Model Risk Management Officer

EagleBank•Bethesda, MD

2d•Hybrid

About The Position

EagleBank is seeking a skilled and experienced Model Risk Management Officer specializing in stress testing and model validation to join a strong community bank in the Washington DC area, focusing on commercial real estate lending with assets of approximately $11 Billion. The Model Risk Management Officer aids the Board of Directors, senior management, and personnel in the governance of data and the assurance of data integrity through the administration of a comprehensive data governance strategy and the use of data analytics. As a Model Risk Management Officer, you will play a vital role in assessing, monitoring, and managing the risks associated with the bank's models in areas such as CECL, Commercial Credit Portfolio, Construction Portfolio, Capital Planning, Liquidity etc. with a particular focus on stress testing and model validation. You will work closely with various departments, including Risk Management, Credit Risk, Finance, Internal Audit, Executive management, and Regulators, to ensure the accuracy, integrity, and compliance of the bank's models with various banking regulations.

Requirements

Bachelor’s Degree in Arts/Sciences (BA/BS) or advanced degree in finance, economics, mathematics, statistics, or a related quantitative field
8 years of experience in model risk management within the financial services industry, with a strong focus on stress testing and model validation
In-depth knowledge of stress testing methodologies, regulatory requirements (eg, CCAR, DFAST), and best practices
Able to model, analyze, identify, and communicate risk
Proficiency in statistical modeling, risk assessment techniques, and model validation principles
Familiarity with financial products, risk management frameworks, and Basel guidelines
Excel expertise – truly the highest level of excel user
Strong analytical and critical thinking skills, with the ability to think critically and independently
Excellent written and verbal communication skills, with the ability to convey complex concepts to both technical and non-technical stakeholders
Solid understanding of regulatory guidelines, such as SR 11-7, SR 15-18, and SR 16-11
Familiarity with programming languages (eg, Python, R) and statistical software (eg, SAS, MATLAB) is desirable

Nice To Haves

Professional certifications such as FRM (Financial Risk Manager) or CFA (Chartered Financial Analyst) are advantageous

Responsibilities

Conduct Stress Testing: Develop and implement stress testing frameworks and methodologies to assess the bank's exposure to various stress scenarios.
Collaborate with the risk management team to identify potential risks and evaluate the impact of stress events on the bank's financial positions, including liquidity, credit, and market risks.
Model Validation: Perform rigorous model validation to ensure the accuracy, robustness, and appropriateness of the bank's models.
Review and validate models across different areas, including credit risk, market risk, liquidity risk, and operational risk.
Evaluate model assumptions, data integrity, calibration, and performance, and provide recommendations for improvement when necessary.
Risk Assessment: Analyze and assess the risks associated with the bank's models, including model limitations, data quality, and model assumptions.
Identify potential model risks and develop risk mitigation strategies and controls to minimize the bank's exposure to model-related risks.
Stay up to date with industry best practices and regulatory requirements related to model risk management.
Documentation and Reporting: Prepare comprehensive reports documenting the findings of stress testing and model validation activities.
Clearly communicate the results, including identified model risks and recommended actions, to senior management, risk committees, and regulatory authorities.
Ensure the accuracy and completeness of documentation in compliance with internal policies and regulatory guidelines.
Collaboration and Stakeholder Management: Collaborate effectively with various stakeholders, including quantitative modelers, risk managers, senior management, and internal audit teams.
Provide guidance and support to other teams in understanding and addressing model risk issues.
Participate in meetings, committees, and working groups related to model risk management.
Continuous Improvement: Proactively identify opportunities for enhancing the bank's stress testing and model validation practices.
Recommend and implement improvements in methodologies, processes, and tools used for stress testing and model validation.
Stay abreast of emerging trends, industry standards, and regulatory changes in model risk management.