The Americas Model Risk Management (AMRM) is responsible for the management of enterprise-wide model risks associated with the Bank's development, deployment, and maintenance of quantitative models.
Perform independent validations of various models in the enterprise-wide inventory.
Manage the resolution of findings with model owners and users, recommend management action plans, and track remediation progress.
Validation scope includes assessment of model conceptual soundness, evaluation of data and assumptions, testing model computational accuracy, and performing outcomes analysis (such as back-testing and benchmarking).
Monitor model performance reports on an on-going basis to ensure models remain valid.
Consult with model users on the design of effective model operational controls.
Typically requires an advanced technical degree in finance, financial engineering, economics, mathematics, statistics, engineering, or related fields (PhD preferred). Industry certifications a plus (e.g., CFA, FRM).
Five or more years of experience within the financial services industry.
Proven track record of strong technical model development, model management, and/or model oversight in one or more of the following areas: retail credit risk management, operational risk, consumer lending, and Current Economic Credit Loss (CECL).
Knowledgeable about model risk management and associated regulatory requirements such as FRB’s SR 11-7/OCC’s 2011-12.
Strong project management capabilities.
Excellent verbal and written communication skills.