Model Risk Management Lead

Summary

Join Lead, a fintech building banking infrastructure, as their Model Risk Management Lead. You will oversee the bank's Model Risk Management program, maintain the model inventory, perform due diligence on partner models, and review model documentation. This role requires close collaboration with various stakeholders to proactively identify, assess, and manage model risk. You will ensure models are appropriately registered, validated, and comply with Lead Bank's model risk policy. The ideal candidate possesses a Bachelor's degree in a quantitative discipline, 5+ years of experience in model development/validation/risk management, and strong communication skills. Lead offers competitive compensation, comprehensive benefits including medical, dental, vision, life insurance, 401k matching, paid parental leave, and a flexible vacation policy.

Requirements

• Hold a Bachelor’s Degree in a quantitative discipline such as math, physics, econometrics, statistics, or financial engineering
• Have more than 5 years of working experience in quantitative / statistical model development, model validation and/or model risk management
• Familiarity with traditional statistical models (e.g. linear / logistic regressions) as well as more advanced machine learning models (e.g. gradient boosting models)
• Possess a strong quantitatively oriented knowledge of financial products and industry best practices and regulatory requirements for model risk management
• Strong verbal and written communication skills
• Have a collaborative mind-set with strong interpersonal skills
• Knowledge of regulatory requirements for financial institutions
• Familiar with enterprise risk management framework

Responsibilities

• Oversee Lead’s overall Model Risk Management program
• Maintain Lead’s Model Inventory
• Perform due diligence on partner model risk management process as part of partner onboarding
• Review documentation, validate models and recommend enhancements covering a range of models from scorecards, regressions to machine learning algorithms
• Engage with stakeholders: Work closely with risk, finance, customers/partners, and other related function group personnel to identify, assess, monitor, and manage model risk proactively
• Ensure that, per Lead Bank model risk policy, models are: appropriately registered and risk-rated by EMRM (Enterprise Model Risk Management); validated before use; following appropriate protocol when adjustments or other changes are made to a model, its inputs or outputs
• As appropriate and where independence of oversight is not compromised, offer input on model design or use that would enhance the management of model risk

Benefits

• Competitive compensation, including opportunities for equity grants, based on experience, geographic location, and role
• Medical, Dental, Vision, Life, 401k Matching, and other wellness benefits, including FSA, HSA and HRA
• Paid parental leave
• Flexible vacation policy, including PTO and paid holidays
• A fun and challenging team environment in a dynamic industry with ample opportunities for career growth