Director Of Model Risk Management

Position Title: Director of Model Risk Management

Reports To: Director of Enterprise Risk Management

Direct Reports: Model Validation Analyst, Senior Model Validation Analyst

Salary Grade: 13

SUMMARY

The role will reside within the Model Risk Management (MRM) function to support the implementation and execution of Bank wide model risk management policies and procedures, including model governance and performance monitoring, in conformance with regulatory guidance. Model Risk Manager responsibilities include the review of complex models used within the organization, model documentation protocols, development and maintenance of model risk reporting and maintenance of the model inventory.

The Model Risk Manager will report directly to the Chief Risk Officer and will collaborate with Enterprise Risk Management (ERM) to follow up and track ongoing model risk issues. In addition, the Model Risk Manager will develop and maintain effective partnerships with the model managers, business level risk management teams and auditors, internal and external.

EDUCATION AND EXPERIENCE REQUIREMENTS

• MS in Statistics, Economics, Finance or any other quantitative discipline

• Minimum 3 years of experience in a Banking, Risk Management or Quantitative Role is a plus

• Knowledge of DFAST stress testing regulations and requirements

• Knowledge of basic risk management concepts and principles

• Comprehensive experience and expertise in the interpretation and implementation of SR 11-7, Supervisory Guidance on Model Risk Management

• Experience with programming and/or large database and related languages (like R, Python and SQL)

• Strong verbal and written communication skills

• Team player

• Provides extraordinary service

• Furthers the United Community Bank's culture and values

• Participate and complete all required compliance training, including Bank Secrecy Act/anti-money laundering training, as well as internal and external training programs, online training, meetings, and seminars/conferences, etc.

JOB FUNCTIONS

• Manage model risk across the model lifecycle including model validation, performance evaluation and annual model reviews

• Assist in the development and maintenance of the model inventory ensuring the inventory is complete, accurate, and consistent with the intent of the Model Risk Management Policy

• Provide recommendations for the design, development, back testing, implementation and recalibration of models owned by the model development team

• Perform independent review and validation of models used throughout the organization for capital stress testing , interest rate risk measurement, compliance and management decision making

• Facilitate sourcing of effective challenge and independent validation

• Advise/confirm scope of more in depth internal or external validation where applicable

• Coordinate the engagement of third parties to perform independent validation

• Review the results of third party validation

• Provide effective challenge to model assumptions, mathematical formulation, and implementation

• Prepare written summary and analysis of all validation work

• Present model validation findings to senior management and supervisory authorities

• Represent the bank in interactions with regulatory agencies, as required

• Support the execution of various reporting projects in compliance to policy, governance, and regulatory requirements

• Coordinate execution of MRM projects/initiatives to drive effectiveness and efficiency of the Model Risk Management framework

SUPERVISORY RESPONSIBILITY

This position manages employees and is responsible for the coaching, development, and performance management of those employees.

WORK ENVIRONMENT

United location within the footprint

POSITION TYPE

This is a full-time position that requires schedule flexibility to work evenings and weekends as needed.

TRAVEL

This position requires up to 25% travel.

OTHER

We are an Equal Opportunity Employer and do not discriminate against any employee or applicant for employment because of race, color, sex, age, national origin, religion, sexual orientation, gender identity and/or expression, status as a veteran, and basis of disability or any other federal, state or local protected class.

Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

The job description is not designed to cover or contain a comprehensive listing of activities, duties or responsibilities that are required of the employee. Other duties, responsibilities and activities may change or be assigned at any time with or without notice.