Job Description:
This job is responsible for leading a team to develop or validate quantitative analytics and models for specific business units or risk types. Job expectations include supporting business units and acting as a subject matter expert on specified quantitative modeling techniques, as well as serving as the first or second line of defense overseeing model performance, model risk, and model governance on critical model portfolios.
Responsibilities:
- Leads a quantitative team with model coverage of specified focus areas and oversees stakeholder engagement, including team effort in preparation for audit and regulatory exams
- Sets priorities related to quantitative modeling in line with the bank’s overall strategy and prioritization
- Identifies continuous improvements through reviews of approval decisions on relevant model development or model validation tasks, critical feedback on technical documentation, and effective challenges on model development/validation
- Maintains and provides oversight of model development and model risk management in respective focus areas to support business requirements and the enterprise’s risk appetite
The position will be responsible for:
- Performing independent model validation, annual model review, ongoing monitoring report review, required action item review, and peer review.
- Conducting governance activities such as model identification, model approval and breach remediation reviews.
- Providing hands-on leadership for projects pertaining to statistical modeling and machine learning approaches to effectively challenge and influence the strategic direction and tactical approaches of these projects.
- Communicating and working directly with relevant modeling teams and their corresponding Front Line Units; communicating and interacting with the third line of defense (e.g., internal audit) as well as external regulators, as needed.
Minimum Education Requirement: Master’s degree in related field or equivalent work experience
Required Qualifications & Skills:
- PhD or Masters in a quantitative field such as Mathematics, Physics, Finance, Engineering, Computer Science, Statistics.
- Advanced knowledge and 7+ years of experience in building and understanding of Anti-Money Laundering models and systems
- Strong familiarity with the industry practices in the field and knowledge of up-to-date Anti Money Laundering techniques
Skills:
- Business Acumen
- Critical Thinking
- Regulatory Relations
- Talent Development
- Technical Documentation
- Policies, Procedures, and Guidelines Management
- Project Management
- Risk Analytics
- Risk Management
- Stakeholder Management