Model Risk Specialist

Overview

Responsible for the validation of models and periodic monitoring to ensure models remain suitable for Bank’s use.

What you will do:

• Conduct independent model validation and provide a comprehensive effective challenge of models by partnering with model owners and developers, following Bank policies, regulatory requirements, and industry best practices
• Write validation reports documenting the independent validation process including important observations, recommendations, and associated remedial actions
• Maintenance of model inventory and other model risk management tools
• Create and update frameworks, policies, and procedures documents related to Model Risk Management.
• Assist the Model Risk Manager for any risk-related or project-related activities
• Develop and maintain effective working relationships with key stakeholders, ensuring effective communication and understanding of model validation findings
• Review and oversight on model performance monitoring reports to ensure satisfactory performance and corrective actions where required as necessary
• Monitor the remedial actions taken by model owners and developers to ensure model validation findings are addressed in a timely manner
• Assist with regulatory exams and internal audits to address and prevent recurrence of identified gaps and deficiencies
• Work with model owners to ensure model documentation and testing meets the latest governance standards and is suitable for independent validation purposes

What we are looking for:

• Strong analytical, quantitative, and organizational skills.
• Proficiency in programming languages like R and Python, with experience in model validation or risk management.
• Background in banking or financial services and expertise in financial products.
• Deep knowledge of modeling techniques.
• Ability to manage multiple workstreams effectively and deliver risk governance, including implementing risk controls and governance frameworks.
• Practical experience in running management or executive-level committees and broader risk governance processes.
• Strong stakeholder management, verbal and written communication skills, especially in dealing with senior management.
• Advanced analytical abilities with attention to detail and an interest in problem-solving.
• Experience in reporting, with the capability to develop reports, presentations, and perform ad-hoc analyses for senior management and the board.