This job has expired, please see additional jobs below
Vice President - Model Validator
BNP Paribas
New York, NY, United States
Job Details - this job has expired, please see similar jobs below
Business Overview:
The Intermediate Holding Company (“IHC”) program structured at the U.S. level across poles of activities of BNP Paribas provides guidance, supports the analysis, impact assessment and drives adjustments of the U.S. platform’s operating model due to the drastic changes introduced by the Enhanced Prudential Standards (“EPS”) for Foreign Banking Organizations (“FBOs”) finalized by the Federal Reserve in February 2014, implementing Section 165 of U.S. Dodd-Frank Act.
Risk Independent Review and Control is responsible for the Model Risk Management framework for the BNP Paribas CUSO and IHC. Within RISK IRC there is a Model Governance team and several Model Validation groups. The Model Validation groups are responsible for performing an independent effective challenge of all modelling choices in accordance to internal policies, procedures and standards and under the umbrella of Federal Reserve Board letter SR11-7.
Responsibilities:
1. Conduct independent quantitative reviews of models developed within CIB in accordance with internal standards and regulatory letter SR11-1
◦ Provide challenge of conceptual soundness, reasonableness of model output, implementation and any other relevant modelling aspects impacting fit-for-use.
◦ Work with validation managers to develop an appropriate validation plan to provide effective challenge commensurate with the level of model risk
◦ Produce documentation of effective challenge process and materials to support committees in review and decisions
◦ Defend conclusions to management
◦ Ensure all record keeping requirements are met
2. Provide oversight and guidance to independent reviews performed by more junior model validators
◦ Act as Validation Manager responsible for final output of effective challenge performed by more junior team members
◦ Approve validation plans, provide periodic guidance through the review process, ensure appropriate focus on material issues, review and approve final challenge documentation prior to finalization
3. Take primary responsibility for validation efforts for model areas where assigned ‘Validation Lead’ role (most likely at least one of ALMT or Compliance depending on experience)
◦ Have detailed knowledge about 1st line development and use of models
◦ Work with senior leaders and model owners as a credible second line of defense
◦ Work to ensure overall compliance including appropriate scheduling of validation efforts
◦ Provide and translate effective challenge in an ‘independent yet business minded’ manner
◦ Guide stakeholders through relevant governance aspects of Model Risk Management
◦ Escalate issues as appropriate
4. Contribute to the overall model risk framework
◦ Contribute to standards, procedures and policies as appropriate
◦ Work with Bank of the West and BNP Paribas Group stakeholders as appropriate
◦ Provide assessments of overall model risk for areas of responsibility as well as the wider firm
5. Assess ongoing model performance
◦ In addition to model validations review performance monitoring results and perform annual reviews
6. Participate in the development of more junior staff
◦ Through direct training or supervision of work participate in the technical and business knowledge training for less experienced staff
◦ Potentially manage a small team of validators (optional – depending on experience)
Minimum Required Qualifications:
• We are looking for a candidate with:
• Quantitative PhD, Masters or other advanced degree.
• 5 + years modelling or performing model validation in a CIB or comparable environment
• Experience producing high quality written technical documentation
• Experience in modelling or detailed business/transaction knowledge of either:
◦ Wholesale Liquidity Risk models including liquidity stress testing
◦ BSA/AML and/or OFAC Sanctions transaction monitoring models
Preferred Qualifications:
In addition to the minimum requirements it is desirable for the candidate to be able to demonstrate:
• Experience in CCAR modelling or model validation for Investment Banking business lines
FINRA Registrations Required:
• Not Applicable
BNP Paribas is committed to providing a work environment that fosters diversity, inclusion, and equal employment opportunity without regard to race, color, gender, age, creed, sex, religion, national origin, disability (physical or mental), marital status, citizenship, ancestry, sexual orientation, gender identity and gender expression, or any other legally protected status.
BNPPRSR