What are the responsibilities and job description for the Model Risk Officer position at Comerica Bank?
Model Risk Officer
This position is responsible for supporting ongoing assessment of the model risk management framework with respect to regulatory guidelines and expectations. Functional responsibilities include Ensuring effective challenge of models, evaluating model results through independent testing; managing prioritization, scope and frequency of validation activities; Evaluating model risk by highlighting the impact of potential deficiencies and weaknesses in model usage; Reporting key findings and limitations to Model Validation Manager. Experience with the validation of AI, ML or Cybersecurity models is a strong advantage.
Position Responsibilities:
Independent Model Validation:
- Responsible for developing validation plans to thoroughly determine if credit models are acceptable for their intended purposes according to the standards set forth by SR 11-7. This plan will include the conducting of independent model testing, evaluation of conceptual soundness and developmental evidence, checking the model's accuracy, demonstrating that the model is robust and stable, assessing potential limitations, and evaluating the model's behavior over a range of input values.
- All activities necessary to identify the key risks of the model and its mitigants should be identified and performed.
- Utilize business knowledge to determine assumptions relevance, and the acceptability of documentation especially where management judgment is used.
Model Risk Governance and Reporting:
- Responsible for reporting model development, implementation, use, independent validation and controls.
- Responsible for assisting in the functioning of the Model Risk Oversight Committee that will oversee adherence to regulatory guidelines and the internal policy for model risk management and model validation through accurately recording validation activities in the SAS MRM system.
Position Competencies
- Strong quantitative analysis skills
- Ability to challenge financial concepts
- Ability to think financially, understand the consequence of the decisions and react to those consequences
- Ability, and the desire, to work independently and have a proven track record in getting the "job done"
- Maintain a high sense of urgency
- Ability to distinguish between tactical and strategic initiatives
- Very strong PC computer and modeling skills
- Strong understanding of corporate wide systems applications
- Ability to recognize industry and business unit issues and trends
Position Qualifications
- Master's Degree From an accredited university in a quantitative field such as statistics, economics, quantitative finance, econometrics, applied mathematics, engineering
- 2 years Performing high level financial analysis, particularly as it applies to the financial services industry
- 2 years Hands on experience in PC based financial modeling
- 2 years project Management
8:00am - 5:00pm Monday - Friday
Comerica is proud to be an Equal Opportunity Employer - veterans/individuals with disabilities, committed to workplace diversity.
Model Risk Senior Consultant
Crowe -
Dallas, TX
Model Risk Management - Dallas
The Goldman Sachs Group -
Dallas, TX
Model/Analysis/Validation Officer
Citigroup Inc -
Irving, TX
