Quantitative Risk Management Lead

1 week ago

Pasadena, California, United States East West Bank Full time
About the Role

We are seeking a highly skilled and experienced Model Risk Management Manager to join our team at East West Bank. As a key member of our Enterprise Risk Management department, you will be responsible for overseeing model risk governance and conducting model validations to ensure the accuracy and reliability of our financial models.

Key Responsibilities
  • Oversee the Model Risk Management function and administration, ensuring compliance with industry standards and regulatory requirements.
  • Perform quantitative and statistical analysis of data and results to identify potential risks and opportunities.
  • Validate the Bank's quantitative models, including credit risk models, ALM models, BSA models, behavior models, and CECL models, to ensure they are accurate and effective.
  • Develop and implement benchmark models using statistical techniques, such as logistic regression, stochastic processes, ARIMA, and ARCH/GARCH.
  • Collaborate with quantitative risk analysts, model managers, and model development groups to ensure model risk governance and policies are effective.
  • Manage model risk governance, policies, procedures, and departmental RCSA to ensure compliance with regulatory requirements.
  • Conduct model vs. non-model analysis to identify potential risks and opportunities.
  • Provide model risk training and serve as a consultative resource to the first and second line of defense.
  • Participate in new risk-related initiatives and projects to ensure the Bank's risk management framework is effective.
  • Develop and implement entity-wide and department-specific policies and procedures to ensure compliance with regulatory requirements.
  • Prepare presentations and reports for executive management and the Board of Directors to ensure they are informed of model risk management activities.
Requirements
  • More than 8 years of work experience in model risk management, model validation, or model risk management consulting.
  • A strong understanding of finance, accounting, and 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.
  • 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 $170,000.00/Yr. - USD $200,000.00/Yr. Exact offers will be determined based on job-related knowledge, skills, experience, and location.

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