Eleimon Gonis
Head of Independent Model Validation @Virgin Money
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WORK HISTORY
Head of Independent Model Validation @Virgin Money
Bristol, GB
A Material Risk Taker (MRT), part of the Risk Leadership Team (RLT) and the bank’s wider Extended Leadership Team (ELT), I’m leading the Independent Model Validation team entrusted with the independent review of models and Deterministic Quantitative Methods (DQMs) to ensure fitness for purpose. Main areas of focus of validations encompass credit decisioning, Retail Secured and Unsecured, Business (Large Corporates, Mid-Market, SMEs) A-IRB, F-IRB, IFRS 9, Stress Testing, climate stress testing, pricing, fraud, AI/ML (incl. Gen AI) and operational risk models* I’m also leading the Model Risk Assurance team responsible for assessing the design and operational effectiveness of controls across model lifecycle through thematic reviews, ongoing assurance of controls and model risks and providing the 2LoD opinion on the Control Effectiveness Statement (CES)* I am the owner of the bank\'s overarching validation framework and co-author / reviewer of model validation standards for key model types (such as IRB, IFRS 9, stress testing, non-financial, AI/ML models), Post-Model Adjustments (PMAs) and DQMs
EDUCATION
University of the West of England
PhD
Queen Margaret University
MSc
University of Essex
Akin to PG Diploma
University of Piraeus
Bachelor of Science (BSc) with Honours
ABOUT ELEIMON GONIS
I am an experienced senior model / credit risk professional with demonstrable value-adding track record in:* academia, researching and teaching financial risk management (focus on credit) and empirical corporate finance,* the public sector, regulating financial institutions\' capital models in the UK at the PRA,* consultancy, supporting banks with their credit risk modelling and Model Risk Management (MRM) challenges, and * the private sector, leading in the past Nationwide Building Society\'s and currently Virgin Money’s independent technical validations of capital, stress testing, climate risk, valuation in resolution, financial crime models as well as AI / ML in addition to modelling methodologies across the institutions.
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