Model Risk Control Manager Job Vacancy in DataAxxis New York, NY 10010 – Latest Jobs in New York, NY 10010
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Company Name : DataAxxis
Location : New York, NY 10010
Position : Model Risk Control Manager
Job Description : Location: midtown NYC – Hybrid Work ScheduleLength: 1+ yearRate $650 W2 / $730 C2C or 1099 based on 9-hour dayBenefits are available for W2 consultantsDescription: Team DescriptionThe team is responsible for our model risk management approach, including model governance and maintaining compliance with the model risk policy. The team coordinates our model validation and reaffirmation processes, undertakes model performance monitoring, implements controls around model and data management, and develops and presents management information on model risk.RoleThe successful candidate will be part of the global Model Risk Control team. The role requires the applicant to have a good understanding of financial models and risk management and control approaches, with previous relevant experience at a similar institution. The candidate should also be able to manage and coordinate across multiple models and stakeholders and be comfortable presenting to senior management. This is an exciting and challenging opportunity for the successful candidate to drive the team’s strategy and shape the nature of our model risk control framework, making a significant impact in the organization which has undergone significant investment in these areas over the past year.Primary ResponsibilitiesThe successful candidate will have responsibilities for:The model governance process including responsibility for overseeing the model approval cycle from the submission of relevant documentation by the model owner to the approval process by the Model Governance Committee.Managing and coordinating the completion of actions arising from the model validation and approval process and ensure that they are addressed.Coordinating the ongoing model attestation and reaffirmation processes.Maintaining the global model inventory list, ensuring appropriate timelines for review are met according to the classification of each model as well as ensuring the on-going monitoring of conditions of use and compliance with any model restrictions.Developing metrics required for the effective understanding of model risk and controls, monitoring, and reporting appropriate MI with respect to model risk, and presenting to the Model Governance Committee.Establishing and maintaining process and controls for to test model performance and active monitoring.Working on enhancing the systems and processes, taking part in projects as required.Assisting with new business initiatives ensuring that relevant reporting (internal and external) can be implemented and maintained following the approval of new products/activities.Person SpecificationThe following skills and experience are required for this role:Educated to degree level ideally in a quantitative discipline.Previous experience in financial services, working in a model validation environment or within risk or finance.Knowledge of financial products including fixed income and equity products (cash and derivatives).Prior experience of model validation governance standards.Experience in MI development and setting.Good communication, presentational, and stakeholder management skills.Working and contributing within a team environment.Effective and confident communication of technical subject matter.Comfortable working in a dynamic, changing and ever evolving environment.Ability to work independently and assume responsibility for project deliverablesJob Types: Full-time, ContractPay: $650.00 – $730.00 per dayBenefits:Dental insuranceHealth insuranceVision insuranceSchedule:8 hour shiftMonday to FridayAbility to commute/relocate:New York, NY 10010: Reliably commute or planning to relocate before starting work (Required)Work Location: One location
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