Old National Bank · 2 days ago
Model Risk Manager
Evansville, IN
Full-time
Onsite
Mid, Senior Level
$128K/yr - $259K/yr
5+ years expOld National Bank is a regional powerhouse serving clients and communities since 1834. The Model Risk Manager will oversee all aspects of model risk including governance, validation, and performance monitoring, while collaborating with various stakeholders to ensure effective model management across the enterprise.
BankingFinancial ServicesWealth Management
Responsibilities
Lead the independent Validation of all corporate risk models, including credit risk (PD, LGD), forecasting, compliance and operational risk models, and other model types (including certain AI/ ML implementations). This also Includes performance the quality of model validations and oversight of any independent internal or external model validations
Effective challenge of the model conceptual soundness, assumptions, and appropriateness of model methodology
Model development data completeness and accuracy verification
Replication of the model estimates
Model testing including back-testing, sensitivity analysis, stress testing, and benchmarking
Review of the model implementation, verification of user acceptance testing
Preparation of comprehensive independent validation documentation
Coordination of independent validation projects and processes among multiple stakeholders. Participation in peer review processes for model development and validation
Participation in periodic model monitoring and maintenance review
Ongoing improvement of business acumen including knowledge of regulatory guidance, relevant research, risk technology, and financial services industry
Development of strong business relationships with key business partners
Develop, maintain and follow independent model validation standards and procedures. Interpret model validation test results and establish required action plans with model owners/developers and provide value-added recommendations to model owners/developers
Proactively identify emerging model risk issues impacting the Company in relation to the Bank’s risk appetite and communicate to model developers, senior management and Committees as needed
Support and monitor the model issues management process
Maintain current/develop new analytical reports and presentations for senior management, executive committees and regulatory exams
Collaboration with data warehouse and/or model development departments
Development of training materials and resources for the team members involved in the model life cycle including model owners and developers. Ensure that team members are appropriately understanding of their roles and responsibilities
Provide oversight, direction and development to team of Model Risk Analyst(s)
Qualification
Required
Master's or PhD. in Business, Economics, Engineering, Statistics, Mathematics or an equivalent combination of education and work related experience
At least 5 years of experience in financial industry, audit, or functional equivalent
Statistical and econometric theory, logistic regression, linear regression, time series modeling, operations research, and scenario based simulations
Working knowledge of generative AI and machine learning methodologies
Model development and implementation procedures
Capabilities and knowledge of R, Python, SAS or other statistical software
Capabilities and knowledge of SQL
Project management and strong communication skills
Capacity to cope with a high degree of ambiguity and change
Ability to work both independently and as part of cross-functional teams
Capable of preparing and presenting reports to all audiences, including executives and boards
Demonstrated leadership abilities in a fast-paced work environment
Track record of being highly engaged with a hands-on management approach and lead-by-example style
Outstanding business acumen and analytical, problem solving, written and verbal communication skills
Possess strong interpersonal skills, customer- and team-oriented
Ability to read, analyze and interpret governmental laws, regulations and regulatory guidance
Demonstrates conceptual thinking and analytical skills
Advanced problem-solving skills with the ability to define problems, analyze the variables and propose solutions
Strong leadership skills with supervisory experience, strong interpersonal skills and seasoned risk management professional
Required competency with Microsoft Office Suite
Benefits
Medical, dental, and vision insurance
401K
Continuing education opportunities
Employee assistance program
Company
Old National Bank
Old National Bank is a regional bank providing you with additional provides account choices, expanded convenience, and greater control.
1001-5000 employees
H1B Sponsorship
Old National Bank has a track record of offering H1B sponsorships. Please note that this does not
guarantee sponsorship for this specific role. Below presents additional info for your
reference. (Data Powered by US Department of Labor)
Distribution of Different Job Fields Receiving Sponsorship
Represents job field similar to this job
Trends of Total Sponsorships
2025 (4)
2024 (5)
2023 (5)
2022 (5)
2020 (1)
Funding
Current Stage
Public CompanyTotal Funding
$400M2024-11-25Post Ipo Equity· $400M
1984-12-04IPO
Leadership Team
James Sandgren
CEO - Commercial Banking
Timothy Burke
President & Chief Operating Officer
Recent News
2026-01-03
Company data provided by crunchbase