Role Overview
This director-level role involves supporting and enhancing the governance and control of model risk across the bank. The Model Risk Officer validates credit risk models, ensures compliance with model risk policy, and provides challenge and oversight to the model development process. The role also involves managing a team of model validators and collaborating with stakeholders across the bank.
Key Responsibilities
- Maintain and control a bank-wide model inventory and associated risk assessments
- Support delivery of bank-wide policy and mandatory procedures for model risk governance
- Conduct pre-implementation model validations and periodic independent reviews of credit risk models
- Track and proactively escalate model-related issues to ensure compliance with the operational risk framework
- Design and implement bank-wide model risk appetite approved by executives and cascaded to business lines, functions, and legal entities
- Enhance and maintain model validation standards and develop automated model validation tools
- Support all areas in maintaining appropriate governance and minimum standards for model risk
- Work across asset classes to manage and remediate internal and external audit issues related to model risk
- Manage and coach a team of model validators
Required Skills and Experience
- Significant experience in model validation or model development of risk models
- Strong understanding of model-related regulatory requirements in the financial industry
- Project management experience with the ability to set clear direction, track objectives, and deliver outcomes
- Excellent problem-solving and analytical skills
- Strong communication and stakeholder management skills, including influencing senior management
- Financial acumen to understand model risk indicators across assets, business lines, platforms, regions, markets, and regulations
- Expert knowledge of policy management and control processes across multiple lines of business
- Experience preparing high-quality documentation for regulators and auditors
