VP Model Risk Management

Wintrust Financial Corporation•Rosemont, IL

5d•$135,000 - $165,000•Hybrid

About The Position

Wintrust Corporate Risk Management is seeking a highly motivated Model Risk Vice President to join our Model Risk Management (MRM) team in Rosemont. As a key leader in the MRM department, supervise a team of model validation experts in the work of validating bank-wide AI systems/Machine Learning/statistical/econometric/ mathematical and qualitative (expert judgment) models in compliance with SR 26-02/OCC 26-13, Model Risk Management (MRM) policy, AI policy, and internal procedures.

Requirements

10-15 years of progressive experience in model development or model risk management within midsize or large U.S. financial institutions.
Deep knowledge of traditional statistical modeling methods (OLS, logistic regression, survival modeling, etc.)
Moderate knowledge of artificial intelligence and machine learning approaches (gradient boosting models, neural networks, k-means clustering, etc.). Familiarity with performance evaluation metrics and techniques for LLMs.
PhD or Master’s in Mathematics, Statistics, Economics, Engineering, or other quantitative field related to Artificial Intelligence
Strong programming skills in Python and experience with machine learning frameworks and data science libraries.
Excellent analytical skills and strong written communication ability.

Responsibilities

Perform validations of all types of models used in Wintrust. Conduct some model validation work directly when required, including programming in Python.
Work with the Head of Model Risk Management to continually evolve validation practices, processes, and MRM policy.
Manage and implement a comprehensive model validation framework and process for all the models in the inventory system, including AI models.
Follow emerging trends in AI technology and regulation and refine validation processes and AI use policy when needed.
Collaborate with cross-functional teams to assess and enhance models to support business strategy.
Deliver comprehensive management reports on both individual and aggregate model risk.
Facilitate regulatory examinations and internal audits of the modeling process and lead the model governance sessions to ensure compliance and foster continuous improvement in model risk management practices.