Enterprise Risk Management Department-Model Risk Management AVP

Introduction

Established in 1912, Bank of China is one of the largest banks in the world, with over $3 trillion in assets and a footprint that spans more than 60 countries and regions. Our long-term outlook, institutional weight and global breadth provide our clients with a stable and reliable financial partner, whether in Corporate or Personal Banking or our Trade Services, Commodities, Financial Institutions and Global Markets lines of business.

Overview

The job is an AVP role in Model Risk Management team, which requires understanding of model risk management framework and regulatory requirements. The role supports the team to implement and enhance the model risk management framework including carrying out model risk governance activities and performing independent model validation. This role will also get exposure to End User Computing (EUC) control framework implementation. This role executes certain tasks around model risk governance, conduct, add business values in model validation process, and contribute in EUC control process as well.

Responsibilities

Model Validation

• Drive and support the improvement on model risk management policy, procedure, and standards
• Implement the activities defined in model risk management framework and ensures that the Bank’s model risk management framework continues to align with regulatory expectations and proactively enhance the internal BAU process
• Maintain model inventory and conduct annual model review/attestation processes
• Facilitate the bank wide model risk related activities e.g. risk assessment in new product launching, model risk aggregation/assessment and model risk management trainings to internal stakeholders

EUC Control

• Contribute in EUC control framework maintenance, execution and enhancement
• Collaborate will relevant stakeholders to carry out the activities defined in EUC control framework
• Drive the implementation and enhancements of EUC control in the Bank

Model Validation

• Collaborate with all internal stakeholders and perform as the 2nd line of defense for model Risk
• Conduct or support the independent model validation for models defined in the model inventory and produce model validation reports
• Coordinate the remediation of model validation findings and provide guidance of the finding owners
• Communicate with model developers/owner/users and senior management regarding validation findings and remediation activities

Qualifications

• Bachelor’s degree required. Master’s degree in Financial Engineering, Mathematics, Statistics or Computer Science major preferred
• Minimum 5 years of Model risk management experience
• Demonstrate strong analytical and quantitative skills to understand and  validate models effectively  
• Demonstrate knowledge of SR11-7, supervisory guidance on model risk management, and other relevant banking regulations from regulators including OCC and FRBSpecialty in credit risk models and compliance models preferredFRM or CFA preferred

Pay Range

Actual salary is commensurate with candidate’s relevant years of experience, skillset, education and other qualifications.

Salary : $150,000