Vice President of Model Risk Management

Amalgamated Bank of NY • New York, NY

21h • $120,000 - $140,000 • Hybrid

About The Position

This role resides within the Bank’s Enterprise Risk Management function and serves as part of the second line of defense. The Vice President of Model Risk Management (MRM) is responsible for overseeing the Bank’s Model Risk Management Program, ensuring that model risk is identified, assessed, monitored, and controlled across the full model lifecycle in accordance with internal policy and regulatory guidance. The role provides independent oversight and effective challenge to the first line of defense and supports senior management and the Board through strong model risk governance and reporting.

Requirements

• Bachelor’s degree in a quantitative discipline (e.g., mathematics, statistics, economics, finance, engineering) or equivalent experience.
• 5+ years of experience in Model Risk Management, quantitative risk, or model validation within financial services.
• Quantitative background with the ability to understand and challenge statistical, econometric, or financial models.
• Demonstrated experience providing independent challenge in a second line of defense role.
• Strong written and verbal communication skills, including the ability to explain complex quantitative concepts.

Nice To Haves

• Experience with GRC platforms and model inventory or validation tools.
• Familiarity with a broad range of model types (credit, capital, stress testing, liquidity, AML/fraud).
• Professional certifications such as FRM, PRM, or CFA.

Responsibilities

• Maintain and enhance the Model Risk Management framework, policies, procedures, and standards.
• Oversee the model inventory, including model identification, tiering, materiality, and lifecycle status.
• Provide independent challenge of model development, implementation, assumptions, limitations, and intended use.
• Review model documentation, validation results, and ongoing monitoring to assess fit-for-use.
• Oversee model validation scope, frequency, and remediation of findings.
• Develop model risk metrics, KRIs, and reporting for senior management and the Board.
• Serve as a primary point of contact for regulators and internal audit on model risk matters.

What This Job Offers

• Job Type: Full-time
• Career Level: Executive
• Number of Employees: 101-250 employees