Manager, Model Risk Management

A systemically important clearinghouse is currently hiring a newly created Model Risk Manager position to sit out of their NYC office. This growth hire will join the model risk team as a hands-on thought leader and mentor to junior hires as they continue to expand over the next several years.

Our client is a tight-knit organization focused payment processing and transaction clearing for all major US banks, fintech payment processors, US regulatory banking bodies, and more. The firm has over 100 years in the market, and this person will be influential to the way the team handles risk data analysis for all trading/clearing counter parties, and how they review the use and efficacy of third party models.

The Head of Model Risk wants to hire a strong mid-senior level candidate with deep knowledge of the modelling lifecycle, ideally acting as a leader on the Model Risk team, focusing on quantitative analytics, model development/validation/governance, and overall on data science requests across the model risk organization. With the emergence of more AI tools and models, expanded use cases of vendor models, and increasing diversity and complexity of payment processing firms, there is a serious need for this individual to organize and modernize the model risk function.

This individual will play a major role cross-functionally working with business heads, quant groups, risk management teams, and technologists in addition to external stakeholders and model vendors. Ideally the team is looking for someone who can be independent and challenge the model risk lifecycle and directly bring findings to senior management.

Requirements:

• 6+ years of experience in a model risk function
• Excellent academic pedigree, with Bachelors and advanced degrees (MS, MBA, PhD, etc.) from top tier university
• Expertise with interbank payments, corporate treasury analytics and models, and payment processing analytics
• Prior experience in Model Development or Validation strongly preferred
• Basic programming experience in Python, SQL, R, or similar language
• Excellent verbal and written communication