Head of Model Governance

  • Negotiable
  • Manhattan, NY, USA Manhattan NY US
  • Permanent, Full time
  • Michael Page International - US
  • 18 Jul 18 2018-07-18

Work with a leading Financial Institution where the candidate will lead the process in keeping the governance and controls within the Model Risk Management Team.

My Client is a leading Financial Institution with a history of excellence within all Domestic and International Markets.

Description

RISK Independent Review and Control is responsible for the Model Risk Management framework. Within Risk there is a Model Governance team and several Model Validation groups. The Model Validation groups are responsible for performing an independent effective challenge of all modelling choices in accordance to internal policies, procedures and standards following Federal Reserve Board letter SR11-7.

Responsibilities:

  • Maintain and develop the infrastructure necessary to manage the Bank's model inventory, model documentation and validation reports, validation findings, change control, performance monitoring, risk assessment, and model risk reporting.
  • Ensure coordination and consistency in the Model Risk framework across all risk entities and models on policies, execution and reporting. This includes working with stakeholders to ensure coordination and compliance
  • Lead the development and enhancement of policies and standards consistent with regulatory guidance and industry best practices. Promote policy awareness, implementation and compliance by engaging key model risk stakeholders including model users, developers, validators, audit and senior management.
  • Assist with the preparation of presentations and periodic model risk reports for senior management, the Model Risk Management committee and the Board of Directors.
  • Assist the Bank's senior management team on model governance related regulatory issues.
  • Oversee the performance of appropriate quality assurance and control measures on model information contained in the official model and recommendation inventories.
  • Work with Validation Managers and other stakeholders to develop and improve our operating model across 1st and 2nd lines of defense related to model risk management to ensure optimal execution.
  • Ensure appropriate allocation of Model Governance resources as well as staff retention, hiring and development.

Profile

The ideal candidate will have these qualifications:

    • 10 or more years in Audit or Risk Management (experience using, developing or validating models desirable)
    • 3 plus years of supervisory or managerial experience:
    • Bachelor's Degree in a subject with quantitative elements
    • 5 plus years working knowledge of bank products and business processes, particularly how models support or impact these processes
    • Years of supervisory or managerial experience: 5 or more
    • Experience in either model governance or model validation roles
    • Familiar with leading model risk management practices and regulatory guidance
    • Strong written and verbal communication skills, including effective presentation skills to multiple levels of management and associates
    • Adept at working in a multifaceted organization
    • Effective working both independently and as a team leader and providing leadership and collaborating with a wide variety of teams
    • Experience in dealing with regulators and a changing regulatory landscape



Job Offer

Competitive pay and competitive benefits plus bonus.