Senior Manager, Model Risk Management

BDO USA•New York, NY

4d•$175,000 - $210,000

About The Position

Job Summary: The Senior Manager, Valuation & Capital Market Analytics – Model Risk Management (MRM) is responsible for managing the execution and delivery of challenging Model Risk Management related engagements by performing risk management related activities such as designing effective challenge and validation of models, independent review of model documentation and governance, writing high quality model validation reports and will the initial proposal preparation through project completion. This role is actively engaged in the management of model risk management assignments and managing staff in the development of such assignments. Job Duties: Oversees the independent review and model validation of models (Credit, Market, Forecasting, etc.) compliant with Model Risk Management policies and procedures, regulatory guidance, and industry leading practice Conducts quantitative analytics, complex econometric modeling projects and capital stress testing models Examines conceptual soundness of models being validated Conducts thorough testing and provides critical review of conceptual and performance aspects of the model Presents work through formal validation reports, as well as thorough presentation to the client model owners and senior management Manages a team within Model Risk Management, organizes schedules of deliverables and meets deliverable due dates, and escalates issues Writes high-quality validation documentation that satisfies the client’s internal model approval functions, audit requirements, and regulatory standards Represents BDO’s Model Risk Management team in interactions with the client, external audit teams and regulatory bodies Communicates model validation conclusions to BDO internal senior management and relevant project stakeholders Other duties as required

Requirements

Undergraduate degree in Mathematics, Econometrics, Statistics, Financial Engineering, or Quantitative Finance, required
Six (6) or more years of relevant work experience (Model Risk Management), required
Demonstrated experience applying financial instrument valuation concepts, required
Experience explaining difficult modeling and statistical concepts to diverse audiences and to experts at various clients, required
Experience in leading and performing Model Validation, required
Experience in writing Model Validation reports, required
Proficient in the use of Microsoft Office Suite, specifically Excel, PowerPoint, and Word, required
Experience with R, SAS, Python, or related programming languages, required

Nice To Haves

Master’s degree, preferred
Experience and strong familiarity with Data Science, Artificial Intelligence / Machine Learning, Modeling Techniques, preferred
Background in Model Risk, including detailed knowledge of model validation related to statistical, AI and machine learning models, preferred
PhD, CIA, CFA, CCA, CMA, CAIA, QRM, or FRM certifications, preferred

Responsibilities

Oversees the independent review and model validation of models (Credit, Market, Forecasting, etc.) compliant with Model Risk Management policies and procedures, regulatory guidance, and industry leading practice
Conducts quantitative analytics, complex econometric modeling projects and capital stress testing models
Examines conceptual soundness of models being validated
Conducts thorough testing and provides critical review of conceptual and performance aspects of the model
Presents work through formal validation reports, as well as thorough presentation to the client model owners and senior management
Manages a team within Model Risk Management, organizes schedules of deliverables and meets deliverable due dates, and escalates issues
Writes high-quality validation documentation that satisfies the client’s internal model approval functions, audit requirements, and regulatory standards
Represents BDO’s Model Risk Management team in interactions with the client, external audit teams and regulatory bodies
Communicates model validation conclusions to BDO internal senior management and relevant project stakeholders
Other duties as required