About the team + role
As a Model Risk Manager, you will champion the importance and value of sound model risk management practices, will drive independent model validation and identification of model risks, and will support ongoing model risk mitigation and reporting. You will work closely with a diverse group of professionals across the enterprise, including quantitative analysts, data scientists, risk managers, and model owners to ensure the accuracy and reliability of our models. This is an individual contributor role.
It is preferred that this role is located in one of the office locations listed on this job description which will align with our in-office working environment. This position is only eligible for remote work in limited geographies within the US where we do not have physical office locations. Please connect with your recruiter for more information regarding our in-office philosophy and expectations.
What you’ll do
- Promote, apply and help evolve and optimize the enterprise-wide Model Risk Management framework and processes
- Develop and implement model validation plans to review and assess the soundness and performance of various models
- Work closely with model owners and model developers to identify and manage risks introduced by the use of models
- Prepare model validation reports detailing findings, recommendations, and conclusions for senior management, regulatory bodies, and auditors
- Assist with regular model risk tracking and reporting, including the remediation and closure of identified issues
- Stay up-to-date with the latest developments in model risk management approaches, industry standards, and regulatory guidelines
What you bring
- A minimum of Bachelor’s degree in a quantitative discipline, such as Economics, Math, Computer Science, Data Science, etc.
- A minimum of 7 years of experience working in quantitative analytics, model development, model validation or model risk management,
- Familiarity with models in financial markets, e.g. models used for credit risk, fraud, market risk, and liquidity risk, including AI/ML models, as well as Python or R,
- Ability to build strong relationships and influence stakeholders in both technical and non-technical space,
- Ability to explain complex concepts for various audiences, and have superior written and oral communication skills,
- Familiarity with industry regulations and regulatory frameworks related to model risk management, such as SR 11-7,
- Ability to work and thrive in a fast-paced environment, with strong project management and delivery track record.
We use Covey as part of our hiring and / or promotional process for jobs in NYC and certain features may qualify it as an AEDT. As part of the evaluation process we provide Covey with job requirements and candidate submitted applications. We began using Covey Scout for Inbound on September 19, 2024.
Please see the independent bias audit report covering our use of Covey here.
