Specialist; Model Risk, Governance & Control Job at NMB Bank

NMB Bank Plc is seeking a qualified professional for the position of Specialist; Model Risk, Governance & Control in Dar es Salaam. The role is responsible for overseeing model risk across the bank and ensuring that critical models used for credit, market and liquidity risk, IFRS 9, stress testing, scoring, and other decision-making processes are properly governed and controlled.

The successful candidate will provide independent oversight throughout the model lifecycle, from development and validation to implementation, monitoring, and retirement. The position also involves interpreting regulatory requirements, assessing model vulnerabilities, reviewing assumptions and data, supporting model validation, and working with business units to strengthen model risk management practices.

Responsibilities

• Drive the implementation of the bank’s Model Risk Policy in alignment with corporate strategy and regulatory expectations.

• Maintain and enhance NMB’s central model inventory, ensuring all active and proposed models are accurately tracked.

  

• Translate Bank of Tanzania, Basel, and IFRS requirements into practical internal policies, controls, and operating procedures.

• Provide independent oversight of model risk and monitor model performance throughout the model lifecycle.

• Ensure model management practices comply with the bank’s Model Risk Policy, Bank of Tanzania directives, and global banking standards.

• Review stress testing and scenario models to assess the reliability of quantitative risk measurements.

• Review data implementation processes supporting risk and decision models.

• Develop and apply quantitative methodologies for assessing model vulnerabilities and inherent model risks.

• Evaluate model performance, monitoring results, data inputs, assumptions, and outputs.

• Constructively challenge model outputs where weaknesses, limitations, or inconsistencies are identified.

• Oversee model validation activities and ensure identified limitations and findings are properly addressed.

• Track the closure of model-related findings from internal and external audits.

• Maintain strong relationships with business units and key stakeholders to understand their model risk profiles.

• Support business units in developing model risk mitigation plans.

• Provide subject matter expertise on model risk policies, procedures, controls, and regulatory requirements.

• Support risk-related discussions and decision-making across relevant governance forums.

• Help integrate model risk insights into business and risk management processes.

• Provide regular updates to the Senior Specialist, Strategic Risk, MI & Governance on key model risk issues and improvement opportunities.

• Provide guidance to business units on identifying, assessing, and mitigating model risks.

• Conduct awareness and training sessions on model risk management.

Qualifications and Requirements

• In-depth understanding of model risk principles, practices, and frameworks.

• Good knowledge of banking processes, products, and services and their associated model risks.

• Proficiency in model risk assessment tools and techniques.

• Ability to extract, clean, analyze, and interpret model risk data.

• Ability to generate meaningful risk insights, trends, and management information from data.

• Knowledge of regulatory expectations and industry best practices relating to model risk management.

• Working knowledge of risk management systems and tools.

• Understanding of internal control design, testing, and monitoring principles.

• Strong analytical and problem-solving skills.

• Ability to interpret complex quantitative information and communicate findings clearly.

• Proficiency in Microsoft Excel and Power BI or other data visualization tools.

• Knowledge of SQL, Python, or other data analysis tools is an added advantage.

• Strong attention to detail and commitment to accuracy.

• Strong ability to assess model performance and identify model limitations.

• Ability to recommend improvements that enhance model effectiveness and reliability.

How to Apply

Interested and qualified candidates should submit their applications through the official NMB Bank recruitment portal.

Applicants should search for the Specialist; Model Risk, Governance & Control position and follow the instructions provided on the portal to complete the application.

Application Deadline: 13 August 2026

Final Thought

The Specialist; Model Risk, Governance & Control position is suited to professionals with strong quantitative, analytical, risk management, and banking knowledge. Candidates who understand model governance, model validation, regulatory requirements, data analysis, and internal controls will be well positioned to contribute to the bank’s model risk management framework.