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Metropolitan Commercial Bank · 3 days ago

VP Model Risk Management

NYC Metro Area

Full-time

Hybrid

Senior Level, Lead/Staff

$200K/yr - $230K/yr

8+ years exp

Metropolitan Commercial Bank is a full-service commercial bank based in New York City, providing a range of banking products and services. They are seeking a Vice President Model Risk Manager to develop and enhance the Bank’s Model Risk Management framework while ensuring compliance with regulatory guidance and overseeing the governance and validation of models used across the Bank.

BankingBusiness DevelopmentCommercial

Responsibilities

Support and enhance the Bank’s Model Risk Management policy, procedures, and control framework

Maintain a comprehensive model inventory, ensuring accuracy, completeness, and appropriate model tiering

Oversee and lead model lifecycle governance, including development, implementation, use, monitoring, and retirement

Ensure full compliance with SR 11-7, CECL, and other regulatory guidance

Conduct independent validations of models, including BSA/AML, CECL/ALLL, Credit, ALM, stress testing, market risk, and liquidity models

Assess conceptual soundness, input data integrity, methodology, and performance monitoring

Challenge assumptions, limitations, and use cases of models, and provide recommendations for remediation

Document validation results and present findings to senior management, committees, and regulators

Design and implement data quality processes to support reliable model inputs and outputs, and data used across MRM reporting

Establish controls for data accuracy, completeness, timeliness, and reconciliation across model datasets

Develop Power BI dashboards and automated reports to track model performance, issues, and usage

Support regulatory and management reporting through clear, visual, and actionable insights

Execute ongoing model performance monitoring plans, including back-testing and benchmarking

Track and manage model risk issues, findings, and remediation efforts

Provide regular reporting on model risk metrics, emerging trends, and validation progress

Partner with business units, finance, risk, audit, and IT to ensure models meet business and regulatory needs

Provide training and guidance to model owners and users on governance and data quality requirements

Support Internal Audit and regulatory examinations related to model risk

Continuously review and enhance risk management processes, tools, and methodologies to adapt to evolving business environments and emerging risks

Provide training and guidance to employees on risk management with the best practices and procedures

Seek opportunities to leverage technology solutions for improving Enterprise Risk Management practices

Other Duties as Assigned

Qualification

Model Risk ManagementRegulatory ComplianceData Quality FrameworksStatistical ProgrammingPower BIQuantitative Risk AnalysisModel ValidationAnalytical SkillsCommunication SkillsDetail-orientedDecision-making Skills

Required

Master's degree in Finance, Economics, Statistics, Mathematics, Data Science, or related field (PhD or CFA/FRM preferred)

8+ years of relevant experience in model risk management, validation, or quantitative risk within a bank or consulting firm

Knowledge of banking regulations and regulatory frameworks, including but not limited to Basel III, Dodd-Frank Act, BSA/AML, and consumer protection laws. Knowledge of requirements for banks exceeding the $10 billion asset threshold

Experience with CECL, ALM, stress testing, and other regulatory/decision-support models

Strong knowledge of data quality frameworks and their application in risk management

Knowledge of Federal Reserve, New York State Department of Financial Services and Consumer Financial Protection Bureau rules and regulations

Strong analytical skills with the ability to interpret emerging risks and issues, and trends in Key Risk Indicator data in order to escalate any negative trends to senior management

Proficiency in statistical/programming tools (Python, R, SAS, SQL, MATLAB)

Strong skills in Power BI (reporting, dashboards, DAX, data modeling)

Experience in data governance, lineage, and data quality assessment

Detail-oriented and organized, with the ability to manage multiple priorities and deadlines in a fast-paced environment

Sound judgment and decision-making skills, with the ability to balance regulatory requirements with business objectives and risk considerations