Risk Management Officer

Wintrust provides community and commercial banking, specialty finance and wealth management services through its 16 bank charters and nine non‑bank businesses. It delivers sophisticated solutions of a large bank while staying true to the relationship‑focused, personalized service of its community banking roots. The company operates in all 50 states with more than 200 branch locations in Illinois, southwestern Florida, northwestern Indiana, west Michigan and southern Wisconsin, and has commercial banking offices in Chicago, Denver, Milwaukee, Grand Rapids, Michigan and key branch banking locations throughout Illinois. Wintrust is a $66 billion financial institution based in Rosemont, Illinois, listed on the NASDAQ Global Select Market under the symbol “WTFC.” Wintrust is an Equal Opportunity Employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, age, national origin, disability, veteran status, genetic information, and other legally protected categories. Location The role is located in Rosemont, IL and is a hybrid position with some telecommuting flexibility, but requires physical presence in the Rosemont office three days a week. Responsibilities Model Validation Perform independent and comprehensive validation of bank‑wide statistical, econometric, mathematical, qualitative (expert judgment) models for stress testing, asset allocation, valuation, pricing, BSA/AML in compliance with SR 11‑7/OCC 2011‑12 and Model Risk Management (MRM) policy and procedures. Develop a model validation testing plan commensurate with the model risk tier and perform quantitative and qualitative tests to assess models for conceptual soundness, implementation accuracy, data integrity and performance accuracy, including back‑testing, sensitivity analysis, scenario analysis, benchmarking and governance. Provide effective challenge during the validation process: review conceptual soundness; review adequacy of modeling data; materiality analysis of model assumptions and limitations; review of model theoretical framework and design; review model performance. Review model documentation to ensure compliance with regulation/policy, assessing documentation quality, developmental evidence, governance, and testing results. Design and execute a comprehensive program for data validation, model theoretical framework and design, assumptions and limitations testing, model effectiveness testing, sensitivity analysis and benchmarking for material portfolios. Ongoing Process Management, Enhancement and Updates Contribute to enhancing current processes for model validation. Manage activities related to model governance and assist the VP in creating reports for senior management, executive management, risk committees and regulatory exams. Manage and update model risk policies, standards and procedures to ensure compliance with management and regulatory requirements, and assist in the growth and maturation of the MRM framework. Use the MRM Model Validation tool to perform model validation activities, assist in the annual model certification process, maintain status updates from model owners, maintain and update the model inventory, and facilitate timely resolution of issues. Stakeholder Management Interface with key stakeholders throughout the validation process to discuss justification and reasoning behind validation and review findings. Determine whether remediation plans received from model owners adequately address findings and follow up to ensure timely remediation. AI and Risk Management Framework Execute a robust model risk management framework in line with industry best practices and expectations. Assist the VP in executing the AI and Machine Learning risk management framework. Other Assist in special ad‑hoc projects. Requirements Master’s degree in Applied Economics, Statistics, Mathematics, Data Science or related field plus a minimum of 2 years of related work experience. 2 years of experience working with financial products and associated risk management. 2 years of experience with quantitative modeling in the financial industry using financial and economic data. 2 years of experience in data handling skills using advanced statistical and numerical methods. 2 years of experience with MS Office applications such as Word, Excel and PowerPoint to generate high‑quality management reports. 2 years of experience working with a changing regulatory environment, such as the OCC 2011‑12 guidance. 2 years of experience with SAS and Python for statistical modeling and data handling. 2 years of experience with one or more of the following: R, SQL, MATLAB, VBA. Compensation The estimated salary for this role is $101,949.99, along with eligibility to earn an annual bonus. Actual salaries may vary based on several factors, such as a candidate’s qualifications, skills and experience. #J-18808-Ljbffr