VP - Model Validation
One of the largest international banks
About Our Client
Our client is one of the largest international banks in the world.
MPI does not discriminate on the basis of race, color, religion, sex, sexual orientation, gender identity or expression, national origin, age, disability, veteran status, marital status, or based on an individual's status in any group or class protected by applicable federal, state or local law. MPI encourages applications from minorities, women, the disabled, protected veterans and all other qualified applicants.
- Responsible to maintain the Model Risk Management program, including supporting of Model Risk Management Policy, Model Risk Management Procedures, Model Inventory and repository of model related documentations
- Ensure compliance of model development standards and procedures with regulatory requirements of all Branch models
- Collaboration with related business departments/teams, support with model risk management practice, such as model identification, validation, and reporting
- Manages the planning and independent model validation review calendar to ensure: conceptual model soundness, appropriate model assumptions, model data integrity, models are appropriately tested, and existence of effective model governance and control process
- Performs independent validations of various models in the enterprise-wide inventory. Manage the resolution of findings with model owners and users, recommend management action plans, and track remediation progress. Validation scope includes assessment of model conceptual soundness, evaluation of data and assumptions, testing model computational accuracy, and performing outcomes analysis (such as back-testing and benchmarking).
- Support for project management from the standpoint of model risk management, as necessary
- Communicate with regulators, Executive Management, Deputy Head of Risk Management, the Risk Management committees, auditors and Head Office with regard to model management
- Knowledge of analytical and statistical skills to verify model performance, i.e. correct implementation, limiting behavior, and response to stress/extreme input condition-stress testing
The Successful Applicant
- Knowledge of the financial markets, banking operations and model analysis;
- Mathematical and statistical analysis with an understanding of modelling and attention to express complex methodologies
- Independent worker, accountable and skilled in exercising sound judgment and decisiveness under pressure
- Knowledgeable of model risk management and associated regulatory requirements (OCC 2011-12/SR11-7) are required.
- Strong interpersonal, team-working and organizational communication skills
- Computer proficiency in Microsoft Office (including Access) and risk management tools
- Good command of spoken and written English and Mandarin (preferred)
- BS in Quantitative discipline required or advanced technical degree in finance, financial engineering, economics, mathematics, statistics, engineering, or related fields. Industry certifications a plus (e.g., CFA, FRM)
- 7+ years of experience working in credit risk model validation at a CCAR bank
- Prior experience at a foreign bank preferred
What's on Offer
- Competitive compensation
- Free Insurance
- Strong exposure to senior management