Model Risk Governance Specialist # 26-26038
- Montreal, QC, Canada
$60 USD / hour · Contract
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Job details
- Pay
- $60 USD / hour
- Job type
- Contract
- Apply by
- Experience
- 3+ years of experience in model risk management, preferably within the financial services industry.
- Posting language
- English
- Posted
Original job description
Duration: 03 Months
The position at a glance:
- RISK Independent Review & Control (RISK IRC) is a special unit within the RISK organization and reports directly to the Group Chief Risk Officer.
- The independent review arm of the department provides second line of defense for the use of various types of models and, accordingly, is in charge of model risk management. RISK IRC is composed of several model validation groups and a model governance team.
- The model governance team maintains the model inventory and helps ensure the application of the model risk management standards under the umbrella of the Federal Reserve Board letter SR26-2.
The Model Risk Governance Specialist is responsible for the following activities:
- Ensure compliance with all relevant regulatory requirements and internal standards related to model risk management under the guidance of the Head of RISK IRC Americas.
- Prepare and present regular reports on model risk status, issues, and mitigation efforts to senior management, internal audit and regulators.
- Coordinate and engage the model validators to ensure that model risk management practices are integrated into the model development and validation processes.
- Provide training and guidance to stakeholders on model risk management principles and best practices.
- Maintain an updated model inventory in accordance with model risk management (MRM) decisions.
- Manage the recommendations inventory and engage with the validators and implementation managers to ensure their adequate and timely resolution.
- Coordinate the annual model attestation with Business Lines and the effective challenge exercise to ensure the completeness and accuracy of the model inventory.
- Maintain and update when necessary, model risk policies, standards, and procedures to ensure consistent and effective model risk management.
- Contribute to the Operational risk framework. Support the annual operational Risk and Control Self-Assessment (RCSA) of RISK IRC Americas. Document the permanent controls applied by model governance team to ensure the oversight and robustness of the MRM framework.
- Bachelor’s or Master’s degree in Finance, Economics, Mathematics, Statistics, or a related field.
- 3+ years of experience in model risk management, preferably within the financial services industry.
- Ability to work in a fast-paced environment and manage multiple deadlines at once.
- Excellent analytical and organizational skills.
- Ability to engage various stakeholders and deliver clear reports.
- Good synthesis skills and critical thinking capabilities.
- Highly efficient with Word, PowerPoint, Outlook and Excel.
- Knowledge of the English is required.
- Programming skills (Python).
- Knowledge of AI models governance or validation.
- Knowledge of regulatory guidance on model risk management and banking regulation.
- Knowledge of databases and systems for model inventory management.
- Experience in interacting with model validators or internal auditors.
- Experience in writing policies and procedures.
About US Tech Solutions:
US Tech Solutions is a global staff augmentation firm providing a wide range of talent on-demand and total workforce solutions. To know more about US Tech Solutions, please visit www.ustechsolutions.com.
US Tech Solutions is an Equal Opportunity Employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, disability, or status as a protected veteran.
AI Statement: By applying, you acknowledge that AI-assisted tools may be used during hiring.
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More about this job
Responsibilities
Ensure model risk management complies with regulatory requirements and internal standards, maintain the model inventory and recommendations register, and coordinate annual model attestations and effective challenge exercises. Report model risk status and mitigation to senior stakeholders, support training and operational risk assessments, and maintain governance policies, procedures, and controls.
Requirements
A bachelor’s or master’s degree in finance, economics, mathematics, statistics, or a related field and at least three years of model risk management experience are required. Candidates should have strong analytical, organizational, communication, and critical-thinking skills; Python, AI model governance, regulatory guidance, inventory systems, and policy-writing experience are preferred.
Skills
- Model Risk Management
- Regulatory Compliance
- Model Governance
- Model Inventory Management
- Risk Reporting
- Stakeholder Engagement
- Analytical Skills
- Organizational Skills
- Critical Thinking
- Microsoft Word
- Microsoft PowerPoint
- Microsoft Outlook
- Microsoft Excel
- Python
- AI Model Governance
- Policy and Procedure Writing
Visa sponsorship
Not detected in the job text
Categories
- Finance & Accounting
- Management & Leadership
- Data & Analytics
- Technology
Keywords
- Model Risk Management
- Model Governance
- Model Validation
- Regulatory Compliance
- Federal Reserve Board
- SR 26-2
- Model Inventory
- Recommendations Inventory
- Model Attestation
- Effective Challenge
- Operational Risk
- Risk and Control Self-Assessment
- Permanent Controls
- Risk Reporting
- Internal Audit
- Banking Regulation
- Policies and Procedures
- Python
- AI Model Governance
- Databases
- Microsoft Word
- Microsoft PowerPoint
- Microsoft Outlook
- Microsoft Excel
- Finance
- Economics
- Mathematics
- Statistics