Model Risk Management Manager (Remote)

About Byline Bank

Headquartered in Chicago, Byline Bank, a subsidiary of Byline Bancorp, Inc. (NYSE : BY), is a full-service commercial bank serving small- and medium-sized businesses, financial sponsors and consumers. Byline Bank has approximately $9.7 billion in assets and operates 45 branch locations throughout the Chicago and Milwaukee metropolitan areas. Byline Bank offers a broad range of commercial and community banking products and services, including small-ticket equipment leasing solutions, and is one of the top U.S. Small Business Administration (SBA) lenders according to the national SBA rankings by volume FY2024. Byline Bank is a member of FDIC and an Equal Housing Lender.

At Byline Bank, we take pride in being an award-winning workplace. Some of our recent recognitions include :

U.S. News & World Report named Byline Bank as one of the Best Companies to Work for in the Midwest, Finance & Overall in 2024-2025, 2025-2026.

Chicago Sun Times Chicago’s Best Workplaces 2024

Best Workplaces in Illinois in 2024 by Best Companies Group and Illinois SHRM (Society for Human Resource Management)

Forbes America’s Best Small Employers 2023

By joining our team, you will become part of an organization that values growth, collaboration, and innovation. We strive to create an environment where employees feel supported and are empowered to excel in their roles. If you're looking for a career with a company that puts people first and makes a difference in the communities we serve, Byline Bank is the place for you.

Hybrid Schedule : Travel up to 4 times a year to Corporate office

Objective of Position :

The Model Risk Management Manager is responsible for supporting the effective administration of the Bank’s Model Risk Management Program. The Program encompasses Model Risk oversight, reporting, governance, communication, education, model identification, validation, and annual reviews. The position will also interface with Business Unit’s First Line of Defense (1LoD) to train and consult, as needed.

Duties and Responsibilities :

Support the Enterprise Risk Management (ERM) team in ongoing enhancement of the Model Risk Management Program.

Manage and enhance as necessary the model risk identification and risk assessment process.

Manage the model inventory and model findings / issues resolution.

Develop and maintain the model risk appetite statement and related key performance indicators.

Prepare model risk reporting for senior management and the Board of Directors.

Conduct model validations as necessary and manage third-party validation efforts.

Coordinate model risk activities across bank departments.

Lead the Model Risk Committee and Working Group.

Keep abreast of and respond to regulatory developments and industry best practices.

Represent the Risk Department in strategic initiatives, such as new product rollouts, product enhancements, and significant system changes.

Partner with Business Units to drive a strong risk and control culture to the 1LoD across the organization.

Assist in the development and delivery of Risk training for business units (Risk awareness, 1LoD responsibilities, Risk Assessments).

All other duties as assigned.

Note : Nothing in this job description restricts management’s right to assign or reassign duties and responsibilities to this job at any time.

Qualifications :

Bachelor’s Degree or equivalent work experience.

5+ years of relevant experience working in model risk management, model development or related areas in financial services.

Strong understanding of model risk management and what constitutes an effective model risk management program.

Solid understanding of the FDIC model risk regulation (FIL-22-2017) as well as regulatory guidelines and industry best practices for model risk management and model validation.

Have a strong analytical background and numerical skills.

Be proactive and able to act on their own initiative.

Deliver high quality outcomes.

Have an ability to communicate, analyze, articulate, and present complex issues clearly and concisely both verbally and in writing.

Strong team orientation and ability to collaborate effectively with Business Units

Proficiency in Microsoft Office Suite (Excel, Word, PowerPoint)

Physical Demands / Work Environment :

Usual office environment with frequent sitting, walking, and standing, and occasional climbing, stooping, kneeling, crouching, crawling, and balancing. Frequent use of eye, hand, and finger coordination enabling the use of office equipment. Oral and auditory capacity enabling interpersonal communication as well as communication through automated devices.

At Byline Bank, we value work-life flexibility and support a hybrid work environment for this position. This role allows for a combination of remote and in-office work, with occasional visits to the office based on business needs. Specific in-office days may vary and will be discussed during the interview process.

Compensation & Benefits :

Byline Bank offers competitive industry rate salary bands with the goal of retaining and growing talented individuals. We regularly review and adjust our compensation structure as needed to ensure equity across teams and levels.

The salary range for this position is between $80,000 to $92,000.

In addition, Byline provides benefits including medical coverage, dental, vision, disability, 401k, paid time off and much more! Depending on the specific role, compensation may also include discretionary bonuses and other benefit programs. The actual compensation package may vary based on factors such as skill set, experience level, and candidate's location.

Additional Information :

Byline Bank is an Equal Opportunity Employment / Affirmative Action employer dedicated to providing an inclusive workplace where the unique differences of our employees are welcomed, respected, and valued. We are committed to the principle of equal employment opportunity for all employees and to providing employees with a work environment free of discrimination and harassment.

All employment decisions at Byline Bank are based on business needs, job requirements and individual qualifications, without regard to race, color, religion or belief, national, social or ethnic origin, sex (including pregnancy), age, physical, mental or sensory disability, HIV Status, sexual orientation, gender identity and / or expression, marital, civil union or domestic partnership status, past or present military service, protected veteran status, family medical history or genetic information, family or parental status, or any other status protected by the laws or regulations in the locations where we operate. Byline Bank will not tolerate discrimination or harassment based on any of these characteristics.

Byline Bank is committed to providing reasonable accommodations for candidates with disabilities in our recruiting process. If you need any assistance or accommodations due to a disability, please contact us directly at 773-475-2900, Option #2.

If applying within the US, this role is not eligible for visa sponsorship now or in the future.

Note to Recruitment Agencies and Third-Party Recruiters :

Byline Bank kindly requests that third-party recruiters, staffing agencies, and recruitment firms refrain from submitting resumes or candidate profiles without a prior agreement in place. Any unsolicited submissions will be considered property of Byline Bank, and no fees will be paid for placements resulting from such submissions. We appreciate your understanding and cooperation.

Byline Bank is committed to the principle of equal employment opportunity for all employees and to providing employees with a work environment free of discrimination and harassment. All employment decisions at Byline Bank are based on business needs, job requirements and individual qualifications, without regard to race, color, religion or belief, national, social or ethnic origin, sex (including pregnancy), age, physical, mental or sensory disability, HIV Status, sexual orientation, gender identity and / or expression, marital, civil union or domestic partnership status, past or present military service, protected veteran status, family medical history or genetic information, family or parental status, or any other status protected by the laws or regulations in the locations where we operate. Byline Bank will not tolerate discrimination or harassment based on any of these characteristics.