VP Model Risk Management

Metropolitan Commercial Bank•New York, NY

77d•$200,000 - $230,000•Hybrid

About The Position

The Vice President Model Risk Manager with extensive big-bank experience, strong technical expertise, and proven capabilities in model risk management, risk reporting, and large-scale data management, will be responsible for developing, maintaining, and enhancing the Bank’s Model Risk Management framework in compliance with regulatory guidance (e.g., SR 11-7). This individual will be well-versed in regulatory requirements, model governance frameworks, and secure data practices, enabling a more resilient, compliant, and value-added risk management function. The Model Risk Manager will oversee the governance, validation, monitoring, and reporting of models used across the Bank—including BSA/AML, Credit, CECL, ALM, Capital planning, Stress testing, liquidity, and other decision-support models. The ideal candidate will combine strong quantitative skills with practical banking experience, expertise in data quality and visualization, and the ability to clearly communicate technical model risk findings to senior management, regulators, and business stakeholders. The knowledge and ability to conduct thorough model validations and reviews is a critical responsibility for this position. The successful candidate for this role will be a proactive and analytical individual with a solid understanding of risk management principles, excellent communication skills, and the ability to work collaboratively in a dynamic environment. This role reports to the Director of Model Risk & Risk Reporting and will be based in New York City. We have a flexible work schedule where employees can work from home one day a week.

Requirements

Master’s degree in Finance, Economics, Statistics, Mathematics, Data Science, or related field (PhD or CFA/FRM preferred).
8+ years of relevant experience in model risk management, validation, or quantitative risk within a bank or consulting firm.
Knowledge of banking regulations and regulatory frameworks, including but not limited to Basel III, Dodd-Frank Act, BSA/AML, and consumer protection laws. Knowledge of requirements for banks exceeding the $10 billion asset threshold.
Experience with CECL, ALM, stress testing, and other regulatory/decision-support models.
Strong knowledge of data quality frameworks and their application in risk management.
Knowledge of Federal Reserve, New York State Department of Financial Services and Consumer Financial Protection Bureau rules and regulations.
Strong analytical skills with the ability to interpret emerging risks and issues, and trends in Key Risk Indicator data in order to escalate any negative trends to senior management.
Proficiency in statistical/programming tools (Python, R, SAS, SQL, MATLAB).
Strong skills in Power BI (reporting, dashboards, DAX, data modeling).
Experience in data governance, lineage, and data quality assessment.
Detail-oriented and organized, with the ability to manage multiple priorities and deadlines in a fast-paced environment.
Sound judgment and decision-making skills, with the ability to balance regulatory requirements with business objectives and risk considerations.

Nice To Haves

PhD or CFA/FRM preferred

Responsibilities

Support and enhance the Bank’s Model Risk Management policy, procedures, and control framework.
Maintain a comprehensive model inventory, ensuring accuracy, completeness, and appropriate model tiering.
Oversee and lead model lifecycle governance, including development, implementation, use, monitoring, and retirement.
Ensure full compliance with SR 11-7, CECL, and other regulatory guidance.
Conduct independent validations of models, including BSA/AML, CECL/ALLL, Credit, ALM, stress testing, market risk, and liquidity models.
Assess conceptual soundness, input data integrity, methodology, and performance monitoring.
Challenge assumptions, limitations, and use cases of models, and provide recommendations for remediation.
Document validation results and present findings to senior management, committees, and regulators.
Design and implement data quality processes to support reliable model inputs and outputs, and data used across MRM reporting.
Establish controls for data accuracy, completeness, timeliness, and reconciliation across model datasets.
Develop Power BI dashboards and automated reports to track model performance, issues, and usage.
Support regulatory and management reporting through clear, visual, and actionable insights.
Execute ongoing model performance monitoring plans, including back-testing and benchmarking.
Track and manage model risk issues, findings, and remediation efforts.
Provide regular reporting on model risk metrics, emerging trends, and validation progress.
Partner with business units, finance, risk, audit, and IT to ensure models meet business and regulatory needs.
Provide training and guidance to model owners and users on governance and data quality requirements.
Support Internal Audit and regulatory examinations related to model risk.
Continuously review and enhance risk management processes, tools, and methodologies to adapt to evolving business environments and emerging risks.
Provide training and guidance to employees on risk management with the best practices and procedures.
Seek opportunities to leverage technology solutions for improving Enterprise Risk Management practices.
Other Duties as Assigned