Model Risk Mgmt Governance Sr. Lead Analyst

Citi; New York (NY); On-site; USD 36,365 - 57,145; Full time

Job summary

Citi is seeking a senior individual contributor to lead operational governance of the business line's models in alignment with the enterprise-wide Model Risk Management policy. The role owns end-to-end governance across the model lifecycle and serves as a key liaison with Model Sponsors, Model Developers, and IRM.

Responsibilities include governance execution, documentation review, remediation tracking, and stakeholder engagement.

Qualifications

• 12+ years of experience in risk management or model governance.
• Strong working knowledge of model risk management principles and lifecycle.
• Experience coordinating governance processes and managing multiple workstreams concurrently.
• Excellent written and verbal communication skills and experience producing high-quality management reports.

Responsibilities

• Lead execution of Citi MRM policy adherence and governance across the model lifecycle.
• Serve as SME and day-to-day liaison for Model Sponsors on governance requirements.
• Represent the business line in meetings with central MRM and support audits.
• Prepare materials for Segment Model Risk Councils and leadership updates.
• Monitor model validation, remediation, and deployment in production environments.

Skills

Risk management

Model governance

Stakeholder engagement

Analytical skills

Communication

Mentorship

Tools

MRMS

Job description

Model Risk Mgmt Governance Sr. Lead Analyst

Location: Chennai, Tamil Nadu, India | Job Type: On-Site/Resident

Overview

This is a senior individual contributor role within the first-line-of-defense (1LoD) that leads operational governance of the business line's models in alignment with the enterprise-wide Model Risk Management (MRM) Policy. The role owns end-to-end governance activities across the model lifecycle and serves as a subject matter expert and primary day-to-day liaison with Model Sponsors, Model Developers, and the second-line-of-defense (IRM) organization.

Responsibilities

• Framework Execution & Advisory: Execute and monitor the business line\'s adherence to the Citi MRM Policy, Standard, and Execution Manual. Identify gaps and recommend corrective actions.
• Serve as a subject matter expert and day-to-day point of contact for Model Sponsors on policy interpretation and governance requirements.
• Represent the business line in working-level meetings with the central MRM organization and support preparation for Internal Audit and regulatory engagements.
• Prepare materials, briefings, and updates for Segment Model Risk Councils on behalf of the Head of MRM Governance.

• Model Lifecycle Governance:
  • Model Identification: Lead the ongoing process to identify quantitative methods, systems, and approaches that may qualify as models; assess scope and coordinate submissions to MRM for determination.
  • Development & Documentation: Partner with Model Sponsors to ensure Model Development Documents (MDDs) are complete, accurate, and of high quality prior to submission for validation.
  • Review documentation for conceptual soundness, data usage, and performance substantiation; provide detailed feedback to model owners.
  • Coordinate governance requirements for vendor models, ensuring equivalent standards are applied.

• Validation & Remediation:
  • Manage end-to-end coordination of model validation activities, including initial validations, annual reviews, and ongoing validations.
  • Track and drive timely remediation of model limitations and validation findings; develop action plans and monitor progress against due dates.
  • Escalate at-risk remediations to the Head of MRM Governance with recommendations for resolution.

• Implementation & Use:
  • Review model implementation evidence to confirm deployment in approved production environments and that implementation testing is completed.
  • Monitor model usage to ensure alignment with approved purposes; document and escalate any model overlays for justification and approval.

• Ongoing Monitoring:
  • Coordinate the ongoing performance monitoring (OPA) schedule for the model portfolio, ensuring Model Sponsors adhere to required frequencies.
  • Analyze monitoring results to identify performance trends or degradation signals, and recommend or escalate actions as appropriate.

• Model Change & Retirement:
  • Manage the governance process for model methodology, implementation, or usage changes, ensuring documentation and MRM approval are obtained prior to implementation.
  • Facilitate the formal retirement process for decommissioned models, ensuring all records are updated accordingly.

Inventory, Attestation & Reporting

• Maintain and validate the completeness and accuracy of the business line\'s model inventory within the Citi Risk Model Risk Management System (MRMS).
• Lead the execution of the semi-annual model inventory attestation process, coordinating with Model Sponsors and compiling outputs for senior review.
• Manage the end-to-end process for Policy Dispensation requests and ensure Policy Breaches are identified, documented, escalated, and remediated in a timely manner.
• Produce management reporting on the health of the model portfolio, including key risk indicators, finding aging, and monitoring status.

• Stakeholder Engagement & Mentorship:
  • Act as a mentor and technical resource to junior professionals, reviewing their work and providing guidance on complex matters.
  • Foster a culture of model risk awareness and accountability across model-owning teams.

Qualifications

• 12+ years of experience with at least 7–10 years in risk management, quantitative analysis, model risk governance, or a related field within a large, complex financial services firm.
• Strong working knowledge of model risk management principles, regulatory guidance, and the full model lifecycle.
• Experience coordinating complex governance processes and managing multiple workstreams concurrently.
• Proven ability to engage and influence stakeholders at various levels, including Model Sponsors and business managers.
• Strong analytical and problem-solving skills, with the ability to assess model documentation and identify substantive gaps or risks.
• Excellent written and verbal communication skills, with experience producing high-quality management reports and presentations.

Working Environment: office setting, minimal travel required. Effort: minimal physical effort required.

Equal Opportunity Statement: Citi is an equal opportunity employer, and qualified candidates will receive consideration without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, disability, status as a protected veteran, or any other characteristic protected by law.

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