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VP, Model Risk Validation Manager

2 months ago

Jersey City, New Jersey, United States The Madison-Davis Group Full time
About the Role

The Madison-Davis Group is seeking a highly skilled VP, Model Risk Validation Manager to join our team. As a key member of our Model Risk Management function, you will play a critical role in ensuring the effectiveness of our model risk controls.

Key Responsibilities
  • Establish a Model Risk Controls Testing Program: Develop a comprehensive testing program to verify the effectiveness of model risk-owned controls, including the development of a model risk controls library and testing methodology.
  • Identify and Document Control Activities: Identify control activities performed by the Model Validation and Governance team and document them in a formal control library.
  • Develop Testing Approach and Methodology: Independently challenge the work performed by the Model Validation and Governance Team by developing and implementing a controls testing approach and methodology.
  • Discuss Testing Results and Remediation Actions: Discuss testing results with the Model Validation and Governance team and agree on remediation actions.
  • Support Control Testing Activities: Support control testing activities as part of the RCSA program.
  • Develop Reporting: Develop reporting summarizing the status of model risk controls testing.
  • Support Remediation of Audit Issues and Regulatory Feedback: Support the remediation of audit issues and/or regulatory feedback related to model risk controls.
About You

We are looking for a highly skilled and experienced professional with a strong background in model risk management and governance. You will have a proven track record of developing and implementing effective model risk controls and testing programs.

You will be a strong communicator with excellent interpersonal skills, able to work effectively with cross-functional teams and stakeholders. You will also have a strong analytical mindset, with the ability to identify and document control activities and develop testing approaches and methodologies.

In addition, you will have a strong understanding of regulatory requirements and industry best practices related to model risk management and governance.