Model Risk Program Manager

Suncoast Credit Union•Tampa, FL

6h•$90,000 - $140,000•Remote

About The Position

The Model Risk Program Manager (MRM) serves as an associate in the Enterprise Risk Management (ERM) Team, which reports to the Director of Enterprise Risk Management. Key responsibilities include creating and managing the framework components of the MRM Program, including maintenance of MRM policies, developing new policies and procedures, and creating governance documents that aid in effectively managing MRM processes, including the use of Artificial Intelligence (AI) within models. The incumbent is tasked with creating and maintaining risk and control libraries and developing appropriate reporting to be presented to Board and Management committees. This individual is responsible for managing the credit union’s Model Risk Management Program, including scheduling model validations, working with internal Model Owners to facilitate the validation process, assigning risk tiers to models, creating management and committee reporting, and establishing and maintaining the credit union’s model inventory.

Requirements

Bachelor's degree in a quantitative field such as statistics, economics, finance, MIS, engineering, or a related discipline
Minimum of 5 years of risk management, auditing, or compliance experience, with prior model risk management experience preferred
Comfortable working with large amounts of data
Ability to prioritize tasks by effectively managing competing and changing priorities to meet deadlines
Accurate, detail-oriented, and organized with task management
Ability to analyze and resolve difficult and often complex problems or situations
Strong written, verbal, and interpersonal communication skills to interact effectively with members, staff, vendors, and government regulators
Strong knowledge and understanding of credit union products, services, policies, and procedures
Strong knowledge and understanding of regulatory compliance
Strong knowledge and understanding of credit union computer systems and software applications required to perform job duties

Nice To Haves

Professional certifications such as CIA, CRMA, CUERP, or other applicable certifications, preferred
Experience in AI, stress testing, interest rate risk, and/or credit risk models preferred

Responsibilities

Develop new, and maintain existing, documents to support the MRM Program framework, including developing appropriate risk scoring methodologies, creating and updating departmental policies and procedures, creating governance documents, managing and contributing to the credit union’s risk and control libraries
Suggest appropriate Key Risk Indicators that align with current organizational strategies and maintain the KRI library, developing appropriate reporting to effectively communicate risk to Senior Staff, Board Committees, and regulatory agencies
Manage Suncoast’s Model Risk Management Program on an ongoing basis, including acting as the primary contact with outside vendors, scheduling staff training, managing the model inventory, maintaining governing documents, preparing committee reporting, assigning model risk tiers, and scheduling model validations
Manage the identification and assessment of enterprise risks, including strategic, operational, reputational, and risks inherent in key initiatives and processes, and work with appropriate business units and project teams to develop action plans to manage and mitigate these risks
Ensure enterprise risks are monitored as business conditions change, and update the credit union’s Governance, Risk and Compliance system to reflect any changes to monitored risks
Ensure the model inventory is complete and accurate
Lead risk assessment sessions to identify business, process, and project risks to ensure they are effectively and efficiently addressed, and within enterprise risk appetite
Provide guidance and support as a Subject Matter Expert, assisting business units with developing organizational capabilities and increasing value through effective risk management
Monitor compliance with risk policies by working with business units and project teams to ensure that self-testing of key controls is in place and working effectively to identify gaps and deficiencies, and monitor response strategies for corrective action
Monitor and facilitate changes in business processes necessary to meet regulatory changes and mitigate risk exposure to the credit union, taking into consideration peer practices related to risk management
Escalate any material breaches of applicable laws, rules, policies, procedures or standards with actual or potential risk impact promptly to appropriate management or risk committee with recommended corrective action
Participate in periodic assignments related to the consistently evolving risk management environment
Develop and provide organizational MRM training to create awareness through regular material updates and integration with existing learning and development programs
Train first-line risk and compliance business partners to identify models within first line business units
Advise senior leadership of findings
Maintain knowledge and understanding of current trends, laws, and issues affecting the area of expertise
Attend educational events to increase professional knowledge
Complete annual compliance and info security training to understand employees' role in maintaining effective compliance and security programs