The Federal Home Loan Bank of Indianapolis has an exciting opportunity for a highly motivated individual to join the model risk management team. As a direct report to the Director of Model Risk Management and Validation, the incumbent of this position is responsible for leading the management of risk through the model lifecycle at the bank to ensure model risk management activities are consistent with the bank's Model Risk Management Policy.
The following statements are intended to describe the general nature and level of work being performed by persons assigned to the job. They are not intended to be an exhaustive list of all responsibilities or abilities required of persons so classified. The Bank reserves the right to alter or amend this description at any time.
◾Leads identifying, managing, and mitigating the model risk through the model lifecycle.
◾Understands and interprets current regulatory guidance (specifically FHFA’s Model Risk Management Advisory Bulletin 2013-07), and able to translate guidance into bank- specific policies and procedures.
◾Designs the proactive model risk management framework including model risk governance, model risk appetite, model risk identification, assessment, monitoring and reporting, and mitigation.
◾Assists the Director of Model Risk Management and Validation in the maintenance of the Model Risk Management Policy, Model Risk Management Framework, and Model Risk Management Procedure.
◾Responsible for the execution of a model control framework to include: model documentation standards, security, change, and version controls, performance tracking, data integrity, and technical model development standards to achieve a structured, disciplined approach to model development, implementation and use.
◾Leads periodical model review and model performance review
◾Follows up on recommendations with the model owner to ensure that they have been remedied.
◾Reports model risk information through monthly reporting and committee meetings.
◾Identifies emerging model risk issues impacting the bank and communicates to model developers, senior management, and the bank Governance Committee.
◾Works with Model Validation Team in MRMG, provides expert insight into various modeling and model validation issues. Leads or participates in model validations.
◾Establishes required action plans with model owners/developer and provides value-added recommendations to model owners/developers.
◾Develops and maintains effective partnerships with the model developers, model owners, business level management teams, Internal Audit, and the Federal Housing Finance Agency to demonstrate the operational soundness and effectiveness of the model risk management program at the bank.
◾Leads, manages, and develops model risk management staff to ensure sound model management practice is conducted.
◾Conducts research and analysis to maintain knowledge of best practices in model risk management, and current financial market information.
◾An advanced degree with a concentration in Finance, Economics, Mathematics, Statistics, or some other quantitative discipline. A CFA and / or FRM designation is desirable.
◾Working knowledge of OCC 2011-12 and / or FHFA AB 2013-07 (regulatory guidance concerning model risk management).
◾At least three years’ experience in model risk management is required. Two plus years of experience leading model risk management and staff is preferred. Three plus years of experience in financial model validation is preferred.
◾Strong understanding of financial markets, asset-liability management, and profitability analysis.
◾Strong verbal and written communication skills including presentation skills and inter-personal skills.
◾Strong relationship management skills and the ability to effectively engage with multiple levels of the bank including Senior Management, Risk Related Committees, Working Groups, and Staff. Adept in working in a multi-faceted organization.
◾Demonstrated project and people management skills and the ability to work on multiple projects on a concurrent basis and meet deadlines.
◾Excel modeling and VBA programming experience is required. Other analysis/modeling skills, such as R, MATLAB, or @RISK, desirable.
◾Detail-oriented. Ability to assume complex assignments with minimal direction.
◾In-depth understanding of the conceptual framework and assumption for various type of financial models and how models use in business decision-making and the major impact on financial statement or risk measurement, etc.
◾Must not have been convicted of any civil or criminal charge that would suggest a risk to bank security.
◾Ability to work full time.
FHLBank INDIANAPOLIS is an Equal Opportunity Employer.