Head of Model Risk Governance, Enterprise Risk Management EMEA, Director

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MUFG, one of the world’s leading financial groups with a rich heritage spanning over 350 years and a global presence in more than 50 countries, is seeking a Head of Model Risk Governance for its Enterprise Risk Management team in EMEA. Based in London, this pivotal role offers you the opportunity to shape and oversee model risk governance across a complex and diverse regional portfolio, supporting both MUFG Bank and MUFG Securities EMEA plc. You will be joining an organisation renowned for its commitment to excellence, robust risk management frameworks, and supportive leadership culture. This is your chance to work at the heart of a global network, collaborating with knowledgeable teams and senior stakeholders while enjoying flexible working opportunities and generous pension contributions. If you are passionate about model risk management and eager to make a meaningful impact within a highly respected financial institution, this role provides the perfect platform for your expertise.

• Join MUFG’s prestigious Enterprise Risk Management team in London, where you will play a key role in shaping model risk governance across EMEA and contribute to the group’s holistic risk management strategy.

• Benefit from a collaborative environment that values inclusive practices, supportive leadership, ongoing training opportunities, and flexible working arrangements designed to help you thrive.

• Work closely with senior management, boards, regulators, and technical teams on complex model risk matters, ensuring alignment with global standards and regulatory expectations while advancing your professional growth.

What you'll do:

As Head of Model Risk Governance for Enterprise Risk Management EMEA at MUFG in London, you will be responsible for overseeing the region’s model risk framework. Your day-to-day activities will involve promoting thorough identification and classification of models across multiple business lines. You will leverage your expertise to develop forward-looking validation plans that address new models as well as periodic reviews. Monitoring lifecycle controls will be central to your role as you ensure models are developed, implemented, used appropriately, monitored for performance issues or changes, decommissioned when necessary, and records retained according to policy. You will evaluate mitigation strategies for model risks—such as overlays or contingency measures—and ensure they are governed transparently. Identifying concentrations or emerging risks across portfolios will require your analytical skills so that these exposures are properly reflected in reporting. Collaboration is key: you’ll partner with Internal Audit while preserving independence in assurance processes. Aligning MUFG’s regional programme with global standards is another critical aspect; you’ll establish validation plans alongside owners and developers to maintain technical excellence. Reporting responsibilities extend to senior stakeholders including the Global Head of MRM. Your success in this role hinges on your ability to deliver high-quality validation plans on time while fostering strong relationships across teams.

• Promote comprehensive identification, inventory, ownership, classification, and tiering of models and material quantitative methods within the regional scope to ensure accurate oversight.

• Utilise inventory and risk information to support a forward-looking validation plan that includes new models, periodic reviews, material changes, and event-driven assessments.

• Monitor adherence to model lifecycle controls such as development, approval, implementation, use, performance monitoring, change management, decommissioning, and record retention.

• Evaluate the adequacy of model risk mitigants including overlays, adjustments, restrictions, contingency approaches, and additional controls; ensure these are governed effectively and removed when no longer required.

• Identify concentrations, interdependencies, aggregate exposures, and emerging risks across the regional portfolio; ensure these are reflected in risk appetite statements and management reporting.

• Partner with Internal Audit while maintaining clear lines of accountability and independent assurance to strengthen governance outcomes.

• Promote global alignment of MUFG’s model risk management programme by ensuring consistency with regulatory expectations and globally set policies.

• Establish achievable validation plans for all models by working closely with owners and developers to bring them up to standard.

• Deliver timely risk-based comprehensive validation plans with consistently high technical quality and documentation standards.

• Provide clear reporting of regional model risk to stakeholders including the Global Head of Model Risk Management (MRM) and relevant governance committees.

What you bring:

Your proven track record in model risk management or independent validation within large-scale financial institutions will be invaluable as Head of Model Risk Governance for Enterprise Risk Management EMEA at MUFG. You bring deep expertise in managing geographically dispersed technical teams—ensuring collaboration among managers and senior contributors alike. Your practical knowledge spans various model families including credit risk assessment tools; market exposure calculations; counterparty analysis; treasury operations; stress testing methodologies; capital adequacy evaluations; anti-financial crime systems; as well as financial reporting mechanisms. Understanding regulatory frameworks like PRA SS1/23—and being familiar with international supervisory practices—enables you to align local programmes with global standards seamlessly. Engaging confidently with senior leaders or audit committees on intricate model issues demonstrates your interpersonal strengths. An advanced quantitative degree equips you for rigorous analysis while experience with AI/ML technologies positions you at the forefront of modern governance challenges. Your communication abilities allow you to translate technical findings into actionable insights for stakeholders throughout MUFG’s network. Remaining composed under pressure—with excellent numerical acumen—ensures successful navigation through demanding workloads or deadlines. Mastery of Microsoft Office further enhances your efficiency in producing high-quality reports.

• Extensive experience in model risk management or independent model validation within a complex financial institution is essential for this position.

• Demonstrated leadership of geographically distributed technical teams—including managers and senior individual contributors—is required.

• Deep knowledge of model governance processes and practical experience across multiple model families such as credit, market, counterparty risk, treasury functions, stress testing frameworks, capital calculations, financial crime prevention models or financial reporting tools is vital.

• Strong understanding of PRA SS1/23 requirements along with familiarity with other major global MRM regimes and supervisory practices is highly desirable.

• Experience engaging senior management teams, board committees or Internal Audit functions on complex model risk matters is expected.

• Advanced degree in a quantitative discipline such as mathematics, physics, statistics, economics or financial engineering—or equivalent relevant experience—is mandatory.

• Experience with advanced analytics techniques including artificial intelligence (AI), machine learning (ML), vendor models or related governance considerations is desirable.

• Excellent communication skills enabling you to convey complex concepts clearly across diverse audiences are crucial.

• A calm approach under pressure combined with strong numerical skills ensures effective performance during tight deadlines or challenging situations.

• Proficiency in Microsoft Office applications supports efficient documentation and reporting.

What sets MUFG apart:

MUFG stands out as one of the world’s most respected financial groups—a legacy built on nearly four centuries of trustworthiness and dependability. With headquarters in Tokyo but a truly global reach spanning over 2,300 offices across more than 50 countries—including Europe’s vibrant financial hub in London—the organisation offers unparalleled opportunities for professional growth within an inclusive environment. Employees benefit from supportive leadership that prioritises collaboration between teams while nurturing individual talents through ongoing training initiatives. Flexible working arrangements empower staff to balance their personal commitments alongside career ambitions; generous pension contributions reflect MUFG’s dedication to long-term wellbeing. The company’s commitment extends beyond commercial banking into areas like asset management; securities trading; consumer finance; leasing services—all underpinned by robust enterprise-wide risk frameworks designed for resilience amid evolving market conditions. At MUFG you join not just a workplace but a network where knowledge sharing thrives—where every voice matters regardless of background—and where your contributions help shape sustainable futures for clients worldwide.

What's next:

If you’re ready to take your expertise in model risk governance to new heights within one of the world’s leading financial institutions—apply now!

Apply today by clicking on the link provided.

We are open to considering flexible working requests in line with organisational requirements.

MUFG is committed to embracing diversity and building an inclusive culture where all employees are valued, respected and their opinions count. We support the principles of equality, diversity and inclusion in recruitment and employment, and oppose all forms of discrimination on the grounds of age, sex, gender, sexual orientation, disability, pregnancy and maternity, race, gender reassignment, religion or belief and marriage or civil partnership.

We make our recruitment decisions in a non-discriminatory manner in accordance with our commitment to identifying the right skills for the right role and our obligations under the law.