Head of Model Risk Management Framework Governance – Director

Citi•Tampa, FL

About The Position

Model Risk Policy, Standard, and Execution Manual Maintain and manage the Model Risk Management (MRM) Policy, Standard, Execution Manual, Guidelines and templates, including being accountable for significant and direct guidance to business and authoritative advice regarding the operations and requirements related to execution of the MRM Policy requirements Assess activities and processes as required per MRM Policy and Procedure to identify opportunities for enhancement and strengthen model risk management framework Manage interaction with businesses and functions across the firm and within MRM, including participating in 1LoD Model Risk forums, on matters related to model risk management Support the assessment of the effectiveness of existing model risk controls and processes, identifying areas for improvement, and implementing necessary changes. Review any new or updates to firmwide Policy documents (Framework, Policy, Standard, Procedure) outside of MRM to identify and assess impacts on MRM operations and to ensure the external Policy documents' adherence to the MRM framework. Assess new or revised regulations and perform gap analysis to identify impact on the MRM Framework and design action plan for compliance Monitor and report on MRM Policy Dispensation and Policy Breaches and impact on Accountability Framework and management scorecards Collaborate with key stakeholders to develop comprehensive corrective action plans to address identified model risk control gaps or failures Participate in firmwide initiatives that involve model risk Manage regulatory and internal audit requests and deliverables and prepare management's response to inquiries related to the MRM Framework Design and maintain the Model Risk Appetite Key Indicators and thresholds Assist in the execution of Enterprise Risk Management Framework and adherence with Risk Management and Compliance Policies Represent MRM in relevant 1LOD and 2LOD Governance Committees Oversee Conflict of Interest and Continuity of Business for Model Risk Management Lead and execute strategic initiatives (e.g., Operating Model Artificial Initiatives) related to MRM Framework. 15+ years of experience in model risk management, model development and, audit, or other control-related quantitative functions in the financial services industry. Subject matter expert in Model Risk governance, Supervisory Guidance related to Model Risk (e.g., SR 11-7, SR 15-18, OCC Handbook for Model Risk Management, etc.) Ability to identify, measure, and manage key risks and controls. Strong knowledge in the development and execution for controls. Proven experience in control related functions in the financial industry. Proven experience in implementing sustainable solutions and improving processes. Understanding of compliance laws, rules, regulations, and best practices. Strong analytical skills to evaluate complex risk and control activities and processes. Strong verbal and written communication skills, with a demonstrated ability to engage at the senior management level. Strong problem-solving and decision-making skills Ability to manage multiple tasks and priorities. Proficiency in Microsoft Office suite, particularly Excel, PowerPoint, and Word. Bachelor's/University degree, Master's degree preferred, in relevant Technical disciplines. Strong knowledge of model lifecycle, including model development and validation processes. Defining clear expectations at each model lifecycle stage, ensuring consistency and reducing ambiguity Designing governance expectation that are technically sound and practical Being able to credibly challenge existing development and validation processes, including comparing the practice across model areas Being able to provide consultation to model sponsors, developers and validators should any questions arise Designing appropriate requirements and controls that balance between risk management rigor and operational practicality Applying risk-based approach for practical decision-making Establishing and managing model risk appetite and assessing model risk at firmwide level Understanding and able to comprehend supervisory and regulatory expectation related requirements. Ensuring the design of the MRM policies and standards are aliged with regulatory expectation and that the MRM framework is credible, risk-based and defensible Designing MRM framework requirements that can be adopted for different model types and business areas Communicating credibly with business stakeholders and giving guidance on how to execute the MRM framework in line with their business circumstance Lead the design and maintenance of the MRM Framework, including MRM Policy, Standard, Execution Manual, and templates Provide interpretative directive guidance to model sponsors, developers, validators and risk partners on MRM Policy and Standard requirement Advise and consult businesses and functions on how to comply with MRM Policy and Standard Take initiative and propose ideas to further fine-tune and strengthen the MRM Framework Drive adoption of any proposed enhancements to the MRM Framework, including socializing, negotiating and persuading stakeholders Manage team, including setting strategic priority, allocating work, ensuring quality, and developing team capability through coaching and knowledge sharing

Requirements

15+ years of experience in model risk management, model development and, audit, or other control-related quantitative functions in the financial services industry.
Subject matter expert in Model Risk governance, Supervisory Guidance related to Model Risk (e.g., SR 11-7, SR 15-18, OCC Handbook for Model Risk Management, etc.)
Ability to identify, measure, and manage key risks and controls.
Strong knowledge in the development and execution for controls.
Proven experience in control related functions in the financial industry.
Proven experience in implementing sustainable solutions and improving processes.
Understanding of compliance laws, rules, regulations, and best practices.
Strong analytical skills to evaluate complex risk and control activities and processes.
Strong verbal and written communication skills, with a demonstrated ability to engage at the senior management level.
Strong problem-solving and decision-making skills
Ability to manage multiple tasks and priorities.
Proficiency in Microsoft Office suite, particularly Excel, PowerPoint, and Word.
Bachelor's/University degree, Master's degree preferred, in relevant Technical disciplines.
Strong knowledge of model lifecycle, including model development and validation processes.
Defining clear expectations at each model lifecycle stage, ensuring consistency and reducing ambiguity
Designing governance expectation that are technically sound and practical
Being able to credibly challenge existing development and validation processes, including comparing the practice across model areas
Being able to provide consultation to model sponsors, developers and validators should any questions arise
Designing appropriate requirements and controls that balance between risk management rigor and operational practicality
Applying risk-based approach for practical decision-making
Establishing and managing model risk appetite and assessing model risk at firmwide level
Understanding and able to comprehend supervisory and regulatory expectation related requirements.
Ensuring the design of the MRM policies and standards are aliged with regulatory expectation and that the MRM framework is credible, risk-based and defensible
Designing MRM framework requirements that can be adopted for different model types and business areas
Communicating credibly with business stakeholders and giving guidance on how to execute the MRM framework in line with their business circumstance

Responsibilities

Maintain and manage the Model Risk Management (MRM) Policy, Standard, Execution Manual, Guidelines and templates, including being accountable for significant and direct guidance to business and authoritative advice regarding the operations and requirements related to execution of the MRM Policy requirements
Assess activities and processes as required per MRM Policy and Procedure to identify opportunities for enhancement and strengthen model risk management framework
Manage interaction with businesses and functions across the firm and within MRM, including participating in 1LoD Model Risk forums, on matters related to model risk management
Support the assessment of the effectiveness of existing model risk controls and processes, identifying areas for improvement, and implementing necessary changes.
Review any new or updates to firmwide Policy documents (Framework, Policy, Standard, Procedure) outside of MRM to identify and assess impacts on MRM operations and to ensure the external Policy documents' adherence to the MRM framework.
Assess new or revised regulations and perform gap analysis to identify impact on the MRM Framework and design action plan for compliance
Monitor and report on MRM Policy Dispensation and Policy Breaches and impact on Accountability Framework and management scorecards
Collaborate with key stakeholders to develop comprehensive corrective action plans to address identified model risk control gaps or failures
Participate in firmwide initiatives that involve model risk
Manage regulatory and internal audit requests and deliverables and prepare management's response to inquiries related to the MRM Framework
Design and maintain the Model Risk Appetite Key Indicators and thresholds
Assist in the execution of Enterprise Risk Management Framework and adherence with Risk Management and Compliance Policies
Represent MRM in relevant 1LOD and 2LOD Governance Committees
Oversee Conflict of Interest and Continuity of Business for Model Risk Management
Lead and execute strategic initiatives (e.g., Operating Model Artificial Initiatives) related to MRM Framework.
Lead the design and maintenance of the MRM Framework, including MRM Policy, Standard, Execution Manual, and templates
Provide interpretative directive guidance to model sponsors, developers, validators and risk partners on MRM Policy and Standard requirement
Advise and consult businesses and functions on how to comply with MRM Policy and Standard
Take initiative and propose ideas to further fine-tune and strengthen the MRM Framework
Drive adoption of any proposed enhancements to the MRM Framework, including socializing, negotiating and persuading stakeholders
Manage team, including setting strategic priority, allocating work, ensuring quality, and developing team capability through coaching and knowledge sharing