Model Attestation and Identification Lead

Model Attestation and Identification Lead

The Model Attestation and Identification Lead is a strategic professional who stays abreast of developments within own field and contributes to directional strategy by considering their application in own job and the business. Developed communication and diplomacy skills are required to guide, influence, and convince others, in particular colleagues in other areas and occasional external customers. Significant impact on the area through complex deliverables. Provides advice and counsel related to the technology or operations of the business. Work impacts an entire area, which eventually affects the overall performance and effectiveness of the sub-function/job family.

Job purpose and background:

The Model Risk Management (MRM) organization provides oversight for the Model Risk Management Framework, which consists of the policy, processes, and procedures through which the firm identifies, measures, manages, monitors, reports, and controls model risk across the firm. This position is part of MRM under a Senior Inventory Attestation & Model Identification Lead within Independent Risk. Specifically, this team coordinates and oversees:

• A firm-wide effort to execute the Model Inventory Attestation, which is a process where each executive one-level down from the firm CEO attest to the completeness and accuracy of Citi’s model and Artificial Intelligence (AI) non-model object inventory. This process involves liaising with senior management across the firm’s organizations, including executives two-levels down from the CEO.
• Model identification process by which a potential model, including AI object, is identified and submitted to MRM by the firm’s businesses and functions, and if determined to be a model by MRM, is recorded in the model inventory.
• Unvalidated models to make sure models are in compliance with MRM Policy, so MRM continues to operate within Risk Appetite.
• Policy breach root cause analysis which requires coordination with Seniors across all firm’s businesses and functions to obtain policy breaches remediation plans as well as preventive actions.
• Model retirement analysis focused on trends and drivers of this such as replacements and divestitures as well as controls to ensure compliance with MRM Policy.  
• Contribute to strategic, cross-functional initiatives within the model risk organization.

Key Responsibilities:

• Liaise with firm-wide businesses and functions stakeholders to guide them through the Model Attestation to ensure it is completed on time and per MRM Policy and procedures requirements.
• Monitor and track model identification process from end-to-end perspective as follows:
  • Submission: Working as a trusted partner with submitters across firm
  • Guidance: Provide support to MRM Validators to obtain all necessary information, so they can complete the model/not a model determination.
  • Analysis: Track end-to-end model identification process including submission status, aging, and model/not a model determinations’ consistency. In addition, assemble meeting materials to be presented to MRM Senior Management
• Coordinate with stakeholders within MRM to address inquiries accordingly. Monitoring unvalidated models including obtaining action plans from model sponsors to submit model documentation for validation and policy breach remediation plans. In addition, assemble meeting materials to be presented to MRM Senior Management.
• Propose and coordinate enhancements to streamline existing processes.
• Appropriately assess risk when business decisions are made, demonstrating consideration for the firm's reputation and safeguarding Citigroup, its clients, and assets, by driving compliance with applicable laws, rules, and regulations, adhering to Policy, applying sound ethical judgment regarding personal behavior, conduct and business practices, and escalating, managing, and reporting control issues with transparency.

Qualifications:

• 10 years of experience.
• Understand model risk throughout the model lifecycle. Proficient in MS Office Suite including strong analytical skills and working knowledge of Excel/pivot tables and PowerPoint to build presentations and to effectively communicate information to a wide audience.
• Strong attention to details. Critical thinking focused on end-to-end processes and controls. Demonstrate effective project management, organizational skills, and ability to handle/prioritize multiple projects at one time.
• Effective influencing and relationship management skills across different seniority levels.
• Preferred Prior Experience: Risk Management, Project Management, Process Execution, Governance, Controls.

Education:

• Bachelor’s/University degree or equivalent experience, potentially Masters degree