Model Risk Governance Associate Director

DTCC

2d

About The Position

The Model Risk Governance Associate Director is responsible for ensuring that models used within DTCC are identified and captured in the firm’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 interacts with internal and external stakeholders, including Quant groups, Market and Liquidity Risk, IT, management, clients, Internal Audit, and regulators.

The position maintains the DTCC Model Inventory in Process Unity, oversees model risk issue management, and prepares status and inventory reports for stakeholders, including senior management and Board members. It also supports the Risk Rating Assessment process and regulatory reporting, identifies ways to increase model risk awareness, develops automation tools using AI tools and agents, and provides technical support and testing for model risk systems.

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 programming languages such as 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 for model risk management, including SR26-2 and SEC Covered Clearing Agency Standards.
• Energy and flexibility to get things done and thrive in a fast-paced, collaborative enterprise risk management environment.
• Outstanding verbal and written communication skills.

Nice To Haves

• Master’s degree preferred.

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 and coordinate with model-owner stakeholders to create inventory records promptly.
• Manage the Model Risk Management issue process, including reviewing and entering issue descriptions, monitoring action-plan progress against due dates, and reporting on issue management.
• 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 help ensure models follow model risk management policies and procedures.
• Prepare the quarterly inventory report and support the Risk Rating Assessment process, including providing accurate and complete overarching reports to DTCC regulatory relations for distribution to 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