Enterprise Risk Management Department-Model Risk Management Associate

Bank of China • New York, NY

35d • $42,000 - $90,000

About The Position

The job is an Associate role in Model Risk Management team, which requires the understanding of model risk management framework and regulatory requirements. The role will assist and support the team on the model risk management framework, including assisting to perform independent model validation and helping the team carry out model risk governance activities. In addition, this role supports certain tasks around model risk governance, and also support the team on contributing in End User Computing (EUC) control process as well.

Requirements

• Bachelor's degree required, Master’s degree in Financial Engineering, Mathematics, Statistics or Computer Science major preferred.
• Minimum 1 year of Risk management work or internship experience
• Demonstrate strong analytical and quantitative skills to understand and ability to validate models effectively
• Demonstrate knowledge of SR11-7, supervisory guidance on model risk management, and other relevant banking regulations from regulators including OCC and FRB.

Nice To Haves

• Specialty in credit risk models and compliance models preferred.
• FRM or CFA preferred.

Responsibilities

• Assist the team on conducting the independent model validation for models defined in the model inventory and produce model validation reports
• Support the team on reviewing the remediation of model validation findings
• Communicate with model developers/owner/users regarding validation findings and remediation activities
• Assist the team to implement the activities defined in model risk management framework and ensures that the Bank’s model risk management framework continues to align with regulatory expectations
• Assist the team to maintain model inventory and conduct annual model review/attestation processes
• Assist the team to maintain model inventory and conduct annual model review/attestation processes
• Assisting the team in EUC control framework maintenance and enhancement

What This Job Offers

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