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Director - ICG Risk Management Regulatory Risk Sr. Group ManagerApply Now Locations: New York, New York Job Function: Risk Management Employee Status: Regular Job ID: 19134142
The Regulatory Risk Sr Grp Manager is accountable for management of complex/critical/large professional disciplinary areas. Leads and directs a team of professionals. Requires a comprehensive understanding of multiple areas within a function and how they interact in order to achieve the objectives of the function. Applies in-depth understanding of the business impact of technical contributions. Strong commercial awareness is a necessity. Generally accountable for delivery of a full range of services to one or more businesses/ geographic regions. Excellent communication skills required in order to negotiate internally, often at a senior level. Some external communication may be necessary. Accountable for the end results of an area. Exercises control over resources, policy formulation and planning. Primarily affects a sub-function. Involved in short- to medium-term planning of actions and resources for own area. Full management responsibility of a team or multiple teams, including management of people, budget and planning, to include performance evaluation, compensation, hiring, disciplinary actions and terminations and budget approval.
The primary responsibility for this position are:
- Provide guidance on the model functional soundness and oversight to the model development activities of the Wholesale businesses including CECL, IFRS9, CCAR etc.
- Engage ongoing with the Model Developers and Business to evaluate assumptions and approach.
- Review ongoing technical and functional recommendations from Model Developers and provide feedback before submission
- Perform and document review and challenge of fitness for purpose (e.g., relevance and completeness of model inputs, appropriateness of technique, confirmation of required outputs) of new/redeveloped models
- Engage modelers on review of model performance as per Model Risk Management policy
- Escalate issues, present validation findings, and make recommendations for model overlays to credit reserve adequacy meeting and senior governance group.
- Leadership is required during regulatory reviews, which consists of but is not limited to answering regulator’s questions, creating presentations, writing formal responses, reviewing supporting documentation, and providing guidance for data analysis.
The position involves delivering the highly visible regulatory projects. The position requires the ability to work closely with modeling teams, model risk management and senior advisory and governance bodies.
The core strengths required for this position include but are not limited to:
- The individual should be proactive, organized, flexible and team-oriented
- Serves as a subject matter expert on model functional soundness, assumption review and fit for purpose, benchmarking approaches
- Solid understanding of regulatory landscape, and impacts on Wholesale
- Ability to manage fast-paced environment with strong attention to detail and ability to multi-task
- Excellent written and verbal communication skills including the ability to effectively present to senior management as well as to regulators
- Ability to facilitate discussions, lead group meetings, and drive projects to timely conclusion
- Ability to work with data and produce analysis for management decisions
- Ability to understand highly technical modeling approaches
- Self-starter who can work without detailed oversight and provide guidance to teams
- Excellent technical proficiency in MS Excel, MS PowerPoint, and MS Word. Advanced data analytical skill such as MS Access, SAS, R and SQL is a plus
- 10-15 years financial services industry experience. Wholesale Risk background is preferred
- Bachelor’s degree at minimum, advanced degree is a plus
- Bachelor’s/University degree, Master’s degree preferred
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