Senior Validation Specialist

The Independent Validation Specialist (IVS) is a critical role responsible for ensuring the organization’s risk data aggregation and risk reporting processes align with the “Basel Committee on Banking Supervision’s (BCBS) principles for effective risk data aggregation and risk reporting” and internal Data Governance Framework. This position requires strong analytical and problem-solving skills, along with expertise in risk management, data analysis & IT Skill, and regulatory compliance. Compliance with BCBS 239 principles is essential for maintaining the stability and integrity of financial institutions.

Moreover, IVS evaluate risk management systems, provides recommendations for improvement, and prepares detailed validation reports. This role requires a deep understanding of BCBS 239 requirements, strong analytical skills, and the ability to work independently.

Additionally, the IVS is responsible to maintain the following tools in accordance with the underlying regulation to adequately performing his duty:

• Validation Model

• Validation Assessment

• Validation Report

The team member conducts (in accordance with the seniority level) as part of a validation team the IVS compliance rating of RBI Entities (Group and single entities) as well as Tribes and departments relevant for risk data aggregation for BCBS compliance. These validations are consisting out of a potential Fire drill exercise, reading the provided information of the validated party and selecting a compliance level and conducting a validation report summarizing the findings and bringing it to the attention of the validated part and respective stakeholders. The outcome of the validation is and progress if needed is shared with predefined bodies continuously such as Data Governance OSC, Data Governance Board, BoM and SB depending of the severity of the findings.

The core facts:

• Ensure & drive compliance with BCBS 239 principles , relevant regulatory standards, and internal regulations.
• Conduct comprehensive reviews and assessments of the bank’s risk data aggregation, reporting methods, processes, systems, tribes, departments and entities.
• Proactively identify potential areas of compliance vulnerabilities and risks, develop and implement corrective action plans, and provide guidance to prevent future issues.
• Prepare and present detailed validation reports on a regular basis to senior management and other stakeholders, providing insights into the operation and progress of compliance efforts.
• Collaborate with Risk Management, Internal Audit, IT, and other departments to address compliance issues and facilitate investigation and resolution.
• Stay updated on regulatory standards and guidelines related to risk data aggregation and reporting, incorporating changes into the organization’s practices and conduct updates in the Independent Validation Model if needed.
• Creates and maintains a BCBS training approach and actively conducts trainings of the banks staff on compliance-related matters.
• Actively participate in high-level committees and forums related to risk management and compliance, representing the organization’s interests and contributing to industry best practices.
• Facilitates committees and prepares decision points related to risk management and compliance.
• Continuously update the Validation Approach to align with new regulatory requirements and advancements in state-of-the-art Risk Data Aggregation Mechanisms.
• Monitor regulatory and internal findings, ensuring timely and accurate resolution of BCBS compliance matters in strong alignment with Group Data Governance
• Holds contact with affected teams of the department and supports in collecting their improvements.
• Challenging function for Projects/Tribes how to derive an implementation plans to achieve BCBS compliance .
• Provide guidance and support to junior validation specialists, promoting knowledge sharing.

Core competences:

• Extensive knowledge of BCBS 239 principles and relevant banking regulations, including European regulations (CRR/CRD IV), especially chapters about regulatory standards/reporting in his/her task area
• Knowledge in banking products
• Master’s degree in finance, Economics, IT, Mathematics or a related field. Advanced degrees or certifications (e.g., FRM, CFA) are preferred,
• Project Management & Leadership Skill
• Good Knowhow of state of the art IT infrastructure, Architecture and Reporting Principles
• Minimum 7 years of experience as consultant or project manager in the financial services industry or comparable or similar experience in banking of financial industry or in a regulatory reporting environment / risk data aggregation/ or strategic risk management context
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