Job details
Description
Essential Function / major duties and responsibilities of the job |
Strategic • The Model Validator is responsible for validating CLS models, maintaining model validation standards and procedure documents, engaging with CLS MRM stakeholders on model risk matters, and MRM reporting. |
Operational • Conduct model validation activities based on internal MRM policy and procedures. • Conduct and perform quality assurance for model risk reporting. • Communicate effectively with CLS businesses on model risk matters. • Collaborate with the Model Governance to ensure model governance and standards are appropriate for the firm’s risk profile and ensure enterprise-wide adherence. |
Leadership • Execute model validation. • Enhance capabilities to operate MRM developed challenger/benchmark models. |
Experience / essential and desired for successful job performance |
• 0-3 years’ experience in the model risk management at a regulated financial institution. • Understanding of settlement and clearing, and the differences is a plus. • Knowledge of US Banking Regulations (Federal Reserve Board) is a plus. • Experience in working with statistical models. |
Qualifications / Certifications |
• Bachelor’s degree is required; MS/MA or MBA is desired. • Experience with numerical and statistical tools: e.g. SAS, MATLAB, S-Plus, R, Python, C++. |
Knowledge, skills and abilities / competencies required for successful job performance |
· Attention to detail to ensure consistent, correct, and accurate execution of model validation and reporting. · Knowledge of regulatory guidance on model risk management and industry best practice. · Knowledge of capital market products, esp. FX. · Strong verbal and written communication skills. |
Success factors / ‘How’. Personal characteristics contributing to an individual’s ability to excel in the position |
· Excellent interpersonal communication skills, both written and verbal. · High ethical standards and a profound sense of integrity and confidentiality. · Challenging assumptions and maintaining independence and objectivity. · Build consensus, to influence both internal and external stakeholders. · Results oriented team player. · Ability to effectively take and drive initiative. · Self-starter, energetic; strive for excellence. |