Full Description

MeDirect is a Maltese digital bank, founded in 2004, with over 160,000 clients and operations in Malta and Belgium. We offer a wide range of financial services to both retail and corporate clients, including daily banking, savings, and corporate services.

We are always on the lookout for determined and hard-working individuals who are eager to take the next step in their career. At MeDirect, we strive to provide an exceptional employment experience, fostering growth, collaboration, and innovation.

Role Overview

• As a Senior Risk Officer – ALM & Model Validation, you will play a key role in supporting the bank’s management of Interest Rate Risk and Credit Spread Risk in the Banking Book (IRRBB & CSRBB) and in the ongoing monitoring of the behavioural assumptions that underpin the bank’s ALM and liquidity models. This role forms part of the bank’s second line of defence (2LOD) within the Financial Risk team.

You will work closely with Treasury, Finance, Risk Analytics, and the ALM team to ensure IRRBB and CSRBB measurement and behavioural modelling (including non-maturing deposits, prepayments, and embedded optionality) are robust, well-documented, and aligned with regulatory expectations. The role also supports the review and monitoring of the bank’s internal models within IRRBB and Liquidity scope.

The selected candidate should be willing to relocate to the specified job location.

Duties and responsibilities

2LOD Oversight and Model Validation Support 2LOD oversight of ALM and treasury operations, including the monitoring and reporting of IRRBB and CSRBB Gain in-depth knowledge of IRRBB calculation tools, and support the migration from the current Excel-based model to a third-party ALM system Support implementation and calibration of interest rate scenarios, including standardised and internal stress scenarios, and automate manual processes where feasible Collaborate on the oversight of behavioural models and assumptions, including non-maturing deposits, prepayment behaviour, and embedded optionality Monitor and challenge other key modelling assumptions related Funds Transfer Pricing (FTP), and commercial margin Assess and monitor the potential impact in IRRBB of misestimating key behavioural assumptions Support the independent validation of ALM, IRRBB, and liquidity models Contribute to the Model Risk Management Framework and the continuous enhancement of model governance standards

Risk Reporting Prepare and deliver timely risk reports, management information and quantitative analyses for senior management, ALCO and the Board Support the production, review and enhancement of risk reporting covering IRRBB, liquidity risk, CSRBB and model risk Perform data analysis and provide insightful commentary on risk trends and emerging risks Ensure risk reporting meets regulatory and internal policy standards Monitor key risk indicators and risk appetite metrics, escalating material issues, breaches and model performance concerns promptly Contribute to ICAAP, ILAAP and stress testing exercises

Required knowledge, skills and experience

• Master’s degree in Econometrics, financial engineering, mathematics, statistics or applied economics
• FRM or PRM certification is considered an advantage
• Minimum 5 years of experience in financial services in the banking or insurance sector
• Strong quantitative and analytical skills, including statistical analysis and model validation techniques
• Proficiency in Excel and statistical tools (e.g., R, Python, SAS, SQL)
• Familiarity with risk management framework and EBA regulatory requirements
• Experience with model development or model validation practices, is an asset
• Good communication, writing and presentation skills in English

Our Package

• At MeDirect, we believe that our people are our greatest strength, which is why we offer a comprehensive benefits package designed to support employee well-being, growth, and overall experience.

Benefits include

• 🏥 Private Health & Life Insurance
• 🏡 Home Office Subsidy
• 🚗 Free Parking
• 📚 Study Grants & Leave
• 💻 Hybrid Working Model & ⏰ Flexible Working Hours
• 🏋️ Gym Subsidy
• 💰 Staff Savings Account with Preferential Interest Rate
• 🏠 Home Loan Subsidy
• 🎁 Yearly Discretionary Performance Bonus