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Model Risk Manager

75% Flex
Full Remote
Senior (5-10 years)
  • Remote from:California (USA), Idaho (USA), Oregon (USA), Utah (USA), Washington (U...
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Model Risk Manager

75% Flex
Remote: Full Remote
Experience: Senior (5-10 years)
Work from: California (USA), Idaho (USA), Oregon (USA), Utah (USA), Washington (USA)...

Offer summary

Qualifications:

Master's Degree in Economics, Math, Physics, or Statistics, 6+ years in model risk or financial management, 2+ years in a supervisory role.

Key responsabilities:

  • Lead and maintain Model Risk Management Program
  • Oversee model inventory, validation, monitoring, and reporting to Executive Management and Board of Directors
Banner Bank logo
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Banner Bank

BankingLarge

https://www.bannerbank.com/

1001 - 5000 Employees

aboutBanner Bank

Job description

Logo Jobgether

Your missions

More than 130 years ago, we started with core values that never go out of style: listen, learn and help businesses and individuals reach their goals. Our financial strength and stability are key reasons Forbes names us one of the Best 100 Banks in America the past five years.

With more than $16 billion in assets and over 150 locations throughout Washington, Oregon, Idaho, and California, we understand our role in the economy and take that responsibility seriously. In addition to offering a source of capital to personal banking clients and businesses of all sizes, we place a high importance on employee volunteerism and donate millions of dollars each year to community organizations.

Maintain a Model Risk Management Program that includes model identification, inventory, risk rating, monitoring, and validation management and is designed to ensure fulfillment of Banner's commitment to prudent model risk management and compliance with safety and soundness and other regulations. Consult regularly with business units regarding all aspects of the Model Risk Management Program, including review of major policies, guidelines, and procedures. Make recommendations and prepare reports used by Executive Management and the Board of Directors in fulfilling their risk management responsibilities. Report to the Board of Directors, or a designated Committee, and Executive Management regarding the Model Risk Management Program, as necessary.

In this role you'll have the opportunity to:
  • Lead the maturation and maintenance of the Model Risk Management Program including development and review of relevant policies, procedures, and templates to support a robust risk management framework.
  • Oversee the management of the model inventory and updates to model risk ratings and the related validation schedule.
  • Oversee the management of the ongoing monitoring framework, periodic model reviews, and independent model validation and testing using internal and external resources as appropriate. Validations to include an evaluation of conceptual soundness, data, processing components, model outputs and reporting, governance, and documentation.
  • Ensure the accuracy, content, and timely issuance of validation reports which should clearing detail the methodology and results of the validation analysis.
  • Prepare reports relative to the Model Risk Management Program and present to Executive Management and the Board of Directors. Respond to requests from the Board, Internal Audit, and regulatory agencies.
  • Provide assistance and guidance to management and staff on Model Risk Management. Participate in committees as requested by the Director of Enterprise Risk Management or the Chief Risk Officer and provide effective challenge.
  • Develop and mentor the Model Risk Management team.
  • Maintain expert knowledge of current industry best practices, particularly with respect to Model Risk Management. Participate in continuing education to maintain and/or enhance job performance. Comply with policies, procedures, security requirements, and government regulations.

    • Education & Certifications
  • Master's Degree: Economics, Math, Physics, Statistics or other quantitative science discipline required

    • Experience
  • 6 or more years of experience in an area such as model risk management, finance, or risk management required
  • 2 or more years of experience in a supervisory/management role leading a project, process or team required
  • strong understanding of developing and validating models, preferably including several of the following: CCAR, DFAST, credit loss, balance projections, pre-provision net revenue, asset-liability management, interest rate risk, anti-money laundering, fraud, capital planning, budgeting and forecasting, etc.

    • Knowledge, Skills, & Abilities
  • Possess strong research, organizational, time management, and analytical skills with an advanced understanding of model risk governance. Demonstrated ability to take the initiative and produce accurate work.
  • Possess advanced experience in MS Office programs including Word, Excel, and PowerPoint. Experience programming with statistical software (preferably R, but Python, SAS, Stata, etc. are also acceptable) is also desired.
  • Possess excellent written and verbal communication and presentation skills with the ability to deliver professional and responsive internal customer service.
  • Possess a working knowledge of lending, bank financials and banking operations, as well as deposit and non-deposit products and services.
  • Knowledge of federal and state laws, and regulations relating to model risk management programs. Ability to acquire and demonstrate intermediate to advanced knowledge of policies, procedures and regulatory requirements pertaining to risk management. 

    • Travel
  • up to 20%

    • Compensation & Benefits
  • Targeted starting compensation range is based on location and experience: $152,000 - $210,000
  • Incentive and commission compensation may be awarded for eligible roles
  • Comprehensive employee benefits, including: medical, dental, vision, LTD, STD and life
  • Paid vacation time, sick time, personal days, paid volunteer time and 11 company paid holidays
  • 401k (up to 4% match with immediate vesting)
  • Tuition reimbursement up to $5,250 annually (minimum service requirement)
  • Read more about these and additional benefits at: Employee Benefits | Banner Bank
    • Please take time to review Banner Bank's Consent & Privacy notice before applying.

    Banner Bank is an Equal Opportunity Employer committed to diversity in the workplace. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, citizenship, marital status, age, disability or protected veteran status.

    Banner Bank does not accept unsolicited resumes from agencies and/or search firms for any job postings on this site. Resumes submitted to any Banner Bank employee by a third party agency and/or search firm without a valid written and signed search agreement, will become the sole property of Banner Bank. No fee will be paid if a candidate is hired for a position as a result of an unsolicited agency or search firm referral.
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    Required profile

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    Experience

    Level of experience :
    Senior (5-10 years)
    Industry :
    Spoken language(s)
    Check out the description to know which languages are mandatory.
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    Hard Skills

    Soft Skills

    • Strong research, time management, communication skills
    • Advanced analytical abilities and initiative

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