Model Risk Management - Financial Crimes Models - VP

Firm Risk Management Model Risk Management

This role will reside within Firm Risk Management's Model Risk Management team responsible for the Firm's management of model risks related to the implementation and use of Financial Crimes models and tools. This position requires strong risk management mindset, proven subject matter expertise in financial crime regulatory requirements and model validation, and excellent technical, leadership, and organizational skills.

Primary responsibilities :

• Lead and perform independent model reviews compliant with Model Risk Management policies and procedures, regulatory guidance and industry leading practices, including evaluating conceptual soundness, quality of modeling methodology, model limitations, data quality, and on-going monitoring for Firm's financial crimes models including customer risk ranking, transactions monitoring and sanctions screening models.
• Understand the use and effectiveness of financial crimes models within the context of relevant Firm businesses.
• Communicate model and tool validation conclusions to relevant stakeholders and work with relevant 1LOD and 2LOD functions to develop appropriate remedial actions to effectively resolve identified model issues. Track progress against model issue remediation actions and take appropriate review actions to resolve.
• Write comprehensive and high-quality review reports for models and tools validated, and oversee and train the model validation team in writing such reports.
• Proactively identify and escalate thematic and idiosyncratic risk themes related to the models and tools under the coverage area. Engage with relevant stakeholders in identifying effective approaches to managing such risks.
• Support high-profile, time-sensitive deliverables with limited supervision.
• Establish and sustain productive relationships with model stakeholders in 1LOD, 2LOD and 3LOD.
• Represent the Model Risk Management team in interactions with Internal Audit department and with regulatory agencies as required.

Experience required :

Skills required :