One of the industry-leading American Investment Banks in the New York area is looking for a talented VP-level candidate to join their Model Risk Management group and be responsible for the independent oversight of Model Governance. This will be a management position with two direct reports to start out, and will roll up to the Head of the Model Governance team.
The hire will be responsible for all model risk management activities, including the maintenance and updating of the model risk management frameworks, challenging the 1st line of defense on model reviews, performing ad hoc work on enhancing existing controls and processes, writing all firmwide model risk policies, interacting with the infrastructure team and Front Office, and applying model risk governance knowledge in a practical setting.
The firm is ideally looking for candidates with at least 5+ years of financial services industry experience, preferably with strong knowledge of model risk governance concepts and the ability to apply them. Additionally, understanding the basis of modeling and coding will be required due to the constant interaction with the modeling teams. Prior regulatory experience is a plus, as well as excellent communication skills.
- Working with senior stakeholders on model risk governance policies and frameworks
- Updating and enhancing upon the model risk governance frameworks where needed
- Writing firmwide model risk policies and assisting with procedures
- Managing and training a team of direct reports
- 5+ years of experience in model risk governance
- Basic understanding of model risk, modeling, and coding
- The ability to interact with senior stakeholders and independently drive initiatives
- Prior SR 11-7 experience
- Excellent communication skills