What are the responsibilities and job description for the Model Risk Mgmt Analyst II position at Stifel?
Summary
Under the direction of the ERM Managing Director and Model Risk Management Director, Stifel (or “the Firm”) is seeking a Model Risk Management Analyst II with a strong interest in model risk management to play an active role in performing governance and independent reviews of the Firm’s models and non-models (e.g., EUCs, Tools, etc.) where applicable. The role spans multiple aspects of model risk governance applicable to Stifel and its subsidiaries. The position is responsible for helping ensure that all aspects of the model’s lifecycle is in compliance with regulations, and internal policies and procedures.
Essential Duties & Responsibilities
• Assist with managing and maintaining firm wide model inventories (i.e., active models, pipeline models, decommissioned models) and as well as non-model inventories (e.g., tools, databases, EUCs) and ensure that the active model inventory for each business unit/ support function is periodically affirmed by the respective Model Owner and/or BURM
• Ensure that change control logs/ model release notes are obtained from Model Owners on a periodic basis for review and assessment with MRM Director
• Maintain and track all qualified exemptions until expiration
• Prepares the appropriate level of reporting for BURMs, ERM Managing Director, Operational Risk Committee and Risk Management Committee
• Assist with model governance activities which includes, but is not limited to, updating Model Risk Management Policy and Procedures annually, drafting meeting agendas and packets for the Model Risk Working Group meetings, etc., where applicable.
• Gathers request items for internal audits and/or regulatory exams within the specified time period
• Manage the onboarding of consultants and maintaining a log of when each consultant was onboarded and the expiration date
Qualifications
• Some knowledge of model risk regulations (FRB SR 11-7 and OCC 2021-39) a plus
• Assist with reviewing model validation results, new processes and or action plans where warranted due to risk
• Assist with reviewing gap analyses and identifying trends to improve process/controls
• Effective communication skills and ability to relay information well in both written and verbal form at all levels of management as well as participate in presentations
• Good conceptual and quantitative problem-solving skills and demonstrated curiosity in researching and evaluating issues and potential resolutions
• Able to manage priorities, deadlines, and tasks in order to meet deadlines and accomplish goals
• Ability to work both independently and in a team-orientated, collaborative environment is essential
Education & Experience
• Minimum Required: Bachelor’s degree in Finance, Accounting, Economics or a Business/Finance related discipline.
• Minimum Required: 3 years experience in a regulated Financial Services firm
• Some familiarity with various lines of business units/ support areas (i.e., Fixed Income, Wealth Management, Investment Banking, Equity, Research, Compliance, Corporate Accounting, Treasury, etc.) using models and the model’s intended use
Systems & Technology
•Proficient in Microsoft Word, Excel, PowerPoint, Outlook & Visio
•Some exposure to regulatory expectations for model risk including FRB SR 11-7, OCC 2021-39, and other related regulations a plus
About Stifel
Stifel is a more than 130 years old and still thinking like a start-up. We are a global wealth management and investment banking firm serious about innovation and fresh ideas. Built on a simple premise of safeguarding our clients’ money as if it were our own, coined by our namesake, Herman Stifel, our success is intimately tied to our commitment to helping families, companies, and municipalities find their own success.
While our headquarters is in St. Louis, we have offices in New York, San Francisco, Baltimore, London, Frankfurt, Toronto, and more than 400 other locations. Stifel is home to approximately 9,000 individuals who are currently building their careers as financial advisors, research analysts, project managers, marketing specialists, developers, bankers, operations associates, among hundreds more. Let’s talk about how you can find your place here at Stifel, where success meets success.
At Stifel we offer an entrepreneurial environment, comprehensive benefits package to include health, dental and vision care, 401k, wellness initiatives, life insurance, and paid time off.
Stifel is an Equal Opportunity Employer.
