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  • Buffalo, NY

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Model Risk Team Lead - Validation

M&T Bank • Buffalo, NY

Posted 3 days ago

Job Snapshot

Full-Time
Other Great Industries
Other

Job Description

Overview:
Responsible for guiding complex reviews and validation of a category of models used for capital stress testing, risk measurement, pricing and profitability and management decision making. May specialize in certain products or a functional category of models. Provide work leadership to 1-4 model risk validation analysts.

Primary Responsibilities:
  • Provide oversight of the validation processes and review validation of models completed by analysts.
  • Complete complex reviews and validations of models used for capital stress testing, risk measurement, pricing and profitability and management decision making.
  • Own and maintain comprehensive reporting on the population of identified deficiencies, remediation status, and other critical data elements with respect to remediation.
  • Review and deliver effective model risk reporting for Senior Management and the Board of Directors on a regular basis as a key input to risk management decision making.
  • Maintain an awareness of new trends and developments related to standard concepts, practices, and procedures within the model validation/risk analytics field.
  • Manage the relationships with the modeling teams in the various business units to ensure compliance with model risk management policies.
  • Influence managerial type factors such as staffing, performance appraisals, promotions, salary recommendations and terminations.
  • Oversee training and development of junior level analysts.
  • Adhere to applicable compliance/operational risk controls in accordance with Company or regulatory standards and policies.
  • Promote an environment that supports diversity and reflects the M&T Bank brand.
  • Maintain M&T internal control standards, including timely implementation of internal and external audit points together with any issues raised by external regulators as applicable.
  • Complete other related duties as assigned.


Scope of Responsibilities:
The Model Risk Management Department is responsible for maintaining policies and procedures and providing guidance to business lines for all aspects of model risk management. This position interacts with multiple levels of management and staff across all business lines in the Bank.

Supervisory/ Managerial Responsibilities:
Manage 1-4 Validation Analysts.

Education and Experience Required:
Master's degree in Mathematics, Statistics, Business Engineering, Econometrics, or Science-based discipline, plus 4 year' experience in developing or validation models, inclusive of 1 year management experience or in lieu of degree, a combined minimum of 9 years' higher education and/or work experience, with a minimum of 4 years' experience in Banking, Risk, Finance, Audit or Compliance, inclusive of 1 year of supervisory experience.

Technical knowledge of advanced software packages used in analytics.

Ability and willingness to learn about a wide variety of topics and develop a variety of skills.

Able to work proactively and independently as well as in a collaborative team environment.

Strong written and verbal communication skills, including strong presentation skills.

Strong project management skills.

Thorough attention to detail and documentation.

Education and Experience Preferred:
Ph.D.

Demonstrated leadership skills.

Demonstrated ability to meet deadlines.

Job ID: R04364
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