Overview
Responsible for the validation of models and periodic monitoring to ensure models remain suitable for Bank's use.
What you will do:
- Conduct independent model validation and provide a comprehensive effective challenge of models by partnering with model owners and developers, following Bank policies, regulatory requirements, and industry best practices
- Write validation reports documenting the independent validation process including important observations, recommendations, and associated remedial actions
- Maintenance of model inventory and other model risk management tools
- Create and update frameworks, policies, and procedures documents related to Model Risk Management.
- Assist the Model Risk Manager for any risk-related or project-related activities
- Develop and maintain effective working relationships with key stakeholders, ensuring effective communication and understanding of model validation findings
- Review and oversight on model performance monitoring reports to ensure satisfactory performance and corrective actions where required as necessary
- Monitor the remedial actions taken by model owners and developers to ensure model validation findings are addressed in a timely manner
- Assist with regulatory exams and internal audits to address and prevent recurrence of identified gaps and deficiencies
- Work with model owners to ensure model documentation and testing meets the latest governance standards and is suitable for independent validation purposes
What we are looking for:
- Strong analytical, quantitative, and organizational skills.
- Proficiency in programming languages like R and Python, with experience in model validation or risk management.
- Background in banking or financial services and expertise in financial products.
- Deep knowledge of modeling techniques.
- Ability to manage multiple workstreams effectively and deliver risk governance, including implementing risk controls and governance frameworks.
- Practical experience in running management or executive-level committees and broader risk governance processes.
- Strong stakeholder management, verbal and written communication skills, especially in dealing with senior management.
- Advanced analytical abilities with attention to detail and an interest in problem-solving.
- Experience in reporting, with the capability to develop reports, presentations, and perform ad-hoc analyses for senior management and the board.
