Model Risk Manager

Busey Bank; Ohio; On-site; USD 92,000 - 126,000; Full time

Job summary

An established industry player is seeking a Model Risk Manager to lead their Model Risk Management Program. This pivotal role involves cultivating relationships with model owners and developers, ensuring compliance with regulatory standards, and enhancing the program through insightful reporting and proactive risk management. The position offers a chance to grow within a dynamic financial institution, contributing to the success of model governance and oversight processes. If you're passionate about risk management and eager to make a significant impact, this opportunity is perfect for you.

Benefits

401(k) match

Profit sharing

Stock purchase plan

Paid time off

Medical insurance

Dental insurance

Vision insurance

Life insurance

Disability insurance

Wellness incentives

Qualifications

• 10+ years of experience in financial model development and oversight.
• Strong analytical and strategic thinking skills are essential.

Responsibilities

• Lead and manage the Model Risk Management Program for the bank.
• Develop insightful quarterly reporting for management and the Board.

Skills

Microsoft Office (Excel, PowerPoint)

R or Python

Analytical Skills

Strategic Thinking

Communication Skills

Education

Bachelor's Degree in Finance, Economics, or Accounting

Tools

Archer GRC platform

Job description

Position Summary

As a Model Risk Manager, your primary responsibility will be leading First Busey Corporation's Model Risk Management Program in accordance with the Model Risk Policy and Program. In this position, you will cultivate positive working relationships with model owners and developers to proactively identify and mitigate risks, identify opportunities and develop solutions to enhance the Model Risk Program, and create timely and insightful reporting for Senior Management and the Board of Directors to enable proactive risk management processes. This position provides you with an opportunity to further your career in a growing financial institution and evolve the Model Risk Management program.

Duties & Responsibilities

1. Lead the Company's Model Risk Management (MRM) Program, providing support for the lines of business in the identification, management, and measurement of model risks.
2. Act as the Bank's subject matter expert on model risk management and provide guidance and structure to the lines of business to ensure model governance processes are both appropriately implemented and sound (SR 11-7).
3. Manage the inventory of models and non-models to ensure completeness and accuracy, timely completion of required actions, and compliance with the MRM Policy and Program.
4. Be well-versed in the Company's universe of models and non-models, including their usage, ownership, assumptions, limitations, deficiencies, and mitigation strategies.
5. Manage the inventory of MRM Program metrics and model-specific metrics, reporting on performance and identifying deterioration proactively.
6. Execute model validations as required by the MRM Program.
7. Review annual Periodic Reviews for models and non-models to assess performance and monitoring efforts.
8. Monitor and report on model-related findings, guiding Model Owners to remediate findings as needed.
9. Develop insightful quarterly reporting for management, oversight committees, and the Board using diverse data sources.
10. Organize MRM Working Group meetings, including setting agendas, preparing materials, and coordinating with guest presenters.
11. Present quarterly updates to the MRM Working Group and other oversight committees as necessary.
12. Manage the Model Risk Management Policy, Program, procedures, and training initiatives to align with regulatory expectations and industry best practices for a $20bn+ financial institution.
13. Develop and execute initiatives and project plans to continuously enhance the Program.
14. Maintain the MRM module within the Company's Archer GRC platform for effective model lifecycle management.
15. Engage with industry consortiums and attend conferences to stay updated on regulatory and industry developments.
16. Support internal audit and regulatory requests as required.
17. Lead and support special projects as necessary.

Education & Experience

Knowledge of:

• Advanced experience in Microsoft Office, especially Excel and PowerPoint.
• Technical proficiency in R or Python.
• At least ten years of experience in development, review, validation, and oversight of financial models.
• Deep knowledge of FRB's SR 11-7.
• Strong analytical, strategic thinking, and attention to detail.
• Excellent communication, organizational, and interpersonal skills.

Ability to work:

• Independently and collaboratively.
• Effectively build rapport and gain trust, challenging concepts respectfully and thoughtfully.

Education and Training

• Bachelor's Degree in Finance, Economics, Accounting, or a related field (or equivalent experience).
• High-level quantitative and analytical skills.
• Problem-solving skills with a proactive approach.
• Effective communication skills for clear verbal and written exchanges.
• Process management orientation and continuous improvement mindset.
• Strong planning and organizational skills, with a self-starter attitude.

Benefits and Compensation

Salary is based on duties, qualifications, experience, and market trends. The role may include bonuses or incentives based on performance.

(Base Pay Range: $92,000 - $126,000/year)

Busey offers a comprehensive Total Rewards package including 401(k) match, profit sharing, stock purchase plan, paid time off, medical, dental, vision, life insurance, disability, wellness incentives, and more. Visit Busey Total Rewards for details.

Equal Opportunity

Busey values diversity and inclusion, striving to recruit, develop, and retain talented individuals. We are an Equal Opportunity Employer, including Disability/Vets. Learn more at Busey.com/Careers.

Unsolicited Resumes

Busey does not accept fees for resumes from recruiters or agencies without a written agreement. We consider unsolicited resumes but reserve the right to hire without obligation to the agency. Please do not contact associates directly for recruiting inquiries.