Model Risk Management Lead

Role Overview

• Provide oversight of the execution of the Bank’s Model Risk Management Program to align with the Bank’s risk appetite and align with supervisory guidance SR 26-2
• Oversee the independent validation of all models, ensuring that they are conceptually sound, statistically robust, fit for their intended purpose, and all validation activities and conclusions are adequately documented consistent with Bank policies and procedures, which also includes oversight of non-models and end user computing (EUC)
• Maintain a robust model inventory, ensuring accurate and complete development and validation documentation of all models used within the Bank
• Review result of ongoing model performance monitoring and escalate deteriorating model performance
• Monitor and ensure that models are used in line with the approved use and use plan
• Track and report on model issues and review completed issue remediation
• Assist in reporting of consolidated view of model risk across the Bank, including significant individual model risk and model risk in the aggregate, the state of compliance with and recent and outstanding exceptions
• Collaborate effectively with model owners, developers, business stakeholders, and other department heads to deliver on specific objectives and initiatives
• Communicate model risk management policies, procedures, and expectations to stakeholders across the organization
• Stay abreast of industry trends, regulatory changes, and emerging risks related to model risk management
• Assist in regulatory examinations, internal audits, and external audits of the model risk management program. Respond to exams and audit concerns and corrective action of all related findings

Requirements

• Master’s degree in a highly quantitative discipline (e.g. Statistics, Mathematics, Engineering, or Data Science)
• Minimum 5 years of experience in Model Development or Model Validation
• Proficiency in statistical programming languages (e.g., SAS, Python, R, or SQL)
• Extensive knowledge of various regression techniques, machine learning, times series techniques, and other statistical models
• Exceptional ability to explain complex mathematical concepts to non-technical stakeholders and senior management
• Demonstrated ability to work autonomously as a self-starter with strong ownership mindset
• Excellent organizational skills and the ability to work well under pressure both independently and collaboratively within a team environment.

Tech Stack

• Python
• SQL

Benefits

• Immediate medical, dental, vision and prescription drug coverage
• Flexible family care days, paid parental leave, new parent ramp-up programs, subsidized back-up child care and more
• Family building benefits including adoption and surrogacy expense reimbursement, fertility treatments, and more
• Vehicle discount program for employees and family members and management leases
• Tuition assistance
• Established and active employee resource groups
• Paid time off for individual and team community service
• A generous schedule of paid holidays, including the week between Christmas and New Year’s Day
• Paid time off and the option to purchase additional vacation time.