Bank of China USA
Enterprise Risk Management Department-Model Risk Management AVP
Bank of China USA, New York, New York, us, 10261
Overview
Enterprise Risk Management Department - Model Risk Management AVP
role at Bank of China USA. The AVP role in the Model Risk Management team requires understanding of the model risk management framework and regulatory requirements. The role supports the team to implement and enhance the model risk management framework, including carrying out model risk governance activities and performing independent model validation. This role also provides exposure to End User Computing (EUC) control framework implementation. The role executes tasks around model risk governance, conducts and adds business value in the model validation process, and contributes to the EUC control process as well.
Responsibilities
Model Validation : Drive and support improvements to model risk management policy, procedure, and standards. Implement activities defined in the model risk management framework and ensure the Bank’s framework remains aligned with regulatory expectations, while proactively enhancing internal BAU processes. Maintain model inventory and conduct annual model reviews/attestations. Facilitate bank-wide model risk activities (e.g., risk assessment for new product launches, model risk aggregation/assessment, and model risk management trainings) to internal stakeholders.
EUC Control : Contribute to EUC control framework maintenance, execution and enhancement. Collaborate with relevant stakeholders to carry out activities defined in the EUC control framework. Drive the implementation and enhancements of EUC control in the Bank.
Model Validation – 2nd line of defense : Collaborate with internal stakeholders and perform as the second line of defense for model risk. Conduct or support the independent model validation for models defined in the model inventory and produce model validation reports. Coordinate remediation of model validation findings and provide guidance to finding owners. Communicate with model developers/owners/users and senior management regarding validation findings and remediation activities.
Qualifications
Bachelor’s degree required. Master’s degree in Financial Engineering, Mathematics, Statistics or Computer Science preferred.
Minimum 5 years of model risk management experience.
Demonstrate strong analytical and quantitative skills to understand and validate models effectively.
Demonstrate knowledge of SR11-7, supervisory guidance on model risk management, and other relevant banking regulations from regulators including OCC and FRB. Specialty in credit risk models and compliance models preferred. FRM or CFA preferred.
Pay Range Actual salary is commensurate with candidate’s relevant years of experience, skillset, education and other qualifications. USD $65,000.00 - USD $150,000.00 /Yr.
Seniority level Executive
Employment type Full-time
Job function
General Business, Management, and Business Development
Industries Banking
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role at Bank of China USA. The AVP role in the Model Risk Management team requires understanding of the model risk management framework and regulatory requirements. The role supports the team to implement and enhance the model risk management framework, including carrying out model risk governance activities and performing independent model validation. This role also provides exposure to End User Computing (EUC) control framework implementation. The role executes tasks around model risk governance, conducts and adds business value in the model validation process, and contributes to the EUC control process as well.
Responsibilities
Model Validation : Drive and support improvements to model risk management policy, procedure, and standards. Implement activities defined in the model risk management framework and ensure the Bank’s framework remains aligned with regulatory expectations, while proactively enhancing internal BAU processes. Maintain model inventory and conduct annual model reviews/attestations. Facilitate bank-wide model risk activities (e.g., risk assessment for new product launches, model risk aggregation/assessment, and model risk management trainings) to internal stakeholders.
EUC Control : Contribute to EUC control framework maintenance, execution and enhancement. Collaborate with relevant stakeholders to carry out activities defined in the EUC control framework. Drive the implementation and enhancements of EUC control in the Bank.
Model Validation – 2nd line of defense : Collaborate with internal stakeholders and perform as the second line of defense for model risk. Conduct or support the independent model validation for models defined in the model inventory and produce model validation reports. Coordinate remediation of model validation findings and provide guidance to finding owners. Communicate with model developers/owners/users and senior management regarding validation findings and remediation activities.
Qualifications
Bachelor’s degree required. Master’s degree in Financial Engineering, Mathematics, Statistics or Computer Science preferred.
Minimum 5 years of model risk management experience.
Demonstrate strong analytical and quantitative skills to understand and validate models effectively.
Demonstrate knowledge of SR11-7, supervisory guidance on model risk management, and other relevant banking regulations from regulators including OCC and FRB. Specialty in credit risk models and compliance models preferred. FRM or CFA preferred.
Pay Range Actual salary is commensurate with candidate’s relevant years of experience, skillset, education and other qualifications. USD $65,000.00 - USD $150,000.00 /Yr.
Seniority level Executive
Employment type Full-time
Job function
General Business, Management, and Business Development
Industries Banking
#J-18808-Ljbffr