Job Posting for Model Risk Manager - Capital Markets at Raymond James Financial, Inc.

Model Risk Manager - Capital Markets-2304128

Description

Job Summary:

Leads the design, development, implementation, and maintenance of the firm’s model risk management program. Ensures maintenance of the model inventory and compliance with ongoing governance responsibilities. Develops and updates model risk management policies and procedures, and works to consistently bring models into compliance with MRM standards. Ensures accurate issue tracking and remediation, and oversees the development of MRM and ERM quarterly reporting items. Validation activities include, but are not limited to: assisting with and overseeing model validations, reviewing model governance and control processes, performing validation work paper peer review, collecting and assessing management responses to validation issues, drafting validation addendums, performing risk tier updates and affirmations, determining performance metrics, and reviewing final model validation reports. Conducts light validations on low and medium risk models. Reports to the Director of Model Risk Management and works with various model owners to maintain accurate model governance. Identifies model risk issues, follows through on model risk management objectives and validation issue resolutions, and present MRM issues to Senior Management as well as external stakeholders, including regulators and external auditors.

Essential Duties and Responsibilities:

Work with management to implement the model risk management program across the organization.
Ensure consistency and transparency of the MRM program’s direction, vision, strategy and governance controls.
Develop, enhance and implement procedures and project management tools to ensure that MRM governance is comprehensive and sustainable, and that all MRM governance objectives are achieved.
Communicate the results of model validations to key model stakeholders both orally and in a concisely written format. This will include presenting complicated concepts and analyses performed in a way that effectively communicates the validation findings to audiences with varying degrees of expertise in the domain.
Identify new models, perform risk assessments, and ensure appropriate maintenance of the model inventory as models are added, removed, combined or retired.
Track and oversee the remediation of model validation issues and associated management action plans on an ongoing basis.
Identify noncompliance with MRM standards and offer appropriate remediation steps for resolution.
Independently conduct light validations for low and medium risk models including drafting the validation report and presenting results to various parties.
Oversee the implementation of quarterly and annual ongoing monitoring.
Develop and maintain the annual validation schedule.
Develop and support the preparation of key model risk management reporting materials.
Present validation results, key issues, the status of the model inventory, and noncompliance with the MRM policy to the Model Risk Management Committee (MRMC), as needed.
Ensure timely updates to the MRMC charter and MRM policy and manual in accordance with firm standards.
Establish and maintain effective partnerships with model owners, business unit risk managers, regulatory agencies, and internal and external auditors by being a key resource on MRM governance.
Oversee the management of outsourced model validation engagements and issue MRM addendums to ensure that models are brought into compliance with MRM standards.
Support the identification and tracking of performance metrics for ongoing monitoring of models.
Interface with regulatory agencies and Senior Management to prepare and present model validation results and the status of MRM governance in order to support the remediation of internal audit or regulatory matters requiring attention in regards to model risk management.

Qualifications

Knowledge, Skills, and Abilities:

Knowledge of:

Advanced concepts, practices, and procedures of model and validation governance and risk assessment.
Banking, finance, and securities industry operations from the perspective of banks as well as broker/dealers.
Federal Reserve System’s model risk management guidance SR 11-07 and related requirements.

Skilled in:

Overseeing, planning, and documenting governance responsibilities surrounding models and model validations.
Critical thinking, problem solving, and creativity.
Written and oral communication, including the ability to communicate complex issues to nontechnical persons.
Presentation capabilities.

Ability to:

Manage, coordinate, and facilitate multiple initiatives in a fast paced and dynamic environment.
Assess, organize, and prioritize multiple tasks and meet deadlines.
Develop and enhance procedures and project management plans to meet program objectives on an ongoing basis.
Interpret, analyze, and apply technical information in order to perform job responsibilities.
Stay abreast of industry best practices, procedures, and techniques.
Remain adaptable and resilient while working in a sometimes high-stress environment.
Demonstrate attention to detail while maintaining a big picture orientation.
Work independently as well as collaboratively within a team environment.
Establish and maintain effective working relationships at all levels within the organization.

Educational/Previous Experience Requirements:

Bachelor’s degree (B.A.) in Business Administration, Finance, and/or Accounting and a minimum of eight (8) years of experience in relevant finance, audit and/or risk management roles in the financial services industry, preferably in model risk management governance.

CFA designation highly preferred.
~or~

An equivalent combination of education, training and/or experience as approved by Human Resources.

Raymond James Guiding Behaviors

At Raymond James our associates use five guiding behaviors (Develop, Collaborate, Decide, Deliver, Improve) to deliver on the firm's core values of client-first, integrity, independence and a conservative, long-term view.

We expect our associates at all levels to:

Grow professionally and inspire others to do the same
Work with and through others to achieve desired outcomes
Make prompt, pragmatic choices and act with the client in mind
Take ownership and hold themselves and others accountable for delivering results that matter
Contribute to the continuous evolution of the firm

At Raymond James – as part of our people-first culture, we honor, value, and respect the uniqueness, experiences, and backgrounds of all of our Associates. When associates bring their best authentic selves, our organization, clients, and communities thrive. The Company is an equal opportunity employer and makes all employment decisions on the basis of merit and business needs.

Job Risk

Primary Location US-FL-St. Petersburg-Saint Petersburg

Organization RJF Risk Management

Schedule Full-time

Shift Day Job

Travel Yes, 10 % of the Time

Eligible for Discretionary Bonus Yes

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Model Risk Manager - Capital Markets

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