AVP, Head of Model Risk Management

Chubb External • New York, NY

64d

About The Position

Chubb is seeking a highly motivated and experienced Model Risk Manager to join our Global Enterprise Risk Management Team. The successful candidate will play a pivotal role in leading the implementation of a comprehensive model risk management framework across Chubb Group and contributing to the effective execution of the firm’s strategic objectives.

Responsibilities

• Lead Chubb’s model governance processes, including administration of the Model Risk Committee and updates to the Model Risk Policy.
• Maintain model inventories, from model discovery, registration, risk tiering, to periodic attestation.
• Develop and apply Key Risk Indicators for early detection and monitoring of model risk.
• Review model risk and control allocation and evaluate control design in accordance with risk-based governance requirements.
• Conduct ad-hoc reviews of control execution, identifying potential issues or deviations, documenting findings, and tracking resolution.
• Advance the risk and control assessment process around models and tools.
• Report model risk to senior management committees and the Board.
• Manage the model risk management platform.
• Design and implement processes for model validation, monitoring, and performance assessment, including stress testing and backtesting.
• Report model validation results to relevant governance bodies.
• Stay current on Chubb’s business risk profiles including non-life and life risks, industry best practices and emerging trends in modelling.
• Understand regulatory compliance requirements for models within the insurance industry across different jurisdictions including the US, Europe, UK, Swiss, and APAC markets.
• Lead a team of India-based technical experts in validating Chubb’s capital models.
• Review and approve models and tools for deployment based on established governance requirements.
• Develop training programs and materials to educate Chubb employees on model governance principles and practices.
• Serve as a subject matter expert on model governance, providing guidance and support across the organization.
• Build strong relationships and trust with stakeholders across all model owner, developer and user communities within Chubb.
• Participate in ad-hoc projects to support department objectives.
• Occasional international travel is required.

What This Job Offers

• Job Type: Full-time
• Career Level: Mid Level