Model Risk Governance Specialist

Summary:

• Location: Montreal, Canada
• Work Mode: Onsite
• This role is for an existing vacancy.

Responsibilities:

• Ensure compliance with all relevant regulatory requirements and internal standards related to model risk management under the guidance of the Head of RISK IRC Americas.
• Prepare and present regular reports on model risk status, issues, and mitigation efforts to senior management, internal audit, and regulators.
• Coordinate and engage the model validators to ensure that model risk management practices are integrated into the model development and validation processes.
• Provide training and guidance to stakeholders on model risk management principles and best practices.
• Maintain an updated model inventory in accordance with model risk management (MRM) decisions.
• Manage the recommendations inventory and engage with the validators and implementation managers to ensure their adequate and timely resolution.
• Coordinate the annual model attestation with Business Lines and the effective challenge exercise to ensure the completeness and accuracy of the model inventory.
• Maintain and update when necessary, model risk policies, standards, and procedures to ensure consistent and effective model risk management.
• Contribute to the Operational risk framework. Support the annual operational Risk and Control Self-Assessment (RCSA) of RISK IRC Americas. Document the permanent controls applied by model governance team to ensure the oversight and robustness of the MRM framework.

Requirements:

• Bachelor’s or Master’s degree in Finance, Economics, Mathematics, Statistics, or a related field.
• Minimum 3 years of experience in model risk management, preferably within the financial services industry.
• Ability to work in a fast-paced environment and manage multiple deadlines at once.
• Strong sense of ownership and accountability.
• Excellent analytical and organizational skills.
• Ability to engage various stakeholders and deliver clear reports.
• Strong verbal and written communication skills.
• Good synthesis skills and critical thinking capabilities.
• Highly efficient with Word, PowerPoint, Outlook, and Excel.
• Knowledge of the English is required.

Preferred Skills:

• Programming skills (Python).
• Knowledge of AI models governance or validation.
• Knowledge of regulatory guidance on model risk management and banking regulation.
• Knowledge of databases and systems for model inventory management.
• Experience in interacting with model validators or internal auditors.
• Experience in writing policies and procedures.