Senior Model Risk & Validation Lead

Financeroles; Woodbridge Township (NJ); On-site; USD 142,000 - 163,000; Full time

Benefits offered by this job

Health insurance

Paid time off

401(k) retirement plan

Job summary

Provident Bank is seeking a Model Risk Manager in New Jersey to lead our Model Risk Management framework, oversee validations, and manage the full model lifecycle. The role requires strong regulatory knowledge, governance skills, and experience challenging model owners.

Collaboration with regulators, Audit, and business lines is essential for ongoing risk management. The position emphasizes independent review of AI/ML, data governance, and quantitative analytics to ensure sound risk controls

Qualifications

• 5-7 years of professional experience in quantitative analysis, model validation, or model risk management.
• At least 3 years in financial services with quantitative model oversight.
• Strong knowledge of SR 11-7 and OCC/FDIC expectations for model risk management.
• Experience performing or overseeing independent model validations.
• Ability to independently challenge model developers and business lines.

Responsibilities

• Lead the Bank's Model Risk Management framework and governance.
• Conduct independent model validations and oversee third-party validators.
• Manage model inventory, risk tiering, validation findings, and reporting to leadership.
• Oversee the full model lifecycle from development to retirement.
• Coordinate governance with regulators, internal audit, and governance committees.
• Oversee data governance and AI/advanced analytics risk within models.

Skills

Quantitative analysis

Model validation

Regulatory knowledge

Communication

Data governance

Independent challenge

Education

Quantitative degree (math, physics, engineering, CS, financial eng)

Job description

Provident Bank is seeking a Model Risk Manager in New Jersey to lead our Model Risk Management framework, oversee validations, and manage the full model lifecycle. The role requires strong regulatory knowledge, governance skills, and experience challenging model owners.

Collaboration with regulators, Audit, and business lines is essential for ongoing risk management. The position emphasizes independent review of AI/ML, data governance, and quantitative analytics to ensure sound risk controls