Model Risk Governance & Review - VP

Are you looking for an exciting opportunity to join a dynamic and growing team in a fast paced and challenging area?

As a statistical and machine learning VP and subject matter expert, you will be member of Model Risk Governance and Review (MRGR)  team working for Consumer and Community (CCB) line of business. The successful candidate will focus on the following responsibilities:

Job Responsibilities

• Engage in comprehensive model validation activities by evaluating the conceptual soundness, reasonableness of assumptions, reliability of inputs, completeness of testing, and correctness of implementation associated with model development and usage. 
• Conduct thorough reviews of 1)  proposed enhancements to existing models 2) scope extension for current models, and provide specific approvals as needed.
• Assess the risks associated with advanced AI/ML models, including Generative AI, and ensure that appropriate model review and governance processes are followed to mitigate potential risks effectively.
• Responsible for managing activities pertaining to the model risk lifecycle, including overseeing the accuracy of the model inventory, review of  ongoing model performance monitoring, performing  annual status assessments, as well as managing model change control.
• Maintain robust model risk controls for CCB models and serve as the primary point of contact. Proactively identify and escalate issues to ensure their resolutions are sound and timely.
• Provide Leadership and mentoring to junior resources and guide them in Model Review and Governance activities.
• Participate and actively contribute to the activities and initiatives of MRGR CCB and MRGR as a whole, fostering a collaborative and innovative environment 
• Keep abreast of the latest developments in consumer banking, including advanced AI/ML modeling techniques, products, markets, models, risk management practices, and industry standards.

Required qualifications, capabilities, and skills 

We are looking for someone excited to join our organization.  If you meet the requirements below, you are encouraged to apply to be considered for this role.

• Experience in Model Development or Model Validation -  8 -10 Years
• Strong quantitative & analytical skills:  The role requires a strong quantitative background (PhD /Master Degree or equivalent) in Statistics,  Economics (with Econometrics), Data Science, Computer Science, Operations Research,  or a quantitative science, etc. Prefer candidates with knowledge of both statistic/econometric methodologies and Machine Learning modeling methodologies.
• Programming Skills: Knowledge of at least one programming language such as Python, SAS, R, etc.
• Product domain expertise in: consumer banking/retail banking; ability to understand the business / knowledge of regulation surrounding business) 
• Extensive Experience and familiarity in Model Development or Model Validation in Financial institutions. 
• Strong communication skills – Verbal and Written, ability to interface with stakeholders on model-related issues.
• Risk and control mindset: Ask incisive questions, assess materiality of issues and escalate as required

Preferred qualifications, capabilities, and skills

• Sound project management /organizational skills: flexible, adaptable to shifting priorities to achieve the most effective result and able to work in a fast-paced, results driven environment