Model Risk Officer

4 weeks ago

Étreux, Hauts-de-France, United States State Street Corporation Full time
Job Description

The State Street Global Advisors Model Risk Officer is a critical role within the first line of defense, reporting to the SSGA Business Risk Management Executive. The successful candidate will work to establish and maintain a model oversight framework for SSGA's first line management of model risk and end-user developed tools (EUDTs). This includes development and maintenance of model and EUDT policies and procedures, the SSGA model and EUDT inventory, and governance and oversight of key elements of the overall program.

Key Responsibilities
  • Establish strong and productive relationships with counterparts and contacts within the second line model risk function, and act as a liaison between these teams and SSGA business.
  • Partner with representatives from each of the first line SSGA business teams to meet model and EUDT related requirements, acting as the main point of contact on model and EUDT related matters.
  • Ensure actions assigned to SSGA, including those related to model and EUDT issues, remediation, audit, and other requirements are addressed and resolved by providing coordination and/or subject matter support/expertise when needed.
  • Develop and maintain SSGA policies and procedures for the model and EUDT lifecycle to meet regulatory and corporate requirements.
  • Establish a process within SSGA to validate the model and EUDT inventory on an annual basis.
  • Establish governance and reporting around model risk and control framework.
  • Facilitate proper review and challenge of key model documentation.
  • Establish and maintain model risk controls in the GA control inventory.
  • Perform ongoing assurance over model risk controls.
  • Represent SSGA on Model Risk and EUDT governance and working groups as appropriate.
Requirements
  • 10+ years of financial services experience with a large financial services firm or advisory/consulting firm with significant risk, compliance, regulatory or related experience working through all stages of the model / EUDT lifecycle.
  • Solid knowledge of asset management, gained from experience interacting with portfolio managers, model researchers, developers and/or traders.
  • Well-developed leadership skills with the ability to influence across all levels of the organization.
  • Independent strategic thinker with strong organizational awareness and ability to facilitate and resolve conflicts; ability to make informed, risk optimized decisions under time pressure.
  • Ability to work independently and collaboratively with senior portfolio managers, operations, operational risk, trading, and other internal groups to drive results.
  • Excellent communication and interpersonal skills, with the ability speak with authority and tailor messages to a wide variety of audiences.
  • Understanding of model and EUDT lifecycle and IT general controls, along with expertise in related key risks and control best practices.
  • Commensurate technical and program management experience with the end-to-end model and EUDT lifecycle to adequately design, deploy, and maintain an effective program and review/challenge key deliverables.
  • Proven project management, organization, and analytical skills and attention to detail.
  • Advanced skills in MS Excel and PowerPoint required; knowledge and skill in Python, R, and/or other standard programming languages preferred.

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