Model Risk Management (Mrm) Manager

MidFirst Bank occupies a rare position within the banking industry. With more than $35 billion in assets, MidFirst Bank is the largest privately owned bank in the country. MidFirst Bank serves approximately 900,000 accounts for customers nationwide and offers a full range of personal, commercial, trust, private banking and mortgage banking products and services. MidFirst utilizes quantitative models and tools to support business process and ensure informed decision making in areas such as pricing, valuation, loan loss reserves modeling, interest rate risk management, and stress testing.

The MRM Manager, along with a small team of analysts, will be responsible for executing the MRM Program, including interaction with model owners from various departments within the Bank to first identify, inventory and risk classify models, and then to provide independent oversight of those models through periodic monitoring and review or validation. The MRM Manager, along with the MRM team, will also be responsible for providing routine reports of MRM activities, including but not limited to performance monitoring and model validation results.

How you’ll make an impact:

• Ensure independent review and challenge of models through annual reviews, routine performance monitoring and validation.
• Develop and foster a positive relationship with various teams who develop and/or use internal and third-party models to facilitate adoption and adherence with the MRM Policies and Procedures.
• Maintain relevant expertise on best practices related to model risk.
• Provide ad-hoc training on model risk processes and program requirements to stakeholders.
• Be a spokesperson for the MRM Program via routine communication to key stakeholders, senior management and various committees.
• Maintain a comprehensive model inventory and gain familiarity with models whereby model use and characteristics are understood and documented.

A successful candidate will have the ability to work well under pressure with a strong sense of personal accountability and ownership. To execute and oversee a successful model validation program, the candidate will need to be able to develop or oversee development of test programs and supporting work papers. This candidate will also be required to interact with and/or manage subject matter experts with highly technical areas of expertise (i.e. Statistics, Mathematics, etc.).

QUALIFICATIONS:

Minimum Requirements

• Ability to interface effectively and professionally with senior level management.
• 5 to 8 years work experience in a role that exhibits solid comprehension of financial theory for credit, market and/or asset liability management necessary to complete most model validations.
• Undergraduate or Graduate degree in Finance, Accounting, and/or Economics.
• Proficient in the communication of technical information both verbally and in writing to both technical and non-technical audiences.
• Ability to use Microsoft Office suite. (Outlook, Excel, and Word).
• Previous experience in staff oversight.
• Ability to multitask and manage concurrent delivery of multiple projects.

Preferred Requirements

• Familiarity with data verification and/or auditing.
• Familiarity with regulatory guidance on Safety and Soundness, especially OCC Bulletin 2011-12 (SR 11-7).
• Familiarity with SAS, R, MATLAB or similar statistical analysis and modeling tools.
• Prior work experience in building or testing financial or statistical models.

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Education

• Bachelors or better in Accounting or related field
• Bachelors or better in Finance or related field

Behaviors

• Team Player: Works well as a member of a group
• Detail Oriented: Capable of carrying out a given task with all details necessary to get the task done well

Equal Opportunity Employer/Protected Veterans/Individuals with Disabilities

The contractor will not discharge or in any other manner discriminate against employees or applicants because they have inquired about, discussed, or disclosed their own pay or the pay of another employee or applicant. However, employees who have access to the compensation information of other employees or applicants as a part of their essential job functions cannot disclose the pay of other employees or applicants to individuals who do not otherwise have access to compensation information, unless the disclosure is (a) in response to a formal complaint or charge, (b) in furtherance of an investigation, proceeding, hearing, or action, including an investigation conducted by the employer, or (c) consistent with the contractor’s legal duty to furnish information. 41 CFR 60-1.35(c)