Model Risk Analyst

About Discovery

Discovery’s core purpose is to make people healthier and to enhance and protect their lives. We seek out and invest in exceptional individuals who understand and support our core purpose, and whose own values align with those of Discovery. Our fast-paced and dynamic environment enables smart, self-driven people to be their best. As global thought leaders, Discovery is passionate about innovating in order to not only achieve financial success, but to ignite positive and meaningful change within our society.

About Discovery Bank

We're the world's first behavioural bank, designed with our clients in mind. We haven't changed just one thing, we've changed everything. Our main goal is to improve the financial health of our clients by helping change how they work with their money. Through Vitality Money, our clients will learn more about what it means to be financially healthy and get rewarded for managing their money well.

If you are a problem solver, always questioning the way things are done, passionate about doing what is right, have the ability to change direction quickly when needed and love to dazzle your clients, Discovery Bank could be the place for you. We welcome inspired, positive and committed people to apply for jobs in Discovery Bank where you will be liberated to realise your full potential.

Role Overview

Join the Balance Sheet Management team as a Model Risk Analyst, where you'll support the development and maintenance of the model risk control cycle. In this role, you'll collaborate with stakeholders across the Bank to regularly assess model performance and identify areas of concern. You’ll also be responsible for validating and documenting new model processes, while contributing to the team’s reporting and analytical insights for Discovery Bank stakeholders — ensuring both accuracy and integrity.

The ideal candidate values the strategic importance of risk management and is eager to build a career in data analysis, model validation, quantitative techniques, and balance sheet risk reporting.

Areas of responsibility may include but not limited to

• Stay abreast of developments in banking model development and prudential reporting practices
• Assist with formalising model risk practice and control cycles on new and existing Discovery Bank products
• Ensure models across the Bank remain fit-for-purpose and are subject to regular review
• Engage with Model Risk Committee stakeholders and support robust model governance practice
• Ensure integrity and accuracy of data in BSM risk reports and model development pipelines
• Collaborate with IT/data teams to troubleshoot data issues and optimise data workflows for scalability

Personal Attributes and Skills:

• Innovative and creative thinker who can think outside of the box to solve industry problems and develop new customer propositions.
• Strong analytical skills and keen eye for detail
• Able to cope with the pressure, setbacks and the fluid nature of a start-up business
• Enjoy working with a team

Competencies:

• Problem Solving
• Dealing with Ambiguity
• Customer Focus
• Ethics and Values
• Integrity and Trust
• Intellectual Horsepower
• Learning on the Fly
• Presentation Skills

Education and Experience

• Bachelor’s or Honours degree in Actuarial Science, Mathematical Statistics, Financial Engineering or related fields will be considered.
• For ASSA students, a qualification plan that includes subjects F107/F207 is advantageous
• Experience with SQL, SAS Enterprise Guide, Python, Calypso, Powerpoint and/or Excel is advantageous.
• Two years of work experience, especially in retail banking, is beneficial.

 EMPLOYMENT EQUITY

The Company’s approved Employment Equity Plan and Targets will be considered as part of the recruitment process. As an Equal Opportunities employer, we actively encourage and welcome people with various disabilities to apply.

EMPLOYMENT EQUITY   
                             
The Company’s approved Employment Equity Plan and Targets will be considered as part of the recruitment process. As an Equal Opportunities employer, we actively encourage and welcome people with various disabilities to apply.