VP Enterprise Model Risk Management

Overview

Work Arrangement: 

***This is a fully remote position and can be located anywhere in the U.S.A.***

 

Co-Leads the enterprise-wide Model Risk Management (MRM) Program in alignment with regulatory expectations and firm strategic objectives. Role is responsible for the ongoing enhancement and implementation of a best-in-class program including inventory management, model documentation, validation, and performance monitoring. Given the Banking as a Service (BaaS) business model, this role will be required to liaise with Bank partners and other third parties who are primarily responsible for model development to ensure all aspects of model management meet Bancorp requirements. As such, the ability to communicate ‘must-dos’ from recommendations and define clear expectations is critical to role success. The VP Enterprise Model Risk Management will directly communicate with regulators and senior leadership to review and resolve model risk exposures. The MRM Program is part of the second line of defense within the broader Chief Risk Office (CRO). In addition to overall MRM governance & oversight, the role will be required to conduct certain model validations and analyze the technical capability of credit, financial, and/or operational models. Program coverage and guidance should extend beyond models to also consider other critical use tools, robotics, machine learning, or AI techniques.

Responsibilities

Essential Functions

Co-Leads the Model Risk Management program to identify and categorize models and other critical use tools used to make decisions or support business processes.

Strong ability to explain complex topics in layman’s terms and translate technical jargon to business terminology.

Provides verbal and written commentary directly to regulators as required for examinations or other periodic reviews.

Interacts with Model owners, Bank partners, and other stakeholders during all model lifecycle stages to ensure the effective governance of model development/use/evaluation processes.

Performs independent challenges of Bank models and identifies model weaknesses and opportunities for improvement.

Ensures that model monitoring is performed on a periodic basis and evaluates whether validations and other reviews performed by the business and/or third parties follow the requirements set forth in the MRM Policy.

Develops detailed MRM Standards, procedures, and job aids to drive consistent application of the program across the enterprise.

Uses analytics, business rules, and/or other risk tools and techniques to detect model behaviors and risk factors that may indicate activity that warrants further investigation or action.

Prepares and distributes regular MIS reporting concerning risk monitoring activities under program ownership.

Evaluates program for effectiveness and consistency with regulatory expectations and industry leading practices.

Maintains strong relationships with senior leaders, including executive management, and related control groups.

Drives a culture of safety and soundness across The Bancorp.

Performs other duties as assigned.

Qualifications

Education/Experience Requirements

• Undergraduate degree in a related field or an equivalent combination of training and experience.
• 9 years of progressive experience in Model Risk Management, within the Banking or Financial Services Industry (including interpretation and implementation in alignment with OCC Bulletin 2011-12 and the associated Comptroller’s Handbook).
• Expert knowledge of key econometric and statistical techniques (i.e., predictive modeling, logistic regression, survival analysis, design of experiments, decision trees, data mining methods, and other advanced statistical and econometric techniques).

Preferred Requirements

• A Post Graduate Degree or Industry Qualification preferred.
• Extensive working knowledge of the financial services industry, products, and services including credit risk models and/or Fintech companies.
• Expert knowledge and understanding of risk management concepts and principles including Enterprise Risk Management and Third-Party Risk.
• Strong analytical, data, problem-solving and decision-making skills with high attention to detail and accuracy.
• Excellent verbal, written, and interpersonal communication skills.
• Excellent organizational skills with the ability to prioritize and organize work to meet deadlines.
• Proficient in Microsoft Office suite, e.g., Excel, PowerPoint, Word, Outlook, and other programming skills.
• Position will require occasional travel.

Background & EEO Statement

Salary Range:  $103,003 - $180,403 Annually 

 

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