Credit Risk Manager – Model Development (Retail IRB / IFRS 9)

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 [phone removed] or submit your CV using the link below