Director - Risk Modeling - Financial Services

Our Client is the captive of Fortune 500 company and a consistent top 25 Employer

This is a 2000 people unit which is rapidly expanding

Job Summary :

This position will assist the Model Risk Governance team in executing against the framework for model risk reporting. Key responsibilities include executing against the overall model risk governance framework and assisting in the implementation of the framework through a formal model risk program within the lines of business and enterprise.

Essential Job Functions :

- Maintain a basic functional knowledge of model risk concepts and work with the business units to communicate key guiding principles.

- Participate with team members to execute against the framework for the model risk rating and reporting

- Collaborate with the model developers and business units to execute the governance framework, policies and procedures.

- Gather information for the initial requests for the introduction of models/tools to be used throughout the firm or offered to clients for their use.

- Interact with the developers and business unit owners and gather model development documentation.

Statement of purpose :

- Documentation of design, theory and logic (including the mathematical specifications, numerical techniques, limitations, etc.)

- Draft initial review of documentation and proposed risk rating and report and work with manager to evaluate formal results of analysis performed.

- Research models/tools and any problems and provide suggestions to management for feedback and input.

- Perform end-to-end validations/testing of basic or less complex models/tools internal and client facing with oversight, guidance and review from management.

- Leading a team and holds prior strong experience on managing team activities and performances.

- Validation/testing involve identifying the key risks associated with a model, planning a risk-based validation approach and scope, designing and conducting validation tests, recognizing gaps in model risk management and governance, and drafting a model validation report. Some key requirements for an effective independent model validation are:

- Checking the model's accuracy

- Demonstrating the model is robust and stable

- Assessing potential limitations

- Evaluating the model's behavior over a range of input values

- Assessing the impact of assumptions

- Identifying situations where the model performs poorly or becomes unreliable

Preferred Education/Certifications :

- BTech /BS degree or equivalent practical experience; CAMS certification

Preferred Work Experience :
- 13+ Years of prior work experience in the financial services industry as well as experience in risk management or related fields including public accounting, internal audit, or compliance is preferred. Preferring coming from a leadership background and managed Risk Module operations at a larger span.

- Knowledge of quantitative model risk validation preferred.

- Foundational experience in performing mathematical validation of, including client facing tools (e.g. capital allocation model, credit risk models, marketing models, etc.)

Knowledge, Skills and Abilities :

- Foundational experience in credit risk, market risk, derivatives pricing, market risk is a plus.

- Strong understanding of reading and interpreting coding languages (e.g. Python, Java Script, etc.)

- Understanding of OCC 2011-12 and SR 11-7 guidance on model risk management

- Foundational knowledge of internal control and risk management concepts, financial services industry practices and regulatory requirements.

- Must be able to communicate effectively (orally and written) with professionalism and possess solid presentation skills

- Strong work ethic, initiative, teamwork and flexibility to assist department in meeting organizational goals.

- Works independently under direct supervision with latitude for initiative and some independent judgment.

- Anticipate work, plan, organize, and carry out responsibilities with professionalism and confidentiality.