Model Risk Management Officer

As part of its Digital Transformation journey, First Hawaiian Bank aims to continuously improve its range of data-driven financial guidance and digital services for its customers and digitize and streamline its operations and reporting. To support the execution of this strategy and address the associated legal, regulatory, and operational risks, the Analytics Risk Management team collaborates with various business units across the Bank and plays a pivotal role in ensuring the accuracy, reliability and compliance of our financial and non-financial models, including those leveraging AI and advanced analytics. 

First Hawaiian Bank is currently seeking a Model Risk Management Officer to join our Analytics Risk Management team. As a member of the Analytics Risk Management team, the Model Risk Management Officer will be responsible for contributing to the development and implementation of comprehensive model risk management strategies, policies, and procedures. This role will involve collaborating closely with various departments and data scientists to provide expert advice, develop and implement data-driven decisioning frameworks, perform rigorous and independent oversight, and drive continuous improvement in model risk management practices. 

The successful candidate will be hired for the level of the position that aligns with their experience.

Hybrid option may be available for this position. 
 

Key Responsibilities:

1. Advisory:
   • Provides subject matter expertise to business units regarding model risk management, including model validation, governance and control
   • Advises stakeholders on the identification, assessment, and mitigation of model risks across the bank's various functions and operations
   • Offers guidance on appropriate model usage, limitations, assumptions and controls to ensure informed decision-making
     
      
2. Oversight:
   • Supports the execution of model validation activities, ensuring the accuracy and appropriateness of model methodologies, data and assumptions
   • Conducts thorough reviews of model documentation, validation reports, and other relevant materials to assess compliance with established policies and standards
   • Collaborates with internal audit and compliance teams to facilitate audits and assessments related to model risk management
   • Maintains the Bank's model inventory and engage with the Lines of Business to ensure it is complete and accurate
   • Collects risk and performance indicators, perform and document quantitative analysis
   • Prepares management reporting materials
   • Administers the Bank's governance, Risk and Compliance (GRC) tool
     
      
3. Policy Making:
   • Participates in the formulation and enhancement of model risk management policies, standards and procedures
   • Stays current with industry best practices, regulatory requirements, and evolving standards related to model risk management
   • Collaborates with cross-functional teams to ensure alignment of policies with the bank's risk appetite and strategic objectives
     
      
4. Continuous improvement:
   • Identifies opportunities to enhance model risk management practices through process optimization, technology adoption and data-driven insights
   • Leads initiatives to enhance model governance, validation methodologies and risk assessment techniques
   • Develops and delivers training programs to promote awareness of model risk management principles across the organization 

Work Schedule:
Monday through Friday 8:00AM to 5:00PM (hours may vary)

The ideal candidate will have:

• Bachelor’s degree in a quantitative field such as Finance, Mathematics, Economics, Statistics, or a related discipline is required
• Master’s degree in a quantitative field such as Finance, Mathematics, Economics, Statistics, or a related discipline is preferred
• 3 years of experience developing or validating models in the banking industry or related quantitative field required
• 2 years of experience coding in statistical software packages like Python, R or similar software packages used in model development and validation required
  Required experience may be obtained concurrently
• Experience with developing and implementing Machine Learning models
• Understanding of bank products and services
• Education and related work experience in developing or reviewing quantitative methods

Salary : $78,000 - $105,000