The Model Risk Manager will be is responsible for coordinating and ensuring implementation and ongoing maintenance and development of the Bank’s Model Risk Management (“MRM”) governance framework. The Model Risk Manager will work with model owners and management committees to ensure MRM documentation and risk management processes are sufficient to meet business needs and regulatory obligations. This position will also ensure that appropriate governance processes are developed, followed, and documented in all phases of the MRM lifecycle: model development, use, calibration/validation, and decommissioning.
You'll enjoy the flexibility to either work in office in Salt Lake City, UT or telecommute* as you take on some tough challenges.
The Model Risk Manager will be responsible for the following:
- Maintain the Model Inventory
- Facilitate model owner compliance the MRM procedures and standards
- Maintain the Model Risk Assessment for each model
- Provide oversight and challenge to the model validation process, ensuring adherence to appropriate standards in in selecting the validator, both internal and external
- Oversight of model performance by Model Owners, through periodic reviews and appropriate risk-based validation
- Maintain templates and recommend appropriate standards related to the Model Risk
- Management Framework for approval by the MRM Committee
- Chair the Bank’s Model Risk Management Committee
- Prepare appropriate Committee and Board reporting on the Bank’s MRM efforts
- Ensure an appropriate level of documentation and challenge by model owners and the governing management committees
- Excellent written and verbal communication and presentation skills
- Ability to analyze, manage and resolve complex issues with attention to detail
- Excellent people-management. project management, and interpersonal skills, including the ability to work well both individually and in a team (in person and virtual) environment across all organizational levels where flexibility, collaboration, and adaptability are important
- Assertive self-starter, with exceptional verbal and written skills, organized and able to work independently
- Must be able to appropriately prioritize time, manage multiple tasks and work effectively under tight deadlines
- Demonstrate high integrity and excellent judgment
You’ll be rewarded and recognized for your performance in an environment that will challenge you and give you clear direction on what it takes to succeed in your role as well as provide development for other roles you may be interested in.
- Bachelor’s degree in Finance, Business, or related field
- 2 years’ experience working in a bank or other financial institution with duties focused on model risk management, model validation, operational risk management, or related area
- Functional knowledge in meeting regulatory expectations and standards in all phases of the model development, use, and maintenance process:
- Model predevelopment and development
- Model calibration
- Model implementation and testing
- Model controls and security
- Ongoing model monitoring and maintenance
- Model documentation
- Model challenge and validation
- Model change management and retirement
- 2 years functional experience in implementing/managing models for CECL, Stress Testing, and/or Interest Rate Risk at a large financial institution
- 2 years’ experience with developing and documenting policies, standards, and procedures to implement sound model risk management practices, methods, tools, and processes, and the ability to train and lead others to enhance institutional knowledge and adoption of the same
- 2 years’ experience working with auditors (internal and external) and regulators (FDIC, UDFI)
- 2 years’ experience identifying, correcting and resolve banking regulatory’ s and risk management deficiencies
- 2 years’ experience with reading, analyzing, and interpreting governmental regulations, regulatory guidance and manuals, and legal documents
- If you need to enter a work site for any reason, you will be required to screen for symptoms using the ProtectWell mobile app, Interactive Voice Response (i.e., entering your symptoms via phone system) or a similar UnitedHealth Group-approved symptom screener. When in a UnitedHealth Group building, employees are required to wear a mask in common areas, In addition, employees must comply with any state and local masking orders.
- Advanced degree or professional certification in model risk management related area
- Prior regulatory experience or experience in managing regulatory examinations
UnitedHealth Group is an essential business. The health and safety of our team members is our highest priority, so we are taking a science driven approach to slowly welcome and transition some of our workforce back to the office with many safety protocols in place. We continue to monitor and assess before we confirm the return of each wave, paying specific attention to geography-specific trends. We have taken steps to ensure the safety of our 325,000 team members and their families, providing them with resources and support as they continue to serve the members, patients and customers who depend on us.
You can learn more about all we are doing to fight COVID-19 and support impacted communities at: [ Link removed ] - Click here to apply to Model Risk Manager - Salt Lake City, UT or Telecommute.
*All Telecommuters will be required to adhere to UnitedHealth Group's Telecommuter Policy
Colorado Residents Only: The salary range for Colorado residents is $94,500 to $171,700. Pay is based on several factors including but not limited to education, work experience, certifications, etc. As of the date of this posting, In addition to your salary, UHG offers the following benefits for this position, subject to applicable eligibility requirements: Health, dental, and vision plans; wellness program; flexible spending accounts; paid parking or public transportation costs; 401(k) retirement plan; employee stock purchase plan; life insurance, short-term disability insurance, and long-term disability insurance; business travel accident insurance; Employee Assistance Program; PTO; and employee-paid critical illness and accident insurance.
Diversity creates a healthier atmosphere: UnitedHealth Group is an Equal Employment Opportunity/Affirmative Action employer and all qualified applicants will receive consideration for employment without regard to race, color, religion, sex, age, national origin, protected veteran status, disability status, sexual orientation, gender identity or expression, marital status, genetic information, or any other characteristic protected by law.
UnitedHealth Group is a drug-free workplace. Candidates are required to pass a drug test before beginning employment.
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