Model Risk Management Associate Director

Western Alliance Bank • Novi, MI

219d

About The Position

As a Model Risk Management Associate Director you'll enhance policies and procedures and maintain model, simple analytical approach (SAA), and critical spreadsheet inventories. You'll oversee issue management and produce quarterly reports and assist with validation activities, as needed. You'll ensure the integrity and efficacy of quantitative models, oversee model risk, and collaborate with stakeholders to manage and mitigate risks. You'll verify that models are performing as expected and identify potential limitations including assessing potential impact. Liaise between the Model Risk Management Group and model developers/owners, other risk management functions, and Internal Audit. Conduct enterprise-wide training on identification, assessment, mitigation, and monitoring of the models and critical spreadsheet risk. Conduct validation activities (including annual reviews), as needed and produce quarterly reports on the state of model and critical spreadsheet risk, including key risk indicators. Safeguard the bank against regulatory, financial, and reputational risks linked to model risks. Lead and develop a team; responsible for hiring, coaching, performance management, training and development.

Requirements

• 10+ years of related experience in Finance or similar field.
• Masters or MBA in related field required; PhD in related field preferred.
• Previous leadership experience preferred.
• Advanced knowledge of general banking operations.
• Advanced knowledge of applicable regulatory and legal compliance obligations.
• Advanced experience in analytics or quantitative modeling research.
• Advanced experience in technical model development and implementation.
• Advanced speaking and writing communication skills.
• Occasional travel required.

Responsibilities

• Enhance policies and procedures related to model risk management.
• Maintain model, simple analytical approach (SAA), and critical spreadsheet inventories.
• Oversee issue management and produce quarterly reports.
• Assist with validation activities as needed.
• Ensure the integrity and efficacy of quantitative models.
• Oversee model risk and collaborate with stakeholders to manage and mitigate risks.
• Verify that models are performing as expected and identify potential limitations.
• Liaise between the Model Risk Management Group and model developers/owners.
• Conduct enterprise-wide training on model risk identification, assessment, mitigation, and monitoring.
• Conduct validation activities including annual reviews.
• Produce quarterly reports on the state of model and critical spreadsheet risk.
• Safeguard the bank against regulatory, financial, and reputational risks linked to model risks.
• Lead and develop a team, responsible for hiring, coaching, performance management, training and development.

Benefits

• Competitive salaries.
• Ownership stake in the company.
• Medical and dental insurance.
• Time off.
• Great 401k matching program.
• Tuition assistance program.
• Employee volunteer program.
• Wellness program.

What This Job Offers

• Job Type: Full-time
• Career Level: Senior
• Industry: Credit Intermediation and Related Activities
• Education Level: Master's degree