MUFG Union Bank Model Risk Manager, Vice President in Los Angeles, California
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The Model Risk Manager within the Model Risk Management Unit is responsible for executing best-practice model validation activities consistent with the bank Model Governance Policy and ensuring business processes related to models are in compliance with applicable governance and policy requirements.
/Major Responsibilities: /
Independently validate ALM, investment portfolio, and PPNR models from Corporate Treasury, which will include an assessment of model conceptual soundness, evaluation of data and assumptions, testing model computational accuracy, and performing outcomes analysis (such as back-testing and benchmarking).
Document and present observations to manager of the Model Risk Management Unit and to model owners and users, recommend management action plans, and track remediation progress.
Monitor model performance reports on an on-going basis to ensure models remain valid.
Support the creation and maintenance of the enterprise-wide model inventory, model control standards, and model risk ranking. The models include those used within the various Business Units for supporting financial reporting, risk management, decision-making, Basel II risk weighted assets calculations, and economic capital estimation.
Typically requires an advanced degree in finance, economics, statistics or related field (Masters or PhD preferred). Industry certifications a plus (e.g., CFA, FRM).
5 years of experience within the financial services industry.
Proven track record of strong technical model development, model management, and/or model oversight in one or more of the following areas: credit risk management, market / interest rate risk management, economic capital estimation, and valuation.
Knowledgeable about model risk management and associated regulatory requirements such as OCC 2011-12 and Basel II.
Strong project management capabilities.
Excellent written communication skills.
The above statements are intended to describe the general nature and level of work being performed. They are not intended to be construed as an exhaustive list of all responsibilities, duties and skills required of personnel so classified.
We are proud to be an Equal Opportunity/Affirmative Action Employer and committed to leveraging the diverse backgrounds, perspectives and experience of our workforce to create opportunities for our colleagues and our business. We do not discriminate in employment decisions on the basis of any protected category.
A conviction is not an absolute bar to employment. Factors such as the age of the offense, evidence of rehabilitation, seriousness of violation, and job relatedness are considered in all employment decisions. Additionally, it’s the bank’s policy to only inquire into a candidate’s criminal history after an offer has been made. Federal law prohibits banks from employing individuals who have been convicted of, or received a pretrial diversion for, certain offenses.
Job: *Risk & Compliance
Title: Model Risk Manager, Vice President
Location: CALIFORNIA-Los Angeles
Requisition ID: 10010668-WD
Other Locations: CALIFORNIA-San Francisco, CALIFORNIA-Orange