MODEL RISK MGMT MANAGER

Salary depends on experience
Posted on 06/29/18
8 - 10 years experience
Accounting, Finance & Insurance
Salary depends on experience
Posted on 06/29/18

Description Primary function is tactical development, support and managerial oversight of Model Risk Management at Northwest. As such, is responsible for reviewing, risk rating and validating models used by the company and overseeing validation activities performed by both internal parties and external consultants. Develops enterprise-wide framework to manage model risk throughout the model lifecycle across all business units in accordance with regulatory guidelines (FED SR11-07 and FDIC FIL-22-2017).

RESPONSIBILITIES:
Reporting to the Chief Risk Officer, the Manager of Model Risk Management will be responsible for all model validation and model governance for the bank. Specific responsibilities include:
• Establish and maintain the Model Risk Management Policies and Procedures.
• Develops and maintains model inventory of all models utilized by company across multiple lines of business including credit, interest rate, risk ratings, economic capital, capital market valuation, credit risk parameters, pricing & profitability, loan loss reserves, and measurement of other risk types including operational and market risk.
• Communicates changes in model inventory and model risk profiles to Executive Management and the Board Risk Committee.
• Develop model validation policies, procedures, and documentation standards for the bank.
• Ensure that all model validation documents are up-to-date and meet all necessary requirements.
• Ensure that validation on all models within the bank occur according to Policy, including but not limited to credit risk models, market risk models, operational risk models, loss forecasting models, and financial models.
• Collaborates and interacts with management, model owners/users throughout the company and with third-party model validation providers.
• Understands how models are used in the business decision making process and material impacts to financial statements and risk measurement.
• Understands model development and validation methodologies, policies, procedures & processes.
• Develops dashboard reports, key metrics, analysis, and summary reports of models and model validation activities.
• Monitor the performance of all models, and work closely with the model owners when changes in performance occurs.
• Prepare reports on model performance and validation status for executive management and regulatory agencies.
• Work closely with regulatory agencies, internal audit teams, model owners, and executive management.
• Stay up-to-date on industry regulations, regulatory exam requirements to ensure that the bank is meeting all necessary guidance.
• Recruit, train, and develop risk analysts when and as needed.
• Negotiates contracts related to engagement of model validation vendors for professional services
• Conducts periodic model risk assessments and takes appropriate action(s) as required.
• Acts as a consultant to model owners on matters pertaining to model risk management

Requirements • Advanced degree in Statistics, Mathematics, Economics, Engineering, other quantitative discipline, or MBA
• 7+ years experience in financial services risk management; experience working in model validations preferred
• Knowledge of regulatory requirements such as SR 11-7
• 3+ years of management experience preferred – recruiting / training / development
• Deep expertise in the area of risk management; consumer credit risk, commercial credit risk, operational risk, market risk, and asset liability management
• Must have a strong background in statistical modeling, including knowledge of techniques such as linear regressions, logistic regressions, VaR, Markov chain models, and monte carlo simulation.
• Must have extensive experience working with at least one of the following statistical programs; SAS, R, or Matlab. Experience with VBA is also a plus.
• Project management skills;
• Able to work well under pressure and in a fast-paced environment.


• Strong verbal and written communication skills

18-0363

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