The Role: Leads the Quality and Model Governance team (Q&MG), performing independent reviews of S&P Global Platts price assessments and analytic models, fulfils the role of Model Governance Advisor to the Platts Analytics Management Board and a member of the Platts Business Controls & Quality (BCQ) leadership team. BCQ forms part of Platts Content's first line of defense and governance structure, overseeing business controls and operational risk across Pricing and Analytics functions. In turn, BCQ sits within Content Operations Group (COG) with a reporting line to Platts Chief Operating Officer (COO).
The Q&MG team is mandated to perform independent deep dive reviews of Platts (a) price assessments (methodology, data, tools and process) - known as Price Assessment Quality Reviews (PAQR) - and (b) deliver "effective challenge" to Analytics models, considering both their "conceptual soundness" with respect to expressed purpose and the completeness and accuracy of coding. The independent reviews are "bottom up" reviews of risk and quality, to provide assurance and transparency, and to be part of management's drive for continuous improvement across Platts commodity price assessments and Analytics models. The position has 4 direct reports: two Pricing Quality Managers (in London and Houston) and two Model Review Analysts (in Denver).
Grade ( relevant for internal applicants only ): 12
The Location: Denver, Houston, New York, London
The Team: The independent review team is embedded within BCQ, providing assurance and controls expertise to Content leadership. BCQ focuses on ongoing monitoring and improving adherence to editorial standards, regulatory requirements and key controls in Pricing and model risk management in Platts Analytics. BCQ seek to continually improve controls and optimize processes through the assessment of operational risk in Content processes.
The Impact: Q&MG independent reviews are positioned to contribute strongly in the execution and delivery of Platts strategic themes, Advance Benchmarks and Deliver World-Class Analytics. Our deep dives have the opportunity of impacting customer experience, driving remediation and continuous improvement through the review cycle and providing assurance that high quality is maintained. PAQR subjects include reviews of Platts benchmarks that fall within the scope of European Benchmark Regulations (EBMR) and IOSCO Principles for Oil Price Reporting Agencies (PRA).
The role enables the individual and her/his independent review colleagues to make a real difference within the organization, creating a platform for their findings on controls, quality and efficiency that can contribute towards strategic business implementations, improving pricing data and analytic modelling and the work of the front line, price assessment and Analytics teams.
Our Hiring Manager says: Independent Reviews are growing in importance within S&P Global. Achievements through independent reviews creates a broad range of opportunities for further career growth and progression. Leading Q&MG is a great means to enhance business knowledge and build team leadership, project management and problem solving experience. BCQ is a key part of the 3 lines of defense model at S&P Global Platts. Being part of the 1st line structure has the advantage that the Associate Director, Quality and Model Governance is close to the business and knowledgeable in their processes, creating the opportunity to drive real outcomes. The balance between owning deliverables directly in the team, and improving outcomes by influencing elsewhere in the organization and helping to inform strategy, makes this a rich, rewarding and exciting role. The Associate Director, Quality and Model Governance will work with and have exposure to Content leadership, across both Price Assessment and Analytics. Additionally, there are opportunities for cross-divisional co-operation and experience sharing with other independent review teams in the other S&P Global divisions.
What's in it for you: This team leader role offers great exposure to Platts business globally, managing independent reviews of Platts price assessments and Analytics models, with major centers in Asia, Europe and North America. The individual will build experience across Platts Content functions, develop skills in management and leadership of a regionally distributed team, each conducting separate independent review projects. The role gives the individual the opportunity to:
develop and hone operational risk management skills;
develop strategic leadership and project management skills;
develop an extensive and thorough grounding and understanding of all Platts price assessment procedures and methodologies;
develop knowledge and understanding of analytic modelling techniques;
develop knowledge and understanding of the global commodity markets served by Platts;
work with colleagues across S&P Global divisions fulfilling similar independent review, model governance and operational risk management functions;
The Associate Director has the ability to drive actual outcomes across these teams through leadership and influence, as well as defining and using governance channels.
Responsibilities: Lead the Quality and Model Governance team delivering a program of high quality independent reviews of both price assessments (PAQRs) and Analytics models. Ensure that the reviews are performed to a consistent and high standard. Serve as Model Governance Adviser and member of the Analytics Management Board advising and supporting the model risk management. Maintain a log of the remediation actions resulting from independent review findings and drive timely delivery of the agreed actions through the agreed governance processes.
Work alongside colleagues in BCQ, Enterprise Risk Management and others in the fulfillment of S&P Global risk management and control goals, including the Platts front line in price assessment and Analytics.
Lead the Quality and Model Governance team in a manner that engages, develops, builds and exports talent consistent with S&P Global values.
What We're Looking For: The Essential Skills are listed below and the opportunities to develop a broad range of skills and experience in What's in it for you detailed above. The successful candidate will be able to satisfy the Essential Skills , as described, on appointment to the role and be able to demonstrate the ability to build the depth of their knowledge and experience in the role.
Bachelor's degree or equivalent experience required, (related field preferred);
Master's degree or professional business qualification in related field preferred;
Knowledge of and exposure to operational risk management;
Knowledge of and exposure to commodities markets required;
Knowledge of and exposure to wholesale market pricing functions required (commodities markets preferred);
Project management experience required;
Team leadership experience required (global, multi-office environment an advantage).
Experience within Platts (or other PRA) commodities pricing or Analytics functions (front line experience);
Experience within a commodity trading firm or financial institution active in commodity markets;
Subject matter expertise in at least one energy/global commodity market, with an appreciation of how commodity markets connect;
Knowledge of model risk management regulatory standards and guidelines, including SR Letter 11-7;
Highly structured, analytical and detail oriented with the initiative and curiosity to spot issues, ask questions and to get to the root cause of a business situation;
Digital technology project experience, either as user or in technology delivery role;
An inquiring mind, capable of thriving in a fast-paced, dynamic environment and comfortable with changing priorities;
Excellent communication and presentation skills, good listener, clear, concise writing style and good verbal skills allied to good interpersonal skills with ability to build trusting and strategic relationships/networks;
Skilled in working well in a team environment, focusing on collaboration, flexibility and adaptability;
Act with accountability: strong drive for results and getting deliverables over the line including where these may be beyond your direct span of control (tenacity and resilience);
The ability to unite and inspire a group towards a common goal, and hold others to account;
Excellent numeracy and ability to analyze data;
Business Intelligence skills providing program transparency to leadership through reporting;
Quantitative modelling and coding experience
At S&P Global Platts, we provide the insights; you make better informed trading and business decisions with confidence. We're the leading independent provider of information and benchmark prices for the commodities and energy markets. Customers in over 150 countries look to our expertise in news, pricing and analytics to deliver greater transparency and efficiency to markets. S&P Global Platts coverage includes oil and gas, power, petrochemicals, metals, agriculture and shipping.
S&P Global Platts is a division of S&P Global (NYSE: SPGI), which provides essential intelligence for individuals, companies and governments to make decisions with confidence. For more information, visit www.platts.com.
S&P Global is an equal opportunity employer committed to making all employment decisions without regard to race/ethnicity, sex, pregnancy, gender identity or expression, color, creed, religion, national origin, age, disability, marital status (including domestic partnerships and civil unions), sexual orientation, military veteran status, unemployment status, or any other basis prohibited by federal, state or local law. Only electronic job submissions will be considered for employment.
If you need an accommodation during the application process due to a disability, please send an email to: EEO.Compliance@spglobal.com and your request will be forwarded to the appropriate person.
The EEO is the Law Poster http://www.dol.gov/ofccp/regs/compliance/posters/pdf/eeopost.pdf describes discrimination protections under federal law.
20 - Professional (EEO-2 Job Categories-United States of America), ANLYTC202.2 - Middle Professional Tier II (EEO Job Group), SWP Priority - Ratings - (Strategic Workforce Planning)
Job ID: 257896 Posted On: 2020-12-15 Location: Denver, Colorado, United States