Full-Time VP, Model Risk Manager (Req#2284)
Job Description
The Model Risk Manager is responsible for helping ensure compliance with the Bank’s Model Risk Management policies and procedures as well as all required regulatory requirements to help mitigate and monitor risk associated with the use of models at the Bank. This includes model risk management program development, independent model validations and other enterprise risk analysis.
- Manage the design and execution of the Model Risk Management Program. This includes responsibility for establishing and enforcing the Model Risk Management program’s policy and procedures, identifying and initiating improvements in processes and controls, and determining staffing and validation resource allocation.
- Organize, oversee, and/or perform validations on various types of models used by the Bank. This includes but not limited to: reviewing model documentation, performing stress testing and sensitivity analysis, reviewing data inputs and outputs, determining reasonableness of assumptions and impact of model limitations, performing model performance assessment and evaluating suitability of the models.
- Manage external model validation process through organization of vendor selection and coordination between the vendor and model owner.
- Oversee model inventory within Archer and management of model risk scoring, model assessments, model change management and model validation findings/remediations.
- Engage with internal and external stakeholders to facilitate discussion, drive agreement on model development approach, and communicate quantitative methods and results to various stakeholders, including senior management and regulators, through participation in the Model Risk Management Committee.
- Guide model owners through the model validation process, including assisting in confirming model versus tools and informing model owners of governance and validation efforts required.
- Stay current on industry developments related to Model Risk Management.
Education and Experience
- Bachelor’s degree in Finance, Economics, Mathematics, Statistics, Quantitative Analysis, or another technical discipline. Advanced degree preferred.
- 5-15 years of related experience at a Financial Institution or Consulting Firm in the areas of model governance, model validation, or model development.
- Managerial experience
Skills/Knowledge
- Proficient in Microsoft Office
- Proficient in SQL or related database tools
- Proficient in statistical analysis and use of statistical modeling software (SAS, R, Matlab)
- Self-motivated and the ability to work and learn independently
- Strong organizational skills
- Detail orientated
- Excellent oral and written communication skills
- Ability to communicate complex topics to nontechnical employees
About Us
Committed. Inclusive. Courageous. Eastern Bank has built a legacy of investing in the communities we serve and helping our customers, communities and employees thrive and grow. We pride ourselves in having knowledgeable and experienced professionals that can provide the expertise, personal attention and service our customers deserve.
As an inclusive company, we work to ensure that our valued employees are treated fairly, recognized for their individuality, and encouraged to reach their fullest potential. These values have earned us a reputation as a great place to work and provide a strong reason why you should consider a career with us
How to Apply
If you will like to learn more and apply, use the link below: https://gka.fa.us1.oraclecloud.com/hcmUI/CandidateExperience/en/sites/CX/job/2284/?utm_medium=jobshare35 total views, 0 today