The Model/Anlys/Valid Group Mgr is accountable for management of complex/critical/large professional disciplinary areas. Leads and directs a team of professionals. Requires a comprehensive understanding of multiple areas within a function and how they interact in order to achieve the objectives of the function. Applies in-depth understanding of the business impact of technical contributions. Strong commercial awareness is a necessity. Generally accountable for delivery of a full range of services to one or more businesses/ geographic regions. Excellent communication skills required in order to negotiate internally, often at a senior level. Some external communication may be necessary. Accountable for the end results of an area. Exercises control over resources, policy formulation and planning. Primarily affects a sub-function. Involved in short- to medium-term planning of actions and resources for own area.
- Full management responsibility of a team or multiple teams, including management of people, budget and planning, to include performance evaluation, compensation, hiring, disciplinary actions and terminations and budget approval.
- Responsibilities: Qualifications: Education:
Framework Implementation & Oversight:
- Implement, and manage the business line's adherence to the Citi MRM Policy, Standard, and Execution Manual.
- Serve as the primary liaison between the business and the central MRM organization, Internal Audit, and regulators on all model risk matters.
- Chair or be a key representative for the business in Segment Model Risk Councils, discussing and resolving issues relevant to the business's model portfolio.
Model Lifecycle Governance:
- Model Identification: Drive a robust process within the business to identify all quantitative methods, systems, and approaches that may be considered models and ensure they are submitted to MRM for a final determination.
- Development & Documentation:
- Oversee Model Sponsors to ensure every model has a complete, high-quality Model Development Document (MDD) that substantiates the model's conceptual soundness, data usage, and performance.
- Ensure all vendor models are subject to the same rigorous standards as internally developed models.
- Validation & Remediation:
- Act as the central coordinator for all model validation activities, ensuring Model Sponsors provide all necessary information for initial validations, annual reviews, and ongoing validations.
- Oversee the timely and effective remediation of all model limitations and validation findings. Develop and manage action plans to address issues within the specified due dates.
- Implementation & Use:
- Confirm that all models are implemented in controlled production environments (e.g., CSI, RPA, EUC) and that proper implementation testing has been completed.
- Enforce controls to ensure models are used exclusively for their approved purposes and that any model overlays are justified, documented, and approved.
- Ongoing Monitoring:
- Ensure Model Sponsors conduct ongoing performance monitoring (OPA) for all models at the minimum required frequency (Quarterly for High risk, Semi-Annually for Medium, Annually for Low).
- Review monitoring results to evaluate performance and identify any potential degradation that may require action.
- Model Change & Retirement:
- Manage the process for any changes to model methodology, implementation, or use, ensuring they are documented, reviewed, and approved by MRM prior to implementation.
- Oversee the formal retirement process for models that are no longer in use.
Inventory, Attestation, and Reporting:
- Maintain a complete and accurate inventory of all business line models and their uses within the CitiRisk Model Risk Management System (MRMS).
- Lead the semi-annual model inventory attestation process for the business, confirming the completeness and accuracy of the inventory.
- Manage the process for requesting Policy Dispensations for temporary non-compliance and ensure any Policy Breaches are reported, escalated, and remediated.
Team Leadership:
- Build, lead, and mentor a team of MRM governance professionals to support the business line's model risk activities.
- Promote a culture of risk awareness and accountability across all teams interacting with models.
Qualifications
- 10+ years of experience in risk management, quantitative analysis, or a related field within a large, complex financial services firm.
- Expert knowledge of model risk management principles and regulatory requirements
- Proven experience leading governance functions and interacting with senior management, auditors, and regulators.
- Deep understanding of the model lifecycle, including development, validation, implementation, and monitoring.
- Strong leadership and people management skills with the ability to lead and influence a cross-functional team.
- Excellent communication and negotiation skills, with the ability to articulate complex concepts to diverse audiences.
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Job Family Group:
Risk Management
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Job Family:
Model Development and Analytics
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Time Type:
Full time
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Most Relevant Skills
Analytical Thinking, Credible Challenge, Data Analysis, Governance, Policy, Procedure, and Regulation, Risk Management Lifecycle.
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Other Relevant Skills
Business Acumen, Constructive Debate, Escalation Management, Policy and Procedure, Policy and Regulation, Risk Controls and Monitors, Risk Identification and Assessment, Statistics.
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