Head of Model Risk Governance Head of Model Risk Governance …

Barclay Simpson
in New York, NY
Permanent, Full time
Last application, 24 Nov 20
$250 - 300k
Barclay Simpson
in New York, NY
Permanent, Full time
Last application, 24 Nov 20
$250 - 300k
Posted by:
Scot Nye • Recruiter
Barclay Simpson
Posted by:
Scot Nye
Recruiter
Opportunity to lead Model Risk Governance team for major insurance and asset management group

Our client is one of the largest insurance and asset management groups in the US,  providing life insurance, wealth management, estate and retirement planning, and investment services to customers globally.

 

Model Risk Management is a vital part of the firms Enterprise Risk function.  The Model Risk Management function is growing and evolving and an opportunity to lead Model Risk Governance has arisen.

 

The Model Risk Governance Lead will report to the Head of Model Risk Management and be responsible for implementing firm-wide model risk governance standards and procedures.  Collaborating with the business units, the actuarial function and other Risk Management colleagues, he/she will be responsible for maintaining and updating comprehensive model inventories, risk policies and model control standards appropriate for the risk profile of the company and consistent across all businesses.  Working with the Head of Model Risk Management, this individual will also be responsible for developing and maintaining model risk reporting for Senior Management and the Board.

 

Description of Responsibilities

Implement model risk standards and procedures consistent across all business lines

Collaborate with business units, actuarial and risk management functions to develop appropriate model control standards for all businesses consistent with firm-wide policies

Design appropriate reporting and develop metrics for model risk and model risk governance to be shared with Senior Management and the Board

Collaborate with business units to execute various model risk management initiatives

Work with the Model Validation unit to update and maintain a firm-wide comprehensive model inventory to be housed in the NYL model risk system

Collaborate with members of the Model Risk team to develop a consistent approach for assessing model risk and for aggregating model risk across the company

Advise business areas to help ensure adherence to model risk governance frameworks and policies

Develop appropriate tools to monitor effectiveness of model risk governance practices

Respond to regulatory guidance and requests as needed

 

Requirements

BA or advanced degree in Econometrics, Statistics or other quantitative discipline

Minimum 10 years of experience in Model Governance, Model Risk Management or Quantitative Risk

Experience in risk, finance and regulatory aspects

Experience in drafting documentation and reports for executives and regulators

Exceptional interpersonal skills and ability to collaborate successfully

Proven success as a trusted partner who implements change and positively influences change adoption by end users

Proven track record and demeanor to handle highly confidential and sensitive matters in a changing environment

Experience with both insurance and banking institutions a plus

 

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