Model Risk Governance Associate Director

DTCC • Boston, MA

2d • $95,000 - $180,000 • Hybrid

About The Position

The Model Risk Governance Associate Director is responsible for ensuring that models used within the firm are identified and recorded in DTCC’s model inventory, and for managing model identification processes such as the firm-wide annual survey and model determination assessments. The role works closely with model validation and engages with internal and external stakeholders, including quantitative groups, Market and Liquidity Risk, IT, management, clients, Internal Audit, and regulators.

The position also oversees model risk issue management, maintains inventory and issue status reporting for stakeholders and senior leadership, supports quarterly inventory reporting and the Risk Rating Assessment process, and helps promote adherence to model risk policies and procedures. It develops automation tools using AI tools and agents and provides expertise, technical support, and testing for model risk systems implementation and maintenance.

Requirements

• At least 7 years of related experience in a Model Risk Governance role.
• Bachelor’s degree required.
• Broad knowledge of AI/ML models, particularly Large Language Models and Generative AI models.
• Broad expertise in quantitative finance and/or risk management models and methodologies.
• High digital literacy, including working knowledge of Visual Basic, R, and Python.
• Excellent written and verbal communication and presentation skills, including the ability to communicate quantitative concepts to financial professionals.
• Deep understanding of the regulatory environment surrounding model risk management, including SR26-2 and SEC Covered Clearing Agency Standards.

Nice To Haves

• Master’s degree preferred.
• Energy and flexibility to succeed in a fast-paced, collaborative enterprise risk management environment.
• Outstanding verbal and written communication skills.

Responsibilities

• Attend firm-wide initiative meetings and review third-party requests to identify potential models, make model determinations, and document the rationale.
• Maintain the DTCC Model Inventory in Process Unity, coordinating with model owner stakeholders to create inventory records in a timely manner.
• Manage the MRM issue management process, including reviewing and entering issue descriptions, tracking action-plan progress against due dates, and conducting issue management reporting.
• Produce and maintain status reports on inventory activities and issue management for stakeholders, including senior management and Board members.
• Identify risks and opportunities to increase model risk awareness and ensure models follow model risk management policies and procedures.
• Prepare the quarterly inventory report and support the Risk Rating Assessment process, distributing overarching reports to DTCC regulatory relations and ensuring accuracy and completeness for external regulators.
• Develop and implement automation tools to improve team efficiency using AI tools and agents.
• Provide expertise, technical support, and testing for model risk-related systems implementation and maintenance.

Benefits

• Competitive compensation, including base pay and annual incentive.
• Comprehensive health and life insurance and well-being benefits, based on location.
• Retirement benefits.
• Paid time off and other leave of absence.
• Flexible/hybrid work arrangements.

What This Job Offers

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