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VP, Model Risk Management

3 months ago


Morrisville, United States Cenlar Full time
Start something good. Empower your career. Become an employee owner at Cenlar.

Employee owners have made Cenlar the nation's leading mortgage loan subservicer. Our unique culture is defined by our core values of respect, trust, integrity and care. Company ownership, a promote-from-within philosophy, and opportunities for continuous professional growth make Cenlar a great place to launch or boost your career. Consider this opportunity to join our team as VP, Model Risk Management.

The VP, Model Risk Management reports to the Chief Risk Officer. This role leads a team to define, develop, and implement the model risk management policy and program; drives and manages the second line of defense oversight and governance processes to ensure the end-to-end model development, validation, and related change processes enable our models to provide leadership and best-in-class forecasting suite, which includes the requirements to support the corporate various stress testing, credit loss allowance and capital planning exercises.

Responsibilities:

Modeling & Analytics
  • Leads the team and organization in development of models, methodologies, and analytical framework for financial forecasting, and for quantifying and managing risk for strategies
  • Influences Cenlar Leadership and OCC in driving the model risk management program
  • Manages the modeling and analytics, including various quantitative measures
  • Translates model results into actionable strategies for risk and profitability management
  • Establishes robust analytical and reporting process, minimizing operational errors
  • Develops, presents, implements, and documents methodologies, algorithms, tools, models, and reports
  • Ensures staff members are well-trained for all critical modeling tasks
  • Work with all functions within Cenlar to support the launch of strategies including strong strategy testing and controls
Model Risk Management
  • Leads a team of Model Risk Analysts who implement model risk management standards and practices consistent with Cenlar's risk appetite, strategic objectives, and regulatory guidance (e.g., OCC Guidance on Model Risk Management)
  • Ensures model design, documentation, implementation, operation, and validation conform to the Model Risk Management Policy, and that the Policy reflects the regulatory guidance and expectations
  • Conducts independent model validations, and/or directs and oversees third party service provider conducting validation of various models, against established standards
  • Ensures the team implements and executes a credible challenge process to ensure models and their assumptions are adequately documented with all appropriate assumptions
  • Implements process and controls for identification and maintenance of model inventory, which includes its completeness and accuracy
  • Oversees the resolution of systemic and/or material findings via Cenlar's established Issues Management process with model owners / users and developers
  • Works with model owners and developers to understand the business context for model use, adding value to the business process
  • Implements and oversees governance processes for the capital measures by partnering with key stakeholders
  • Communicates and owns meaningful reporting to applicable Management, Leadership and Board for activities regarding Model Risk Management. Ensures best practices for control requirements over models
  • Ensures compliance with Cenlar's data management policies and standards
  • Ensures model documentation exists for the identified model inventory in order to enable proper assessment and validation of model development practices
  • Ensure a change management process exists for all models
General Responsibilities
  • Works with managers to develop and monitor individual and departmental goals and provides effective feedback and guidance on a regular basis; Holds managers accountable for meeting these goals
  • Leads effective performance management and professional talent development across all respective departments
  • Appropriately assess risk when business decisions are made, include but not limited to compliance and operational risk. Demonstrate consideration for Cenlar's reputation as well as our clients, by driving compliance with applicable laws, rules and regulations, adhering to Policy, applying sound ethical judgment regarding personal behavior, conduct and business practices, and escalating, managing and reporting control issues, as well as effectively supervise the activity of others and create accountability with those who fail to maintain these standards
  • Ensure all activities are in accordance with Cenlar's approved risk appetite statement and applicable compliance and regulatory requirements
Qualifications:
  • Bachelor's degree or equivalent experience
  • Master's or advanced degree in a quantitative discipline (e.g. Mathematics, Statistics, Economics, Computer Science) preferred
  • 12 years of experience in mortgage operations including previous experience managing multiple departments
  • Track record of managing constructive and transparent relationships with regulators
  • Strong understanding of modeling concepts, practices, and requirements of the mortgage banking and mortgage servicing industries
  • Ability to effectively and constructively lead change in an organization
  • Ability to work with large data and perform extensive analysis to draw useful insights
  • Outstanding technical and analytical skills, and extensive experience with statistical analysis and modeling
  • Strong business acumen, organizational and multi-tasking skills with demonstrated ability to manage expectations and deliver quality results on time
  • Dedicated to integrity, producing high quality results, and meeting deadlines
  • Excellent leadership skills demonstrated through ownership of issues seen through to resolution, providing sound guidance to others, and positively influencing organizational culture
  • Ability to work in a fast paced environment
  • Expert and demonstrated ability to establish strategic vision and drive change
  • Strong leadership skills to inspire outstanding performance through collaboration
  • Strong customer service skills to effectively execute the strategic goals and mission of Cenlar, while demonstrating Key Success Factors
  • Effective listening, communication, and presentation skills to present complex topics to senior management in a persuasive manner
  • Strong problem solving and analytical skills to come up with a mutually acceptable solutions utilizing available resources with diverse perspectives
  • Excellent coaching and counseling skills
  • Excellent organizational skills and ability to multi task to manage multiple large-scale complex projects enterprise-wide
  • Proven people, strategic and tactical leader
  • Resourceful and aggressive ability to research all facets of the industry
  • Ability to plan strategically as it relates to business unit responsibilities
  • Ability to conceptualize long-term business goals and develop orderly process of planning to accomplish goals

Total Rewards:

As an employee-owner at Cenlar, you'll receive an outstanding benefits package that includes paid medical, dental, and life insurance, 401(k), and tuition assistance as well as opportunities for training and professional advancement.

Cenlar is a drug-free workplace and an equal employment opportunity/affirmative action employer M/F/D/V/SO.