Handelsbanken
Model Risk Management Senior Analyst
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Job Introduction
Handelsbanken is a relationship bank built on trust, long-term thinking and local decision-making. We provide bespoke banking and wealth management services to personal and corporate customers.
Our decentralised model means decisions are made close to the customer, in our branches. Our central Functions teams play a vital role in supporting the branch network, providing the expertise, governance and infrastructure that enable branches to serve customers effectively and sustainably.
This approach had underpinned our success for decades. Handelsbanken is independently recognised as one of Europe’s safest commercial banks, holds the strongest credit rating among its peers and is consistently ranked highly for customer satisfaction and relationship banking.
Our culture is values-led, shaped by trust, respect, and long-term thinking. We empower our people to use their expertise, make confident decisions and build long-term careers. We look for people who share our long-term vision, want to grow and want to make a meaningful impact in their local community and with the Bank.
We also recognise that flexibility can support people to perform at their best, and that it looks different for everyone. While arrangements will depend on the requirements of the role and the needs of the business, we are open to having a conversation around what flexibility could look like for you.
Check our Handelsbanken website for further information.
The opportunity
We are looking for a Model Risk Management Senior Analyst to join the Bank.
The Model Risk Management (MRM) team sits within the UKR Risk department and is responsible for the design and maintenance of the Bank's Model Risk Management framework, ensuring robust model governance, independent challenge and effective oversight of models across the Bank.
As the Bank continues its deliberate and disciplined adoption of Artificial Intelligence (AI), the MRM team is expanding its remit to provide independent validation, challenge and governance of AI systems and AI-enabled use cases. The Bank does not seek to be a first mover in AI technologies; instead, it aims to adopt and scale AI capabilities where benefits can be clearly demonstrated and where appropriate governance, controls and oversight mechanisms are in place.
This role offers a unique opportunity to join the Bank at an early stage of its AI journey and contribute to the development and embedding of the Bank's AI Model Risk Management Framework. The successful candidate will support the independent review, validation and ongoing oversight of AI systems and use cases, including Generative AI (GenAI), Large Language Models (LLMs), Agentic AI solutions and third-party AI-enabled applications.
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The role will be responsible for ensuring that AI-related risks are appropriately identified, assessed, documented, challenged and monitored throughout the lifecycle of AI use cases, in line with the Bank's risk appetite, governance standards and regulatory expectations, including PRA SS1/23.
Key Responsibilities
- Perform independent reviews, validations and risk assessments of AI systems, AI-enabled use cases and existing models, providing objective challenge and oversight;
- Support the implementation and ongoing enhancement of the Bank's AI Model Risk Management Framework, Validation Standards and associated governance processes;
- Assess whether key AI risks have been appropriately identified, documented, mitigated and monitored throughout the lifecycle of AI use cases;
- Support the identification, registration, validation and ongoing monitoring of in-scope AI systems and use cases;
- Contribute to the development and maintenance of a risk-based AI Risk Rating methodology to support proportionate oversight and governance;
- Maintain the Bank's AI Use Case Inventory, ensuring it remains accurate, complete and up to date;
- Prepare validation findings, risk assessments and recommendations for presentation to relevant governance forums, including the Model Oversight Committee (MOC);
- Engage with stakeholders across Risk, Technology, Information Security, Data Governance, Compliance, Legal and Change functions to support effective AI governance and oversight;
- Monitor regulatory developments and industry best practice relating to model risk management and AI governance, supporting the continuous enhancement of Bank frameworks and standards.
What We’re Looking For
Research (by Harvard University) shows that women are particularly likely to second guess themselves and not apply - so if you are worried you don't meet all the criteria, get in touch anyhow and let us do the worrying…
- Experience in model risk management, quantitative risk, validation, analytics, technology risk, data science or a related discipline within financial services;
- Experience reviewing, validating or providing oversight of quantitative models, analytical tools, risk methodologies or technology-enabled solutions;
- An understanding of model risk management principles and regulatory expectations, including familiarity with PRA SS1/23 or equivalent guidance;
- Strong analytical and problem-solving skills, with the ability to identify key risks, challenge assumptions and provide independent judgement;
- An interest in Artificial Intelligence, Generative AI and emerging technologies, and an appreciation of the opportunities and risks they present within a regulated environment;
- Understanding of key AI risk themes, such as transparency, bias, explainability, governance, data quality, privacy, security and human oversight;
- Experience using data analysis or programming tools such as Python, SQL, R or similar technologies;
- Ability to understand and assess complex technical concepts, even where direct subject matter expertise may not exist;
- Strong communication and report-writing skills, with the ability to explain technical concepts and validation findings to both technical and non-technical audiences;
- A naturally curious mindset, strong attention to detail and a desire to learn, challenge and contribute to the safe and responsible adoption of AI.
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Why join Handelsbanken
We want everyone at Handelsbanken to feel supported, motivated, and able to do great work. That’s why, alongside brilliant colleagues, meaningful work and training and development opportunities, we provide a variety of benefits designed with your wellbeing in mind.
In addition, there is a flexible benefits package with the key highlights detailed below.
Application next steps
Your journey with us begins once you have submitted your application. One of our Handelsbanken Talent Acquisition Partners will be reviewing your details and will later organise a phone conversation if your experience aligns with our requirements, we will extend an invitation for you to participate in an interview.
This advert will be live for a minimum of two weeks. However, please note that after the two weeks, the closing date could change at any time depending on the number of responses received.
The Bank is deeply committed to embedding good equality and diversity practice into all of our activities. This is so that we are an inclusive, welcoming and inspiring place to work that encourages everyone to apply, regardless of socio-economic background, age, disability, pregnancy and/or parental status, race (including colour, nationality, and ethnic or national origin), veteran status, marital and civil partnership status, religion or belief, sex, gender reassignment or sexual orientation.
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