Manager - Model Risk Management

Company: Stifel Financial Corp
Location: Saint Louis
Posted on: June 26, 2022

Job Description:

The Model Risk Management Manager will play an active role in performing governance and independent reviews of the Firm's models and non-models (e.g., EUCs, Tools, etc.) where applicable. The Manager is responsible for multiple aspects of model risk governance applicable to Stifel and its subsidiaries. This person is responsible for helping ensure that all aspects of the model's lifecycle are in compliance with regulations, and internal policies and procedures.Essential Duties and ResponsibilitiesManage and maintain firm wide model inventories (i.e., active models, pending models, decommissioned models) and as well as non-model inventories (e.g., tools, databases, EUCs) and ensure that these inventories are periodically affirmed by the respective Model Owner and/or BURMEnsure change control logs / model release notes are obtained from Model Owners on a periodic basis for review and assessment with MRM DirectorRemain proactive in keeping abreast of regulatory expectations related to model risk management including but not limited to SR11-7/SR15-18/OCC 2021-39/CECL as well as industry practices that may affect specific models and potentially impact both firmwide and individual model governance and risk, including potential updates to the firmwide Model Risk Management Policies and ProceduresReview and obtain support for ongoing performance monitoring activities performed by Model Owners and report observations to MRM DirectorAssist with the annual model risk assessment process to ensure that the assessment of each model is effectively challenged and formally documentedReview model documentation to ensure consistency across business lines and throughout the Firm and that updates are performed at least annually, where applicableWhere applicable, support the maintenance and execution of model validation and review processes by scheduling meetings and acting as main contact for interactions between the Model Owner and external Model Validators, including remediation of model validation observations as well as review and maintain support for the closure of observationsAssist with preparing the appropriate level of reporting for BURMs, ERM Managing Director, Operational Risk Committee, Risk Management Committee, and other ad-hoc reporting as neededAssist with the remediation of any internal audit and/or regulatory MRM findings prior to due date which may include developing an action planQualificationsStrong knowledge of regulatory requirements related to model risk management including but not limited to SR11-7/SR15-18/OCC 2021-39/CECLAbility to perform model validations in accordance with model risk regulations (e.g. FRB SR 11-7, etc.) within established timelines, when applicable.Ability to effectively challenge the model methodology and/or results based on understanding of the industry and leading practices.Ability to work both independently and in a team-orientated, collaborative environment is essentialStrong conceptual and quantitative problem-solving skills and demonstrated curiosity in researching and evaluating issues and potential resolutionsAbility to multi-task and execute tasks effectively in a high profile and high-pressure environment is crucialStrong interpersonal and communication skillsEducation and ExperienceMinimum Required: Bachelor's degree in Finance, Accounting, Economics, Statistics, Mathematics, Computer Science, or a Business/Finance related discipline.Minimum Required: 7+ years' experience in the Risk Management/Analytics division in large banks and/or tier 1 consulting organizations, captive finance companiesLicenses and CredentialsMinimum Required: NoneSystems and TechnologyProficient in Microsoft Excel, Word, PowerPoint, OutlookExpertise is one programming language (i.e., SAS, R, Python)Sound knowledge of various simulation techniques (i.e., Monte Carlo Simulation, discrete event, continuous event, etc.)**The ideal candidate is preferred to be local to the St. Louis, MO, Baltimore, MD, or New York, NY area**About StifelEstablished in 1890, Stifel is one of the nation's leading full-service wealth management and investment banking firms. Stifel serves clients from more than 400 offices across the United States and ranks as the nation's seventh largest full-service investment firm in terms of number of financial advisors. We are also a leading provider of investment banking services to the middle market, a top-ten municipal bond underwriter, and home to one of the industry's largest research franchises. In addition our Stifel Bank subsidiary provides a comprehensive range of banking services.At Stifel we offer an entrepreneurial environment, comprehensive benefits package to include health, dental and vision care, 401k, wellness initiatives, life insurance, and paid time off.Stifel is an Equal Opportunity Employer.

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