ERM Model Risk Management Manager

2 weeks ago

Pasadena, United States Unavailable Full time
Introduction

Since 1973, East West Bank has served as a pathway to success. With over 120 locations across the U.S. and Asia, we are the premier financial bridge between the East and West. Our teams of experienced, multi-cultural professionals help guide businesses and community members on both sides of the Pacific looking to explore new markets and create new opportunities, and our sustained growth and expertise in industries like real estate, entertainment and media, private equity and venture capital, and high-tech help build sustainable businesses and expand our associates’ potential for career advancement. Headquartered in California, East West Bank (Nasdaq: EWBC) is a top performing commercial bank with an exclusive focus on the U.S. and Greater China markets. With a strong foundation, and enterprising spirit and a commitment to absolute integrity, East West Bank gives people the confidence to reach further.

Overview

We are currently seeking a Model Risk Management manager to supplement our growing model risk function to oversee model risk governance and conduct model validations. This role will require working and communicating with individuals throughout the institution regarding risk analysis, project management, collaborating with business units in developing risk management and governance frameworks related to model risk. Model Risk Management is within the Enterprise Risk Management department; thus, this role will manage the model risk framework of the Bank. This role will also regularly act as a consultative resource to the first and second line of defense, put together risk presentation or informational reports for business unit leaders, executive management and the Board of Directors, and interpret and create entity-wide policies related to risk management and risk governance.As an East West Bank employee, you will be part of a stable but growing organization that provides career path development opportunities within the department or across the Bank.

Responsibilities
  • As a valuable East West Bank team member, your duties will include (but not limited to):
  • Help oversee the Model Risk Management function and administration
  • Perform quantitative and statistical analysis of data and data results
  • Perform validation on the Bank's quantitative models such as credit risk models, ALM model, BSA model, behavior models, or CECL models, as needed in accordance with industry and SR11-7 standards
  • Perform validation on model data integrity, data appropriateness, and model governance
  • Develop benchmark models using statistical techniques (e.g. Logistics regression, stochastic process, ARIMA, ARCH/GARCH, etc.)
  • Build financial model prototypes, implement test procedures, and assist with the implementation of new control processes for models.
  • Collaborate with quantitative risk analysts, model managers, model development groups and thirdparty consulting groups
  • Manage model risk governance, policies, procedures, and department RCSA
  • Perform model vs. non-model analysis
  • Conduct model risk training and serve as a consultative resource
  • Participate as an integral team member or project manager on new risk-related initiatives of the Bank
  • Create entity-wide and department specific policies and procedures as new risk regulations are promulgated or as the business environment changes
  • Write memoranda to ensure the Bank complies with new regulations or justification for the acceptance of risk
  • Compile and monitoring key risk indicators, assessing the need for new indicators depending on the change in the entity's business or processes
  • Prepare presentations for various executive management or Board of Directors' risk committees
  • Prepare ad-hoc risk management reports as assigned
  • Perform comprehensive and well thought-out quantitative analyses and justifying the results and ERM's conclusion in a logical manner
  • Keep up to date with the industry best practice and new regulations
  • Perform other duties and special projects as assigned
Qualifications
  • More than 8 years of work experience in model risk management, model validation, or model risk management consulting
  • A strong understanding of finance/ accounting/business operations, either through educational degree or work experience
  • A strong working knowledge of MS Office Software Suite (Word, Excel, Access, PPT) and at least a moderate level of understanding of regression models
  • Ability to project manage and hold self and responsible parties accountable to assigned deadlines
  • Ability to make sound risk/reward decisions and propose practical solutions
  • Ability to consciously balance data, logic and intuition in all activities
  • Ability to think broadly, generate simple and creative ideas, and to translate strategy to execution
  • Must have excellent written, verbal, organizational and presentation skills
  • Proven, proactive approach to problem solving and workflow analysis
  • Collaborative team player and demonstrated ability to be flexible and easily shift among various tasks and projects
  • Excellent communication skills
  • Strong organizational skills, with the ability to effectively manage multiple deliverables and be able to identify and implement process improvements
  • Self- motivated and able to work effectively both independently and as a team
  • Knowledge of liquidity, market, and capital risks is a plus.
Compensation The base pay range for this position is USD $100,000.00/Yr. - USD $160,000.00/Yr. Exact offers will be determined based on job-related knowledge, skills, experience, and location.

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