AVP, Analytics & Model Risk Governance

Job Description

Job Description

Merrick Bank employees share in our mission to delight our customers and empower underserved consumers to achieve their credit goals. In return, we delight our associates; ensuring they are noticed, heard, appreciated and understand the importance of their role(s). For over 20 years, our Guiding Principles of; doing the right thing, putting the customer first, and Earn, Learn, Have Fun (aka E.L.F.), have defined who we are as an Employer of Choice.

Give Yourself Credit, Work at Merrick!

The AVP (Analytics & Model Risk Governance) position is primarily responsible for model risk management of the bank, including performing formal model validations, maintaining governance documentation, presenting periodic reports to Merrick Bank(“Bank”) committees, and coordinating with third-party vendors to perform functions assigned. This position is responsible for managing a team of analytical professionals to support credit risk management functions. This position requires significant technical knowledge of empirical based model development, model attributes, model performance, databases, programming languages (SAS, SQL, Python, R), and advanced machine learning and statistical modeling techniques.

Essential Functions:

• Responsible for the Model Risk Management Policy, which includes regularly reviewing the policy to ensure compliance with regulatory expectations and industry best practice as well as ensuring bank-wide adherence.
• Responsible for the Bank’s Model Risk Management Framework, including appropriate standards, processes, and templates to ensure proper risk management and governance of all models.
• Provides technical expertise to various bank committees in the areas of model development standards for traditional statistical, predictive, machine learning, and artificial intelligence models.
• Performs and oversees model validation activities, including reviewing model use-case and development documents, performing review and independent analysis of model development, implementation, and use.
• Documents effective challenge, compiles model governance artifacts, and presents findings and recommendations to Bank committees; ensures proper and timely reporting of model performance monitoring.
• Leads and mentors model risk team members in performing model validation activities, and conducting credit risk management analysis and reporting.
• Compliance with Laws & Regulations:
  • Responsible for complying with all of the Bank’s internal control policies and procedures.
  • Responsible for understanding and complying with all laws and regulations to which the Bank is subject.
  • Responsible for communicating problems in operations, noncompliance with the code of conduct, noncompliance with laws and regulations, policy violations, or illegal acts.
  • Develop presentations and ongoing communications for Risk Management Committees.
  • Support the maintenance of the model inventory, model control standards, and model risk ranking.

Education and Experience:

• Bachelor's Degree is required.
• Master's Degree in a quantitative discipline is preferred.
• Seven (7) years’ experience in accounting, financial analysis, statistical credit modeling or public accounting experience is required.

Summary of

Qualifications:

• Ability to communicate and present ideas and concepts clearly to senior leadership and business lines required
• Experience and working knowledge of statistics, machine learning, predictive analytics, and artificial intelligence
• Experience and working knowledge of programming languages such as SAS, R, Python, etc. preferred
• Excellent organization skills, problem solving and interpersonal communication skills.
• Must be a self-starter and have the ability to work independently

We offer a total rewards package comprised of a competitive base rate of pay, variable pay incentive programs based on the role, and a comprehensive benefit suite. Offered rates of pay are determined based on job-related knowledge, relevant experience, skills, certifications, and geographic location. Our benefits offerings include medical, dental, vision, life insurance, 401(k) plan with company match, paid vacation time, sick time, as well as other benefits and programs to meet the needs of our employees.

Further details will be shared during the interview or offer process, as appropriate and applicable.

We are an equal opportunity employer, and we evaluate qualified applicants without regard to race, color, religion, sex, national origin, disability, veteran status or any other legally protected characteristic. We will conduct a thorough background check for all hires in compliance with applicable law which includes (but may not be limited to) a review of factors including drug testing and employment/personal references.