A major clearing house is growing Model Risk Management and is seeking a new Director of Model Risk Governance to spearhead a specialized team for the 2nd line of defense. The Director will be responsible for establishing an effective model risk governance framework program across the organization and serve as an SME on governance and controls initiatives for model risk. They will work directly with the Head of Model Validation.
Responsibilities
- Revamp and establish an effective model risk governance program for the organization
- Conduct model testing and provide effective challenge on governance related initiatives
- Serve as an SME in Model Risk for 2nd line controls and liaison with regulators and 1st line as needed
- Lead a dedicated but specialized team
Requirements
- 10+ years in model risk management
- Experience in the 2nd line of defense and model risk governance
- Experience in establishing an effective model risk governance program
- Experience with market risk models (VaR, SVaR, etc.) and fixed income and mortgage models
