Model Risk Officer

1 week ago

Memphis, Tennessee, United States Evolve Bank & Trust Full time $120,000 - $200,000 per year

Job Description:

The Model Risk Officer will work with the Enterprise Risk Officer and CRO to develop and oversee the Bank's model risk framework, including the governance, development, use, validation, and monitoring requirements for all models used across the Bank. This includes review, and appropriate monitoring and validation of third-party models used by various Fintech programs and partners of the Bank. This role ensures that internal and external models are developed, implemented, maintained, and validated in alignment with regulatory expectations, industry best practices, and the Bank's internal risk appetite and practices.

Main Job Tasks & Responsibilities:

  • Develop, maintain, and enforce the Bank's Model Risk Management Framework in accordance with regulatory guidance (Federal Reserve, SR 11-7).
  • Maintain a model inventory and risk rating classification system to ensure all internal and external models are appropriately categorized and periodically reviewed and validated.
  • Review model development, testing, and documentation with model owners internally, as well as Fintech or other third-parties to meet governance standards.
  • Develop and execute a yearly testing/validation plan to perform independent validations in accordance with internal requirements.
  • Execute and oversee the execution of model validation and review processes, including independent validation of quantitative models including but not limited to those used in credit, market, operational, liquidity, and capital risk assessment.
  • Provide reporting to model owners and other stakeholders, including Third Party Risk Management on individual validations performed including any findings and issues identified.
  • Review and validate any remediation efforts from model owners on any model-related issues discovered during reviews and validations.
  • Review model monitoring outputs from model owners on performance on an ongoing basis and recommend adjustments or retirements as appropriate.
  • Identify and assess model-related risks and recommend mitigations to senior management and the Board of Directors.
  • Provide training and guidance to business units on model risk policies and expectations.
  • Support internal and external audits and regulatory examinations regarding model risk management practices.

Education and Experience:

  • Bachelor's degree in Finance, Economics, Statistics, Mathematics, Data Science, or related field; Master's degree preferred.
  • Minimum of 5-7 years of experience in model validation, quantitative risk management, or related roles in banking or financial services.
  • Strong understanding of regulatory requirements for model risk management (e.g., SR 11-7).
  • Proficiency with quantitative modeling tools (e.g., SAS, R, Python, SQL, MATLAB) and statistical techniques.
  • Experience with credit risk, market risk, or operational risk models.
  • Knowledge of stress testing, scenario analysis, and backtesting techniques.
  • Familiarity with risk governance frameworks and internal controls.

Key Competencies:

  • Excellent analytical, problem-solving, and communication skills; ability to explain complex model issues to non-technical stakeholders.
  • Strong organizational skills with the ability to manage multiple priorities and deadlines.
  • Proficiency in Microsoft Office Suite (Excel, Word, PowerPoint), and risk management software/tools.

Equal Opportunity Employer

This employer is required to notify all applicants of their rights pursuant to federal employment laws. For further information, please review the Know Your Rights notice from the Department of Labor.

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