Risk Model Governance Specialist Senior

6 days ago


San Francisco, California, United States City National Bank Full time

About Us

City National Bank, a subsidiary of Royal Bank of Canada, is the largest bank headquartered in Los Angeles with $92.03 billion in assets as of April 30, 2024.

Founded in 1954, City National provides personalized banking, investment and trust services in select markets including Los Angeles, Orange County, San Diego, the San Francisco Bay Area, New York City, Nashville, Atlanta, Delaware, Las Vegas, Washington D.C. and Miami.

In addition, the company and its investment affiliates manage or administer $96.83 billion in client investment assets.

City National is dedicated to strengthening communities, and in 2023 alone, the company made more than $11 million in charitable contributions to nonprofits that support the communities it serves.

Job Overview

We are seeking an experienced Risk Model Governance Specialist Senior to join our team at City National Bank.

The ideal candidate will have a strong background in risk model governance, validation, and management, with a proven track record of delivering high-quality results within strict deadlines.

Responsibilities

  • Lead reviews of bank-wide risk and capital models, including models for CCAR stress testing of capital resources, operational risk, liquidity stress models, credit risk and ALM models and qualitative methodologies.
  • Evaluate conceptual soundness of model specifications; reasonableness of assumptions and reliability of inputs; completeness of testing performed to support the correctness of the implementation; robustness of numerical aspects; suitability and comprehensiveness of performance metrics and risk measures associated with use of model.
  • Perform independent validation and testing in accordance with Model Risk Management Policy and Model Validation Standards.
  • Assess and measure the potential impact of model limitations, parameter estimation error or deviations from model assumptions; compare model outputs with empirical evidence and/or outputs from model benchmarks.
  • Document and present observations to manager of the Model Risk Management Unit and to model owners and users, recommend management action plans, and track remediation progress.
  • Evaluate and monitor model performance reports on an on-going basis to ensure models remain valid, as well as contribute in the bank-wide model risk and control assessment.
  • Work with model risk governance analyst to report and register model validation results and documentation.
  • Provide on demand support during the regulatory exams on model risk management and periodic reviews performed by the Internal Audit.
  • In addition, will support the creation and maintenance of the enterprise-wide model inventory, model validation standards, and model risk rating.

Requirements

  • Masters Degree
  • Minimum 5 years of quantitative modeling experience
  • Minimum 3 years of experience managing quantitative modeling teams
  • Minimum 3 years of experience with analytical tools, such as Python, MATLAB, SQL, etc

What We Offer

Starting base salary: $101,231 - $172,355 per year. Exact compensation may vary based on skills, experience, and location. This job is eligible for bonus and/or commissions.

At City National, we strive to be the best at whatever we do, including the benefits and perks we offer our colleagues.



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