Model Risk Governance Framework and Reporting Manager

U.S. Bank • Minneapolis, MN

3d • Onsite

About The Position

At U.S. Bank, we’re on a journey to do our best. Helping the customers and businesses we serve to make better and smarter financial decisions and enabling the communities we support to grow and succeed. We believe it takes all of us to bring our shared ambition to life, and each person is unique in their potential. A career with U.S. Bank gives you a wide, ever-growing range of opportunities to discover what makes you thrive at every stage of your career. Try new things, learn new skills and discover what you excel at—all from Day One. Job Description The Model Risk Governance (MRG) group is responsible for designing, implementing, maintaining and enforcing the Model Risk Management (MRM) program within the Bank. This includes design and execution of policies, standards, and internal procedures for all phases of model life cycle from identification and inventorying to implementation, maintenance, and retirement. MRG provides oversight of model development and validation and is responsible for reporting on the Bank’s overall model risk. The Model Risk Governance Framework and Reporting Manager role reports to the Director of Model Risk Governance within Model Risk Management. The role is responsible for ownership of the model risk management framework and reporting on model governance, development, validation, and monitoring for the organization. The Model Risk Governance Framework and Reporting Manager will be responsible for: Enhancing, implementing, and maintaining the model risk management program within the Bank. This includes design, update and execution of policies, ownership and validation standards, development and validation templates, and internal procedures for all phases of model life cycle from identification and inventorying to implementation, maintenance, and retirement. Ensuring overall compliance of the MRM program with regulatory guidance on model risk management, staying current with changes in regulatory expectations and leading industry practices. Providing training and communication of the expectations of the MRM program to stakeholders across the organization. This is inclusive of coordinating with Model Risk Governance leads to ensure consistency of communication of program requirements and reporting on model risk throughout the team and to all stakeholders. Maintain and report on the MRM control inventory, execution, and evidence. Oversee reporting related to model risk and the MRM program for presentation to senior management and during risk management committees. Oversee the creation of accurate and professional reports, presentations and dashboards distributed to MRM senior leadership, managing committee and Board. Oversee the design and execution of process improvements that focus on report automation Oversee program administration tasks such as ownership of the Model Risk Management SharePoint and ensuring compliance with risk category owner requirements. As this role will involve interaction with regulatory agencies, auditors, and all levels of management within the organization, the candidate must have: Strong leadership qualities, In-depth knowledge of and experience with model development and validation practices; Strong understanding of the regulatory guidance on model risk management and risk management procedures; Hands-on experience in model building and/or validation; Experience managing quantitative teams; Ability to influence outside of the formal chain of command; and Strong written and verbal communication skills.

Requirements

• Strong leadership qualities
• In-depth knowledge of and experience with model development and validation practices
• Strong understanding of the regulatory guidance on model risk management and risk management procedures
• Hands-on experience in model building and/or validation
• Experience managing quantitative teams
• Ability to influence outside of the formal chain of command
• Strong written and verbal communication skills
• Bachelor’s degree (MA/MS/PhD strongly preferred) and nine or more years of relevant experience
• Five or more years of experience leading a quantitative modeling team

Nice To Haves

• Extensive knowledge of various regression techniques, parametric and non-parametric algorithms, times series techniques, and other statistical models, various model validation tests/methodologies, using SAS or similar statistical package
• Advanced data compilation, programming skills and qualitative analysis skills
• Thorough knowledge of the quantitative and qualitative risk factors, industry risks, competition risks, and risk management approaches
• Thorough knowledge of applicable regulatory rules, guidance, or supervisory letters
• In depth knowledge of Bank products and services
• Demonstrated independence, teamwork and leadership skills
• Strong analytical, organizational, problem-solving, negotiation, and project management skills
• Excellent interpersonal, verbal and written communication skills

Responsibilities

• Enhancing, implementing, and maintaining the model risk management program within the Bank.
• Ensuring overall compliance of the MRM program with regulatory guidance on model risk management, staying current with changes in regulatory expectations and leading industry practices.
• Providing training and communication of the expectations of the MRM program to stakeholders across the organization.
• Maintain and report on the MRM control inventory, execution, and evidence.
• Oversee reporting related to model risk and the MRM program for presentation to senior management and during risk management committees.
• Oversee the creation of accurate and professional reports, presentations and dashboards distributed to MRM senior leadership, managing committee and Board.
• Oversee the design and execution of process improvements that focus on report automation
• Oversee program administration tasks such as ownership of the Model Risk Management SharePoint and ensuring compliance with risk category owner requirements.

Benefits

• Healthcare (medical, dental, vision)
• Basic term and optional term life insurance
• Short-term and long-term disability
• Pregnancy disability and parental leave
• 401(k) and employer-funded retirement plan
• Paid vacation (from two to five weeks depending on salary grade and tenure)
• Up to 11 paid holiday opportunities
• Adoption assistance
• Sick and Safe Leave accruals of one hour for every 30 worked, up to 80 hours per calendar year unless otherwise provided by law

What This Job Offers

• Job Type: Full-time
• Career Level: Manager
• Number of Employees: 5,001-10,000 employees