Model Risk Mgmt Governance Lead Analyst

Citi; New York (NY); On-site; USD 120,000 - 170,000; Full time

Job summary

The Citi 1LoD model risk governance professional in New York supports day-to-day governance across the model lifecycle, including inventory control, documentation review, and coordination with Model Sponsors.

You will develop expertise in model risk management, track validation and remediation activities, and maintain logs and version control for model records, contributing to portfolio health reporting for senior governance staff.

Qualifications

• 10+ years of experience with at least 3–6 years in risk management or model governance.
• Foundational knowledge of model risk management concepts and the model lifecycle.
• Strong organizational skills with ability to manage multiple tasks and deadlines.
• Detail-oriented with strong data quality awareness.
• Excellent written and verbal communication with business stakeholders.
• Proficiency in Microsoft Office; familiarity with governance/risk systems (MRMS or equivalent).

Responsibilities

• Support implementation and monitoring of Citi MRM Policy, Standard, and Execution Manual through tracking and reporting.
• Maintain governance documentation, procedures, and templates used across the MRM function.
• Coordinate business-line participation in working-level meetings with the central MRM organization, preparing agendas, minutes, and follow-up trackers.
• Track the status of model validation activities across the portfolio and maintain up-to-date records in relevant systems.
• Collect testing evidence from Model Sponsors and verify completeness against requirements.
• Maintain records of approved model use cases and monitor for potential out-of-scope usage.
• Track performance monitoring schedules (OPA) and flag exceptions for review.
• Log and track all model change requests and retired models with proper documentation.
• Perform regular data quality checks on the model inventory in MRMS and support attestation processes.
• Produce routine status reports and dashboards for senior governance staff.

Skills

Risk governance

Model lifecycle

Stakeholder management

Data quality

MS Office

MRMS familiarity

Tools

MRMS

Job description

Job Overview

Role Summary

This is a professional individual contributor role within the first-line-of-defense (1LoD) that supports the execution of model risk governance activities across the model lifecycle.

This role is responsible for the day-to-day operational tasks that underpin the governance framework — including inventory management, tracking, documentation review, and coordination with Model Sponsors — while developing a strong foundation in model risk management principles and regulatory expectations.

Responsibilities

• Framework Support & Operations: Support the implementation and monitoring of the business line's adherence to the Citi MRM Policy, Standard, and Execution Manual through operational tracking and reporting.
• Assist in maintaining governance documentation, procedures, and templates used across the MRM governance function.
• Help coordinate business line participation in working-level meetings with the central MRM organization, preparing agendas, minutes, and follow-up trackers.

• Model Lifecycle Support:
• Model Identification: Assist in conducting outreach to business stakeholders to identify potential models; log and track submissions for MRM determination.
• Development & Documentation:
  • Conduct initial reviews of Model Development Documents (MDDs) against a defined checklist of policy requirements, flagging gaps or missing information for follow-up.
  • Coordinate with Model Sponsors to collect required documentation and track outstanding items to closure.
  • Maintain documentation logs and version control for all model-related records.
• Validation & Remediation:
  • Track the status of all model validation activities across the portfolio (initial, annual, and ongoing validations), maintaining up-to-date records in relevant systems.
  • Monitor remediation action plans, send timely reminders to responsible parties, and flag overdue items for escalation.
  • Compile validation finding summaries and aging reports for senior review.
• Implementation & Use:
  • Collect and log implementation testing evidence from Model Sponsors, verifying completeness against requirements.
  • Maintain records of approved model use cases and assist in monitoring for potential out-of-scope usage.
• Ongoing Monitoring:
  • Track performance monitoring (OPA) schedules for all models and proactively follow up with Model Sponsors to ensure timely completion.
  • Compile and organize OPA results, flagging any exceptions or performance concerns for review.
• Model Change & Retirement:
  • Log and track all model change requests, ensuring supporting documentation is collected and governance steps are completed in sequence.
  • Maintain records of formally retired models and ensure the model inventory is updated accordingly.

Inventory, Attestation & Reporting

• Perform regular data quality checks on the business line's model inventory in MRMS, identifying and resolving discrepancies with Model Sponsors.
• Support the semi-annual model inventory attestation process by coordinating outreach, collecting confirmations, and compiling results.
• Assist in preparing the Policy Dispensation and Policy Breach reporting, maintaining logs and supporting the documentation process.
• Produce routine status reports, dashboards, and trackers that provide visibility into portfolio health for senior governance staff.

Learning & Development

• Actively develop knowledge of model risk management principles, regulatory expectations (e.g., SR 11-7), and the Citi MRM Policy framework.
• Participate in team discussions and knowledge-sharing activities to build subject matter expertise over time.

Qualifications

• 10+ years of experience with at least 3–6 years of experience in risk management, model governance, financial services operations, or a related analytical field.
• Foundational knowledge of model risk management concepts and the model lifecycle; familiarity with equivalent regulatory guidance is a plus.
• Strong organizational skills with demonstrated ability to manage multiple concurrent tasks, deadlines, and stakeholder follow-ups.
• Detail-oriented with strong data quality awareness; experience maintaining complex inventories or tracking systems.
• Good written and verbal communication skills, with the ability to produce clear status reports and communicate professionally with business stakeholders.
• Proficiency in Microsoft Office (Excel, PowerPoint, Word); experience with governance or risk management systems (e.g., MRMS or equivalent) is advantageous.

Equal Employment Opportunity information is provided to comply with applicable laws. Citi is an equal opportunity employer and does not discriminate on the basis of race, religion, color, sex, sexual orientation, gender identity, national origin, disability, veteran status, or any other characteristic protected by law.

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