Model Risk Management Associate
Description
A growing international bank is looking for a Model Risk Management Associate with a robust background in internal controls and quantitative analysis to join the Model Risk Controls Testing Team within the Model Risk & Validation Group. This team is tasked with developing internal control activities within Model Risk and creating a testing program to verify the effectiveness of these controls.
Objectives
- As part of the second line of defense, the Model Risk Management Associate will help establish a Model Risk Controls Testing Program.
- Develop a testing approach and methodology for the identified controls.
- Independently challenge the work performed by the Model Validation and Governance Team by developing and implementing a control testing approach and methodology.
- Discuss testing results with the Model Validation and Governance team and agree on remediation actions.
- Support control testing activities as part of the RCSA program.
- Develop reports summarizing the status of Model Risk controls testing.
- Participate in other initiatives related to enhancing the Model Risk Control Framework.
- May also be involved in End-User Computing (EUC) controls testing initiatives managed under the Model Validation and Governance function.
Qualifications
- Bachelor's degree in finance, accounting, business, or a related quantitative field.
- Excellent communication (verbal and written), organizational, and interpersonal skills.
- Experience in banking, particularly in credit, capital markets, asset liability management, financial reporting, regulatory reporting, or operational risk areas. Specific experience within Model Risk Management or End-User Computing (EUC) Risk Management is ideal.
- Deep knowledge of internal controls design and controls effectiveness testing concepts.
- Experience within a second line of defense function, ideally within Model Risk, EUC, financial reporting, or regulatory reporting quality assurance.
- Familiarity with regulations such as SR 11-7 (Model Risk), Basel, CCAR, BCBS 239, and SOX is ideal.
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