Model Risk - Director level
We are partnering with a leading financial institution to hire a senior professional who will lead the Model Risk Management function for an OTC derivatives business. This role involves building a robust governance framework, managing model validation processes, and ensuring full compliance with regulatory standards and global best practices.
Key Responsibilities
- Establish Governance Framework: Build and maintain a robust model risk governance structure, ensuring clear policies and proper segregation between development and validation teams.
- Lead Model Validation: Perform independent reviews of critical risk models (e.g., VaR, ES, SIMM), applying rigorous testing, benchmarking, and performance analysis.
- Ensure Regulatory Alignment: Act as the primary liaison for regulatory matters, guaranteeing compliance with local and international standards while monitoring emerging requirements.
- Monitor & Report Risks: Develop tools to track model performance, maintain a centralized inventory, and deliver comprehensive risk reports to senior leadership.
- Support New Initiatives: Validate pricing and risk models for new products and assess model risk implications for system upgrades or infrastructure changes.
- Drive Continuous Improvement: Identify weaknesses in models and processes, recommend enhancements, and implement best practices across the model lifecycle.
Qualifications
- Advanced degree (Master's or Ph.D.) in Quantitative Finance, Mathematics, Physics, or related fields.
- Strong knowledge of OTC derivatives, risk modeling, and regulatory frameworks.
- Proven experience in model validation, governance, and risk management.
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