Head of Model Risk

  • USD220000.00 - USD300000.00 per year
  • Manhattan, NY, USA Manhattan NY US
  • Permanent, Full time
  • Michael Page International - US
  • 21 Jun 18 2018-06-21

The Head of Model Risk is responsible for facilitating the identification, assessment and prioritization of risk in a comprehensive and repeatable manner through a group of structured and consistent processes that are applied across the Bank. As part of the second line of defense, the RM Americas Risk department defines the limits, mandates, guidelines, reporting standards and policies in accordance with laws, regulations, and strategy and risk appetite

The Client is a Leading Financial Institution.


  • Further develop, implement and maintain other Model Risk Policy and model risk standards and procedures of model approval and model change management processes, the model inventory process; support the banks inventory process and manage the annual North American inventory certification process, a process to assign model risk ratings, model risk management process with major US-based entities, including, RNA, RAF, DLL, UAH Wholesale

  • Oversee the independent model validation process of the banks models, including significant model changes, within the scope of the bank's Model Governance Policy, and manage the resolution of findings with model owners and users


The successful candidate must have:

  • Advanced mathematics, probability theory and statistics
  • Financial analysis and valuation
  • Model validation and performance monitoring
  • Consumer and commercial credit risk models and modelling approaches
  • Market risk models and modelling approaches
  • Economic capital models (PD, LGD, and EAD) and modelling approaches
  • Model Risk Management (SR 11-7/OCC 2011-12 and Basel III)

Job Offer

Competitive pay with bonus and competitive benefits.