Risk Model Validation Director

Sumitomo Mitsui Banking Corporation • Jersey City, NJ

115d • $213,000 - $235,000

About The Position

Reporting to the Head of Model Risk, the Risk Model Validation Director plays an active role in the implementation of Model Risk Management framework for the Combined U.S. Operations of SMFG by performing independent validation and review of Stress Testing Models. As part of the Risk Management Department, the Model Risk & Validation department enhances the Model Risk Management framework for the Americas Division to ensure continuous improvement of the model quality and governance. The Team Lead of Model Validation applies numerical, statistical and qualitative knowledge to perform model validation and measures, monitors and reports model risk from model validation perspectives. This position provides model validation support to various types of models. Expertise is required to have great understanding of statistical models, identify issues and limitations, and provide recommendation to enhance existing models.

Requirements

• Knowledge and skill set in model validation and model development; and working with large and complex data sets.
• Ability to apply regulatory requirements outlined in CECL, IFRS9, SR11-7, capital, CCAR, and DFAST, and other regulations and rules to conducting model validation and model governance assignments.
• Strong analytical skills, both quantitative and qualitative.
• Good problem solver; ability to learn quickly; able to work multiple cross-functional efforts.
• Effective interpersonal skills, strong communication, especially written.
• Programming skills: Python, R, SAS, SQL.
• Recommended years of experience: 10.

Responsibilities

• Conducts model validation and model risk governance across SMBC businesses and group companies.
• Develops model validation methodology to assess models to confirm the conceptual soundness of model theory, quality of model implementation, and robustness of model ongoing monitoring.
• Conducts thorough review on model annual assessment, model changes, and ongoing monitoring results.
• Develops and maintains documentation, work papers and professional reports of validation results.
• Communicates findings from validation work to management and stakeholders, including recommendations as appropriate.
• Ensures business continuity under all conditions, sometimes adverse, with strict adherence to established guidelines and deadlines.

Benefits

• Competitive portfolio of benefits offered to employees.
• Annual discretionary incentive award.

What This Job Offers

• Job Type: Full-time
• Career Level: Senior