Model Governance Manager

5 - 7 years experience  •  Financial Services

Salary depends on experience
Posted on 10/08/17
Portland, OR
5 - 7 years experience
Financial Services
Salary depends on experience
Posted on 10/08/17

Job Description:

The Model Governance Manager is a key participant in the implementation of bank-wide model risk governance operating under the direction of the Model Risk Manager. Responsibilities include the direct management and supervision of the Model Governance Risk Analyst team as well as the proper implementation of controls and performance monitoring initiatives for models and End User Applications across the Bank.

ESSENTIAL DUTIES AND RESPONSIBILITIES

• Responsible for overseeing and directing Model Governance Implementation projects to ensure that policies and procedures utilized by the Model Risk Management team meet internal and regulatory standards for “effective challenge.”
• Implement standardized model-related Governance Risk Control processes. May include processes for model identification, model documentation, validation documentation, risk rating, change-control, ongoing performance monitoring, remediation tracking, and model maintenance and retirement.
• Interact with external regulators and internal auditors to demonstrate the operational soundness and effectiveness of the model validation process.
• Perform review / quality control of internal and consultant-produced model documentation, model validation reports, annual model reviews, and ongoing monitoring.
• Track the status of outstanding issues and facilitate resolution or escalation as needed.
• Administer Model Risk Management educational and training initiatives for business units, model developers, and Executive Sponsors. Maintain related resource
documents.
• Partner with business units in defining model performance thresholds, reporting
schedules, and process controls.
• Identify common factors behind model underperformance such as shared assumptions, approaches, data, or developers.
• Prepare regular and ad-hoc reports on individual and Bank-level model risks for Senior Management, the Model Risk Committee, external regulators and the Board of Directors.
• Provides leadership and guidance to staff, fostering an environment that encourages employee participation, teamwork, and communication.
• Demonstrates compliance with all bank regulations for assigned job function and applies to designated job responsibilities – knowledge may be gained through
coursework and on- the-job training. Keeps up to date on regulation changes.
• Follows all Bank policies and procedures, compliance regulations, and completes all required annual or job-specific training.
• Maintain a working knowledge of Bank's written policies and procedures regarding Bank Secrecy Act, Regulation CC, Regulation E, Bank Security and other regulations as applicable to this job description.
• May be asked to coach, mentor, or train others and teach coursework as subject matter expert.
• Actively learns, demonstrates, and fosters the Umpqua corporate culture in all actions and words.
• Takes personal initiative and is a positive example for others to emulate.
• Embraces our vision to become "The World's Greatest Bank."
• May perform other duties as assigned.

SUPERVISORY RESPONSIBILITIES – Up to 4 Associates

REQUIRED KNOWLEDGE, SKILLS AND ABILITIES

• Master’s Degree in Economics, Mathematics, Statistics, Financial Engineering, Quantitative Finance, or Actuarial Sciences required.
Doctoral Degree in Economics, Mathematics, Statistics, Financial Engineering, Quantitative Finance, or Actuarial Sciences preferred.
• Financial Risk Manager (FRM), Professional Risk Manager (PRMIA), or Chartered Financial Analyst (CFA) certifications preferred.
• 5 - 8 years in banking, financial services, or consulting as a Data Scientist, Statistician, Quantitative Risk Analyst, Model Developer, Model Validator, or similar role.
• At least one year preferred as a Project Lead, Team Lead, or Manager for an Analytics, Model Development or Model Validation team in a financial services organization.
• Knowledge of regulatory requirements related to model risk management (FRB/OCCSR 11- 7), Basel II/III capital requirements, and Dodd- Frank Act Stress Testing (DFAST).
• Advanced understanding of statistical modeling, econometric forecasting, machine learning, data extraction and processing techniques; and demonstrated ability to apply such methods in areas such as Credit Risk (PD/LGD/EAD), Market Risk, Operational Risk, Asset & Liability Management, Stress Testing, or Economic Capital calculation.
• Experience with analytics software (SAS, R, SPSS, Matlab, Excel VBA, SQL), relational databases and/or ‘Big Data’ technologies.
• Demonstrate communication skills, both oral and written, with ability to translate complex statistical or economic theories and analysis into practical implications for business teams and Senior Management.
• Advanced organizational skills, with the ability to manage multiple concurrent projects.
• Ability to manage, coach and mentor junior analysts in developing technical, communication and presentation skills.

PHYSICAL AND ENVIRONMENTAL DEMANDS

The Model Validation Manager will oversee and direct the risk assessment of models through validations and will be responsible for presenting the results and findings to senior management. This role effectively challenges model build methodologies and techniques for the various types of models used throughout the bank. Responsibilities include direct management and supervision of the Model Validation Risk Analyst team. The Manager will ensure that independent validation projects are promptly completed and meet comprehensive regulatory standards across the Bank.

ESSENTIAL DUTIES AND RESPONSIBILITIES

• Responsible for overseeing and directing Model Validation projects across enterprise wide model inventory to ensure that results meet internal and regulatory standards for “effective challenge.”
• Evaluates and develops the model validation framework in relation to corporate objectives and industry leading practices. Provides strategic direction on projects to achieve desired future state.
• Interact with external regulators and internal auditors to demonstrate the operational soundness and effectiveness of the model validation process.
• Perform review / quality control of internal and consultant-produced model documentation, model validation reports, annual model reviews, and ongoing monitoring.
• Provides leadership and guidance to staff, fostering an environment that encourages employee participation, teamwork, and communication.
• Responsible for monitoring model performance both on a statistical and business-process basis. Track statuses of outstanding issues and facilitate resolution or escalation as needed.
• Assist with Model Risk Management educational and training initiatives for business units, model developers, and Executive Sponsors.
• Prepare regular and ad-hoc reports on individual and Bank-level model risks for Senior Management, the Model Risk Committee, external regulators and the Board of Directors.
• Proactively identify emerging model risk issues impacting the Bank and communicate to model developers, senior management and the Model Risk Management Committee.
• Demonstrates compliance with all bank regulations for assigned job function and applies to designated job responsibilities – knowledge may be gained through
coursework and on-the-job training. Keeps up to date on regulation changes.
• Follows all Bank policies and procedures, compliance regulations, and completes all required annual or job-specific training.
• Maintain a working knowledge of Bank's written policies and procedures regarding Bank Secrecy Act, Regulation CC, Regulation E, Bank Security and other regulations as applicable to this job description.
• May be asked to coach, mentor, or train others and teach coursework as subject matter expert.
• Actively learns, demonstrates, and fosters the Umpqua corporate culture in all actions and words.
• Takes personal initiative and is a positive example for others to emulate.
• Embraces our vision to become "The World's Greatest Bank."
• May perform other duties as assigned.

SUPERVISORY RESPONSIBILITIES – Up to 5 Associates R

REQUIRED KNOWLEDGE, SKILLS AND ABILITIES

• Master’s Degree in Economics, Mathematics, Statistics, Financial Engineering, Quantitative Finance, or Actuarial Sciences required.
Doctoral Degree in Economics, Mathematics, Statistics, Financial Engineering, Quantitative Finance, or Actuarial Sciences preferred.
• Financial Risk Manager (FRM), Professional Risk Manager (PRMIA), or Chartered Financial Analyst (CFA) certifications preferred.
• 5- 8 years in banking, financial services, or consulting as a Data Scientist, Statistician, Quantitative Risk Analyst, Model Developer, Model Validator, or similar role.
• At least one year preferred as a Project Lead, Team Lead, or Manager for an Analytics, Model Development or Model Validation team in a financial services organization.
• Knowledge of regulatory requirements related to model risk management (FRB/OCCSR 11- 7), Basel II/III capital requirements, and Dodd- Frank Act Stress Testing (DFAST).
• Advanced understanding of statistical modeling, econometric forecasting, machine learning, data extraction and processing techniques; and demonstrated ability to apply such methods in areas such as Credit Risk (PD/LGD/EAD), Market Risk, Operational Risk, Asset & Liability Management, Stress Testing, or Economic Capital calculation.
• Experience with analytics software (SAS, R, SPSS, Matlab, Excel VBA, SQL), relational databases and/or ‘Big Data’ technologies.
• Demonstrate communication skills, both oral and written, with ability to translate complex statistical or economic theories and analysis into practical implications for business teams and Senior Management.
• Advanced organizational skills, with the ability to manage multiple concurrent projects.
• Ability to manage, coach and mentor junior analysts in developing technical, communication and presentation skills.

PHYSICAL AND ENVIRONMENTAL DEMANDS
• Work involves sitting, occasional walking, and lifting up to 10 pounds.

• Requires close visual acuity.

• Normal office environment.

• Limited travel.

KH24565

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