC Standard Bank Plc (ICBCS) is a leading financial markets and commodities bank, driven to deliver the right outcomes for our stakeholders, clients, counterparties and markets. We benefit from a unique Chinese and African parentage and an unrivalled global network and expertise. We're headquartered in London, with operations in Shanghai, Singapore and New York.
We\u2019re a diverse and close-knit global team. We put people first, giving talented, self-driven professionals the flexibility, rewards and freedom to grow their expertise and realise their potential.
Our vison statement, "Be Yourself, Succeed Together" underpins our drive for an open and transparent culture which values difference, enabling everyone to thrive whilst being themselves. We have an active E, D\u00adI forum and we\u2019re growing other employee network groups, including for women and neurodiversity.
We\u2019re committed to the principle of equal opportunities. All applicants will be treated equally and will be considered on their merits and skills without discrimination.
If you\u2019re excited about becoming part of our team, get in touch. We\u2019d love to hear from you!
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