Vice President of Model Risk Oversight

2 weeks ago

Morrisville, Pennsylvania, United States Cenlar Full time

Empower Your Career at Cenlar

At Cenlar, we pride ourselves on being the nation's premier mortgage loan subservicer, driven by our core values of respect, trust, integrity, and care. As an employee-owned company, we foster a culture that promotes internal advancement and continuous professional development. We invite you to explore the opportunity for the role of Vice President, Model Risk Management.

Position Overview:
The Vice President of Model Risk Management will report directly to the Chief Risk Officer. This pivotal role is responsible for leading a dedicated team in the formulation, development, and execution of the model risk management framework. The VP will oversee the second line of defense governance processes, ensuring that model development, validation, and related modifications are conducted effectively to support our comprehensive forecasting capabilities, including stress testing, credit loss allowances, and capital planning.

Key Responsibilities:
Modeling & Analytics

  • Guide the organization in creating models, methodologies, and analytical frameworks for financial forecasting and risk management.
  • Influence leadership and regulatory bodies in advancing the model risk management initiatives.
  • Oversee modeling and analytics, ensuring the application of various quantitative measures.
  • Translate model outcomes into actionable strategies for risk and profitability management.
  • Establish a robust analytical and reporting framework to minimize operational errors.
  • Develop, present, and document methodologies, algorithms, tools, models, and reports.
  • Ensure comprehensive training for staff on critical modeling tasks.
  • Collaborate with all departments to support the launch of strategies, emphasizing strong testing and controls.
Model Risk Management
  • Lead a team of Model Risk Analysts to implement standards and practices aligned with Cenlar's risk appetite and regulatory guidance.
  • Ensure model design, documentation, implementation, and validation adhere to the Model Risk Management Policy.
  • Conduct independent model validations or oversee third-party validations against established standards.
  • Implement a credible challenge process to ensure adequate documentation of models and assumptions.
  • Manage the identification and maintenance of model inventory, ensuring completeness and accuracy.
  • Oversee the resolution of significant findings through Cenlar's established Issues Management process.
  • Work closely with model owners to understand the business context and add value to processes.
  • Implement governance processes for capital measures in collaboration with key stakeholders.
  • Communicate effectively with management and the board regarding Model Risk Management activities.
  • Ensure compliance with Cenlar's data management policies and standards.
  • Maintain comprehensive documentation for model inventory to facilitate assessment and validation.
  • Establish a change management process for all models.
General Responsibilities
  • Collaborate with managers to set and monitor departmental goals, providing constructive feedback.
  • Lead performance management and professional development across departments.
  • Assess risks in business decisions, ensuring compliance with laws and regulations.
  • Ensure all activities align with Cenlar's risk appetite and compliance requirements.
Qualifications:
  • Bachelor's degree or equivalent experience.
  • Master's or advanced degree in a quantitative field preferred.
  • 12 years of experience in mortgage operations, including managing multiple departments.
  • Proven ability to maintain constructive relationships with regulators.
  • Strong understanding of modeling concepts and practices in the mortgage industry.
  • Ability to lead organizational change effectively.
  • Experience with large data sets and analytical insights.
  • Exceptional technical and analytical skills, with extensive experience in statistical analysis.
  • Strong business acumen and organizational skills.
  • Commitment to integrity and high-quality results.
  • Demonstrated leadership skills with a focus on issue resolution and cultural influence.
  • Ability to thrive in a fast-paced environment.
  • Expertise in strategic vision and change management.
  • Strong customer service orientation aligned with Cenlar's mission.
  • Effective communication and presentation skills for senior management.
  • Proven problem-solving and analytical abilities.
  • Excellent coaching and organizational skills.
  • Resourceful in researching industry facets.
  • Strategic planning capabilities related to business unit responsibilities.
Total Rewards:
As an employee-owner at Cenlar, you will enjoy a comprehensive benefits package, including medical, dental, and life insurance, a 401(k) plan, and tuition assistance, along with opportunities for professional growth and training.

Cenlar is committed to a drug-free workplace and is an equal employment opportunity/affirmative action employer.

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