Model Risk Manager

Summary

The Model Risk Manager is responsible for leading the Model Risk Management (MRM) program and for managing the risks associated with model used within First United Bank and Trust ("the Bank"), ensuring they are accurate, reliable and used appropriately. The role reports to the Director of ERM and maintains activities that support a robust enterprise-wide MRM program.

Major Duties and Responsibilities (Essential Functions)

Leads an effective enterprise-wide model risk management program that ensures model risks are managed throughout the model life cycle across all business units in accordance with internal policies and program established by the Enterprise Risk Management function, and within regulatory guidelines, SR 11-7. Performs model validations (or conducts oversight of external partner) and model risk assessments in accordance with program requirements. Responsible for actively maintaining comprehensive model/tool inventories and reporting. Build and manage relationships with model and critical tool owners across the enterprise, providing support and guidance for conducting model risk assessment, validations, ensuring adequate model documentation and ongoing model performance monitoring. Oversee model governance processes, including administering the Model Governance Committee, model issues management and reporting of model risks. Conducts annual training as needed or required by model risk program requirements or regulatory guidance. Provides insight regarding data accuracy and integrity during model review activities, in accordance with the Bank's data governance policy and standards.

Employee Specifications

To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. The requirements listed below are representative of the knowledge, skill, and/or ability required. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

Education and Work Experience

• Degree in Econometrics, Quantitative Finance/Analytics, Mathematics or Statistics is required
• FRM and/or CFA designation is desirable
• 10+ years of relevant model risk management and financial analytics experience, preferably at a Bank or consulting firm
• Ability to perform model validations, assess model conceptual design, back-testing of model results, assumptions, controls over data flows, model execution, and compliance of model results with intended application by model users.

Technical/Functional Competencies

• In-depth knowledge and experience with financial risk modeling practices and concepts required.
• Knowledge of quantitative risk modeling theory and practice, and experience developing models required.
• Demonstrate understanding of Model Risk Regulatory Requirements required, as well as Banking Policies & Standards, and Modeling Process/Business Acumen.
• Proven technical skills and experience using database querying and programming languages, statistical packages, and/or analytical software required.
• Ability to work effectively under deadline pressures, and adjust quickly to changing priorities
• Excellent organizational and time management skills, with the ability to deliver commitments while managing multiple projects and priorities.
• Ability to present model methodology and results clearly and concisely to Executive Management and the Board.

NOTE: This job description is not intended to be all-inclusive. Employee may perform other related duties as assigned by supervisor to meet the ongoing needs of the organization.

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If any applicant is unable to complete an application or respond to a job opening because of a disability, please email us at HR@firstunitedbank.com for assistance.