- The Model Governance Senior Analyst is part of the Enterprise Risk and Governance team responsible for identifying, assessing and reporting model risk.
- The Model Governance Senior Analyst aids with the continuous development of sound model risk management practices and supports the evolution and execution of the Model Governance Program.
- This position is responsible for helping ensure that all aspects of the model’s life-cycle complies with Model Governance policies and procedures including the periodic validation and monitoring of models.
- The role will perform independent model risk oversight activities, including model identification, determination, classification, inventory management, validation, review, issue remediation testing, reporting, and related activities.
The primary responsibilities include, but are not limited to:
- Contribute to the development of a sound Model Risk Management Framework
- Assist in the ongoing evolution of the Model Risk Management function
- Manage the evaluation of new models, coordinate the validation of changes to existing models and the retirement of decommissioned models
- Assess model risk
- Assist with control design or implementation
- Enhance and/or maintain guidance documentation to support the governance requirements of Model Risk Management
- Support quarterly Model Impact Certification process
- Support model life-cycle management and model validation for various stakeholders across business lines
- Participate in special projects as needed
- Assist in the evolution and execution of the Model Governance Program
- Provide support in the execution of Model Risk Mitigation activities
- Assist in improving the Model Risk Management program, by implementing best practices, recommending process improvements, and evolving standards or guidelines
- Manage the database for model or tool inventory, validation findings and remediation plans
- Work across lines of businesses to assess model risk
- Demonstrate independence and strong compliance to policy and procedures in model review activities
- Design of independent testing to determine model adequacy
- Monitor existing models for adequate performance
- Write technical work papers based on risk testing activities
- Communicate model issues and limitations to Model Governance Consultant and business units with remediation recommendations
- Perform other validation activities such as annual reviews, issue remediation testing, significant analytical tool exams, significant change reviews and ongoing monitoring assessments, among other activities.
Required Other Qualifications:
- Financial Services, banking or automotive industry experience
Preferred Other Qualifications:
- Familiarity with Enterprise Risk Management Methodologies
- Strong oral and written communication skills
- Ability to prioritize, manage time well, and multitask
- Ability to work with ambiguous or changing work situations, tasks, assignments
- A high degree of organization skills with the ability to work in a deadline driven environment
- Experience in advanced analytics and modeling with Data Science Tools such as Python, R, SAS, SQL, etc.
- 2 to 3 years experience writing and/or reviewing comprehensive statistical model documentation.