Risk Model Validation Manager/VP Phoenix

Risk Model Validation Lead/Manager
VP Level
Phoenix AZ
Salary to $175K Depending on Experience
Bonus Opportunity Annually
Relocation Assistance Available

Send resume/questions to mary@analyticsearches.com.
 

With more the $20 billion is assets, our client is one of the country’s top performing banks.  It is the go to bank for business. 

The Risk Model Validation Manager will lead the bank’s Model Risk Management validation process and will be responsible for managing and mitigating potential adverse impacts arising from the use of mathematical, statistical or financial models.  The bank utilizes quantitative models and tools to support business processes and ensure informed decision making in areas such as financial planning and forecasting, loan loss reserve modeling, interest rate risk management, investments, capital planning and stress testing.

The Manager will be responsible for independently conducting quantitative analytics for modeling projects.  This role will perform model validation on internal in-house models as well as engage and support third party model validations.  A qualified candidate will possess excellent quantitative and analytical skills with a broad knowledge of financial commercial banking products.

The Manager will aid in the development and implementation of model risk management practices on the bank’s culture and stakeholder expectations of Risk Management.  This individual will oversee performance of this compliance and risk management function by creating model development standards and procedures, standards for model validations and administering compliance with the bank’s Model Risk Management policy and procedures including working with the bank’s governance committees for validation oversight and model risk.

A qualified candidate will have excellent verbal and written communication skills and be a strong influence working at all staff levels within the bank.  You must have a strong understanding of the quantitative modeling process.  This role requires the ability to multi-task keeping projects on track simultaneously, facilitate consensus among multiple teams and stakeholders to ensure work can progress in a timely manner delivering projected business results.

Responsibilities:

  • Responsible for independent model validation and performance monitoring such as assessing the conceptual soundness, evaluating model assumptions and data integrity/quality, testing model numerical and/or computational accuracy, performing outcomes analysis and reviewing model governance and control process.
  • Develop sound practices for model validation and documentation including model assumptions, data integrity, model limitations, model testing, soundness and performance monitoring.
  • Implement model risk policies and procedures across all stakeholders.
  • Oversee model remediation activities.
  • Support relationships with regulators and internal audit.
  • Participate in development of relevant policies and procedures.

Qualifications:

  • Advanced degree in Statistics, Economics, Finance ore related quantitative field.  PhD preferred.
  • Industry certifications are a plus – CFA, FRM.
  • Minimum of five years of practical experience in the Financial Services industry in the US.
  • A proven track record of strong technical, model development, validation and model oversight.
  • Proficient in model risk management and associated regulatory requirements such as OCC 2011-12, SR 11-07 and Basel.
  • Hands on experience in statistical packages such as SAS, R, Matlab, Stata.
  • Proficiency using Excel,, Word and PowerPoint.
  • Working knowledge of accounting rules related to charge-offs, recoveries and non-accrual accounting, allowance for credit loss accounting rules and regulations, statistical model development methodologies and statistical model implementation.
  • Working knowledge of stress testing concepts and related regulatory guidance such as Fed Letter SR11-7.
  • Experienced in project management.
  • Excellent verbal and written communication skills.

Send resume/questions to mary@analyticsearches.com.