Manager - Model Risk Management
Company: Stifel Financial Corp
Location: Saint Louis
Posted on: June 26, 2022
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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.
Keywords: Stifel Financial Corp, St. Louis , Manager - Model Risk Management, Executive , Saint Louis, Missouri
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