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Model Risk Framework Manager, Assistant Vice President
Mitsubishi UFJ Financial Group
San Francisco, CA, United States
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Description
Discover your opportunity with Mitsubishi UFJ Financial Group (MUFG), the 5th largest financial group in the world with total assets of over $2.4 trillion (as ranked by SNL Financial, April 2016) and 140,000 colleagues in nearly 50 countries. In the U.S., we’re 13,000 strong, working together to positively impact every customer, organization, and community we serve. We achieve this by delivering on our values, putting people first, fostering long-term relationships built on honesty and mutual understanding, and inspiring the best in each other. This is all part of our inclusive, high-performing culture supported by Total Rewards that include our cash balance pension plan. Join a team that’s working to fulfill its vision to be the world’s most trusted financial group.
Job Summary:
The Bank's America’s Model Risk Management (AMRM) unit is responsible for the management of enterprise-wide model risks associated with the Bank's development, deployment, maintenance and use of quantitative models. Model risk occurs in two fundamental ways: the error in estimation of a measure such as price, valuation or risk, and in the potential misapplication or use of a model or its output. In order to manage model risk in these aspects, the Bank has developed and implemented a comprehensive framework across its three lines of defense. The first line of defense being the business units that build, maintain and use models, the second line is the AMRM – responsible to establish and maintain the framework – includes the independent validation of all models and managing model risk in aggregate at the enterprise level, and lastly the third line is the independent audit function which reviews the effectiveness of the framework
This position will report to the AMRM Framework and Governance group. The successful incumbent is expected to assist in supporting and maintaining the Bank’s Model Risk Management program which includes the Model Risk Management (MRM) Policy, MRM Procedures, MRM System AMRM maintains to support the First Line of Defense (e.g. Model Owners, Model Users and Business Unit Risk Managers), and communicating associated requirements. Additionally, this position provides business, subject matter expertise and overall support to AMRM in execution of its Model Risk Management program.
Major Responsibilities:
• Lead effort to expand the model risk management program’s scope to include additional entities across the Americas.
• Drive continuous improvement by providing model risk management subject matter expertise to implement program enhancements .
• Facilitate establishment of an offshore team to conduct second line model risk management validation and ongoing governance activities.
• Assist in liaising Model Risk Management Policy, Procedures and Guidelines requirements with First and Second Line of Defense stakeholders.
• Support management self-identified, audit and regulatory issue remediation.
• Support model validation efforts in non-quantitative areas (based on availability).
Qualifications
Additional Information:
• Requires a bachelor degree in information technology, finance, business management or related area; advanced degree preferred
• Proficient knowledge of SQL Server querys and Microsoft Office Applications: Word, Outlook, PowerPoint, Excel, SharePoint and Visio
• Strong project management capabilities
• Excellent communications skills, both oral and written are essential
• Team player who can excel in a challenging work environment with a strong desire to learn new things and the ability to adapt to a changing environment
• Prior model risk management framework and governance hands on work experience - preferred
• Prior work experience with a global organization is preferred
• Knowledgeable about model risk management and associated regulatory requirements such as OCC 2011-12 - preferred
• Experience maintaining policies and procedures - preferred
• Industry certifications a plus (e.g., CFA, FRM) - preferred
The above statements are intended to describe the general nature and level of work being performed. They are not intended to be construed as an exhaustive list of all responsibilities duties and skills required of personnel so classified.
We are proud to be an Equal Opportunity / Affirmative Action Employer and committed to leveraging the diverse backgrounds, perspectives, and experience of our workforce to create opportunities for our colleagues and our business. We do not discriminate in employment decisions on the basis of any protected category.
A conviction is not an absolute bar to employment. Factors such as the age of the offense, evidence of rehabilitation, seriousness of violation, and job relatedness are considered in all employment decisions. Additionally, it's the bank's policy to only inquire into a candidate's criminal history after an offer has been made. Federal law prohibits banks from employing individuals who have been convicted of, or received a pretrial diversion for, certain offenses.