Specialist; Model Risk, Governance & Control – NMB Bank Plc

Company: NMB Bank Plc
Position: Specialist; Model Risk, Governance & Control (1 Position)
Location: Head Office, Dar es Salaam, Tanzania
Job Type: Full-time
Opening Date: 30 July 2026
Application Deadline: 13 August 2026

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Job Purpose

To oversee model risk governance across the Bank by ensuring that all quantitative models—including credit, market, liquidity, IFRS 9, stress testing, scoring, and other decision models—are developed, validated, implemented, and monitored in compliance with regulatory requirements, internal policies, and industry best practices.

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Key Responsibilities

1. Model Governance & Policy Implementation

• Implement and maintain the Bank’s Model Risk Policy.
• Maintain and update the central model inventory.
• Translate regulatory requirements (Bank of Tanzania, Basel Framework, IFRS) into internal policies and procedures.
• Provide independent oversight of model risk management throughout the model lifecycle.
• Ensure compliance with:
  • Bank of Tanzania regulations
  • Basel Framework
  • IFRS 9
  • Internal model risk policies
• Review stress testing, scenario models, and data implementation processes.

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2. Risk Assessment & Control

• Develop quantitative methodologies to assess model risk.
• Evaluate model performance, assumptions, and input data.
• Monitor model validation activities.
• Identify model limitations and weaknesses.
• Track implementation of audit findings and corrective actions.
• Assess model stability and effectiveness.

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3. Advisory & Stakeholder Support

• Build strong relationships with business units.
• Support departments in identifying and mitigating model risks.
• Provide guidance on model governance and regulatory compliance.
• Participate in risk discussions and governance forums.
• Report key model risk issues to the Senior Specialist, Strategic Risk, MI & Governance.
• Deliver awareness sessions and model risk training across the Bank.

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Required Knowledge & Skills

Applicants should have knowledge of:

• Model risk management frameworks.
• Banking products, services, and associated model risks.
• Model validation techniques.
• Quantitative risk assessment methodologies.
• Data extraction, analysis, and interpretation.
• Internal controls and governance.
• Banking regulations including:
  • Basel Framework
  • IFRS
  • Bank of Tanzania directives
• Risk management systems and analytical tools.

Technical skills include:

• Microsoft Excel
• Power BI
• SQL (an advantage)
• Python (an advantage)
• Strong analytical and problem-solving skills.
• Excellent attention to detail.
• Ability to communicate technical findings clearly.

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Qualifications

Applicants must possess:

• Bachelor’s degree in:
  • Statistics
  • Economics
  • Quantitative Finance
  • Data Science
  • Data Analytics
  • Actuarial Science
  • Risk Management

Added Advantages

• Master’s degree in Business or related field.
• Professional banking certifications.

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Experience

Candidates should have:

• Minimum 3 years of relevant experience in:
  • Model development
  • Model validation
  • Model monitoring
  • Quantitative analysis
  • Risk analytics
  • Banking or financial services

Additional experience in the following will be an advantage:

• Statistical modelling
• Forecasting
• Predictive analytics
• Stress testing
• Basel Framework
• IFRS 9
• Asset and Liability Management (ALM)
• Dashboard development and management reporting.

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Equal Opportunity

NMB Bank is an Equal Opportunity Employer committed to building a diverse and inclusive workforce.

The Bank strongly encourages applications from:

• Female candidates
• Persons living with disabilities

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Important Notice

• NMB Bank does not charge any application or recruitment fees.
• Only shortlisted candidates will be contacted.

CLICK HERE TO APPLY