Head of Model Risk Management Framework Governance – Director

The Head of Model Risk Management (MRM) Governance is a key role within MRM responsible for the design, implementation, and maintenance of the MRM Governance Framework.

• Model Risk Policy, Standard, and Execution Manual: maintain and manage the MRM Policy, Standard, Execution Manual, Guidelines and templates, including providing significant and direct guidance to the business and authoritative advice regarding operations and requirements related to execution of the MRM Policy requirements
• Assess activities and processes as required per MRM Policy and Procedure to identify opportunities for enhancement and strengthen the model risk management framework
• Manage interaction with businesses and functions across the firm and within MRM, including participating in 1
  
  LoD Model Risk forums on matters related to model risk management
• Support the assessment of the effectiveness of existing model risk controls and processes, identify areas for improvement, and implement necessary changes
• Review any new or updates to firmwide policy documents outside of MRM to identify and assess impacts on MRM operations and ensure external policy documents adhere to the MRM framework
• Assess new or revised regulations and perform gap analysis to identify impact on the MRM Framework and design an action plan for compliance
• Monitor and report on MRM Policy Dispensation and Policy Breaches and impact on the Accountability Framework and management scorecards
• Collaborate with key stakeholders to develop comprehensive corrective action plans to address identified model risk control gaps or failures
• Participate in firmwide initiatives that involve model risk
• Manage regulatory and internal audit requests and deliverables and prepare management’s response to inquiries related to the MRM Framework

• Model Risk Appetite: design and maintain the Model Risk Appetite Key Indicators and thresholds
• Lead the annual review of the Model Risk Appetite KI’s and the quarterly metrics monitoring and reporting
• Engage with ORM on the quarterly assessment of firmwide Model Risk and model risk materiality
• Monitor and manage operational loss events related to Model Risk and follow-up actions

• Participate in the oversight of the operations of Citi's governance committees, including preparing Board/Committee materials, coordinating meetings, managing agendas, and ensuring follow-up on action items
• Assist in the execution of the Enterprise Risk Management Framework and adherence with Risk Management and Compliance Policies
• Adequately assess risk when business decisions are made, demonstrating consideration for the firm’s reputation and safeguarding Citi and its clients and assets, by driving compliance with applicable laws, rules, and regulations; adhering to policy; applying sound ethical judgment; escalating, managing and reporting control issues with transparency; and effectively supervising team activity and creating accountability
• Represent MRM in relevant 1
  
  LOD and 2
  
  LOD Governance Committees
• Oversee Conflict of Interest and Continuity of Business for Model Risk Management
• Lead and execute strategic initiatives related to the MRM Framework

• 15+ years of experience in model risk management, model development and, audit, or other control-related quantitative functions in the financial services industry
• Subject matter expert in Model Risk governance and supervisory guidance related to Model Risk (e.g., SR 11-7, SR 15-18, OCC Handbook for Model Risk Management)
• Ability to identify, measure, and manage key risks and controls
• Strong knowledge in the development and execution of controls
• Proven experience in control-related functions in the financial industry
• Proven experience in implementing sustainable solutions and improving processes
• Understanding of compliance laws, rules, regulations, and best practices
• Understanding of Citi’s Policies, Standards, and Procedures
• Strong analytical skills to evaluate complex risk and control activities and processes
• Strong verbal and written communication skills, with the ability to engage at the senior management level
• Strong problem-solving and decision-making skills
• Ability to…