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Model Risk Governance Framework Lead
Company | U.S. Bank National Association |
Address | , Remote |
Employment type | FULL_TIME |
Salary | $140,930 - $182,380 a year |
Expires | 2023-06-28 |
Posted at | 1 year ago |
At U.S. Bank, we’re on a journey to do our best. Helping the customers and businesses we serve to make better and smarter financial decisions and enabling the communities we support to grow and succeed. We believe it takes all of us to bring our shared ambition to life, and each person is unique in their potential. A career with U.S. Bank gives you a wide, ever-growing range of opportunities to discover what makes you thrive at every stage of your career. Try new things, learn new skills and discover what you excel at—all from Day One.
The Model Risk Governance Framework Lead role is responsible for ownership of the model risk management program framework within the Bank. The role reports to the Director of Model Risk Governance within Model Risk Management. The role is designed to promote effect model governance, development, validation, and risk management with the goal to assess and manage model risks that may impact the organization.
The Model Risk Governance Framework Lead will be responsible for:
- Ensuring overall compliance of the MRM program with regulatory guidance on model risk management, staying current with changes in regulatory expectations and leading industry practices.
- Enhancing, implementing, and maintaining the model risk management program within the Bank. This includes design, update and execution of policies, ownership and validation standards, development and validation templates, and internal procedures for all phases of model life cycle from identification and inventorying to implementation, maintenance, and retirement.
- Coordinate with Model Risk Governance leads to ensure consistency of communication of program requirements and reporting on model risk throughout the team and to all stakeholders.
- Contribute to and support reporting related to model risk and the MRM program for presentation to senior management and during risk management committees.
- Support maintenance of and reporting on the MRM control inventory, execution, and evidence.
- Providing training and communication of the expectations of the MRM program to stakeholders across the organization. This is inclusive of training and communication of program updates as well as periodic touchpoints with stakeholders.
As this role will involve interaction with regulatory agencies, auditors, and all levels of management within the organization, the candidate must have:
- Hands-on experience in model building and/or validation;
- Strong written and verbal communication skills.
- Strong understanding of the regulatory guidance on model risk management and risk management procedures;
- Experience managing quantitative teams;
- Strong leadership qualities,
- In-depth knowledge of and experience with model development and validation practices;
- Ability to influence outside of the formal chain of command; and
Strong project management skills are essential to coordinate the large number of processes and initiatives and to ensure clear communications with all stakeholders. In addition to strong experience and quantitative skills, a “can-do” personal style/attitude and the ability to drive decision making through a consensus building approach are also critical to success in this role.
Basic Qualifications
- Familiar with leading model risk management practices and regulatory guidance
- Master’s/Advanced Degree in a quantitative field
- Strong written and verbal communication skills, including effective presentation skills to multiple levels of management and associates
- 8 or more years of relevant experience, including in model development, validation, and/or governance, preferably in the banking or finance industry
Preferred Qualifications:
- Direct and indirect management and leadership experience
- Experience in dealing with regulators and a changing regulatory landscape
- Adept at working in a multifaceted organization
- Effective working both independently and as a team leader and providing leadership and collaborating with a wide variety of teams
If there’s anything we can do to accommodate a disability during any portion of the application or hiring process, please refer to our disability accommodations for applicants.
Benefits:
Our approach to benefits and total rewards considers our team members’ whole selves and what may be needed to thrive in and outside work. That's why our benefits are designed to help you and your family boost your health, protect your financial security and give you peace of mind. Our benefits include the following (some may vary based on role, location or hours):
- Paid vacation (from two to five weeks depending on salary grade and tenure)
- Pregnancy disability and parental leave
- Healthcare (medical, dental, vision)
- Up to 11 paid holiday opportunities
- Adoption assistance
- Sick and Safe Leave accruals of one hour for every 30 worked, up to 80 hours per calendar year unless otherwise provided by law
- Basic term and optional term life insurance
- 401(k) and employer-funded retirement plan
- Short-term and long-term disability
EEO is the Law
U.S. Bank is an equal opportunity employer committed to creating a diverse workforce. We consider all qualified applicants without regard to race, religion, color, sex, national origin, age, sexual orientation, gender identity, disability or veteran status, among other factors.
E-Verify
U.S. Bank participates in the U.S. Department of Homeland Security E-Verify program in all facilities located in the United States and certain U.S. territories. The E-Verify program is an Internet-based employment eligibility verification system operated by the U.S. Citizenship and Immigration Services.
The salary range reflects figures based on the primary location, which is listed first. The actual range for the role may differ based on the location of the role. In addition to salary, US Bank offers a comprehensive benefits package, including incentive and recognition programs, equity stock purchase 401k contribution and pension (all benefits are subject to eligibility requirements). Pay Range: $140,930.00 - $165,800.00 - $182,380.00U.S. Bank will consider qualified applicants with criminal histories in a manner consistent with the San Francisco Fair Chance Ordinance.-
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