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Sr. Director, Model Risk Managment
Finance & Investment Industry Company
Santa Clara, CA, United States
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Model Risk Management (MRM) is part of the Enterprise Risk Management (ERM) department of SVB. It has enterprise responsibility (in the US) for insuring compliance with the MRM program and standards. You will be the primary point of contact for the lines of business with all model risk related matters. Your in depth knowledge of model development and documentation will support the effective challenge requirement as 2nd line of defense as well as help the business understand the risks associated with their models and necessary mitigation. You will be responsible for supporting the business where models are used by providing guidance and oversight on current and emerging regulatory practices for model risk issues, monitoring and measuring performance, and reviewing and challenging model development.
The MRM program includes identification, routine performance monitoring, scheduled validation of models used by SVB. You will also coordinate independent model validation, which includes hiring and management of external resources. Scope of oversight includes models used in all business and 2nd line functions, (for example credit risk, operational, AML/BSA, stress testing). This role reports to the Head of ERM and will require regular interaction with executive committee members, external regulators and Audit.
The model risk team is located in San Francisco, Santa Clara and Salt Lake City and is not geography bound. Some travel will be required as this is a leadership, people manager position which requires relationship building w the business and the team.
Primary Responsibilities
• Manage a team of validators, and model risk managers
• Collaborate with senior stakeholders across the company on model risk governance and controls
• Identify and propose changes to enhance current model risk management standards and controls
• Develop and deliver model risk management training to members of team and other departments
• Provide support to the team on quality assurance of documents
• Directs team to maintain model inventory, open issues and mitigation
• Directs internal and external validation needs
Skills and Requirements:
• 10+ years of MRM &/or quantitative analysis experience, (PhD), preferably within Financial Services
• Experience in excellent people management
• Proven track record with client relationships in influence and gaining consensus
• Outstanding written and oral communications
• Independent and highly motivated individual
• Familiar with FRB’s Supervisory Guidance on MRM SR11-7 and 15-18