This position is responsible for developing and managing the Financial Risk and Model Risk Management Program within the Enterprise Risk Management Division and reports to the SVP Operational Risk and Model Risk Director. The Financial and Model Risk Manager is responsible for helping ensure compliance with the Bank’s Financial Risk and Model Risk Management policies and procedures as well as all required regulatory requirements to help mitigate and monitor risk at the Bank.  This includes risk management program development, independent model validations and financial risk analysis and testing.

Manage the design and execution of the Model Risk Management Program. This includes responsibility for establishing and enforcing the Model Risk Management program’s policy and procedures, identifying and initiating improvements in processes and controls, and determining staffing and validation resource allocation. Manage the design and execution of the Financial Risk Management program by identifying and initiating improvements in processes and controls. Oversee and perform risk reviews and second line testing on financial areas including Capital, Liquidity, and Market Risk. Organize, oversee, and/or perform validations on various types of models used by the Bank.      This includes but not limited to:      reviewing model documentation, performing stress testing and sensitivity analysis, reviewing data inputs and outputs, determining reasonableness of assumptions and impact of model limitations, performing model performance assessment and evaluating suitability of the models. Oversee model inventory within Archer and management of model risk scoring, model assessments, model change management and model validation findings/remediations. Engage with internal and external stakeholders to facilitate discussion, drive agreement on model development approach, and communicate quantitative methods and results to various stakeholders, including senior management and regulators, through participation in the Model Risk Management Committee. Guide model owners through the model validation process, including assisting in confirming model versus tools and informing model owners of governance and validation efforts required. Stay current on industry developments related to Financial and Model Risk Management.

PROBLEM SOLVING & DECISION MAKING:  This position requires the ability to work independently as well as in a team environment. It requires the capability to provide strong leadership along with sound discretion and judgement. There will be a significant amount of collaboration with other areas which will require strong organizational skills.  Also, a high level of accuracy and detail is needed as the major responsibilities are visible to senior management, the board of directors, and regulators.

 Because Financial Risk and Model Risk Management are developing functions at the bank, problems will arise that require the ability to quickly solve or adapt the processes to an ever-changing structure. Problems could come from internal sources, external changes in regulation, and regulator comments. Problems will be solved in both an independent and group atmosphere.  Solutions will be discussed, and recommendations are expected to be presented.

Education and Experience 

Bachelor’s degree in Finance, Economics, Mathematics, Statistics, Quantitative Analysis, or another technical discipline.  Advanced degree preferred. 5-15 years of related experience at a Financial Institution or Consulting Firm in the areas of risk analysis, financial analysis, model validation, or model development. Managerial experience

Skills/Knowledge 

Proficient in Microsoft Office Proficient in SQL or related database tools Proficient in statistical analysis and use of statistical modeling software (SAS, R, Matlab) Self-motivated and the ability to work and learn independently Strong organizational skills Detail orientated Excellent oral and written communication skills Ability to communicate complex topics to nontechnical employees