Talent.com
Director, Model Risk Management
Director, Model Risk ManagementFirst Merchants Bank • Daleville, IN, US
Director, Model Risk Management

Director, Model Risk Management

First Merchants Bank • Daleville, IN, US
job_description.job_card.30_days_ago
serp_jobs.job_preview.job_type
  • serp_jobs.job_card.full_time
job_description.job_card.job_description

Job Description

Job Description

First Merchants Bank is seeking a Director, Model Risk Management to join our team! The Director of Model Risk Management (MRM) leads the enterprise-wide Model Risk Management program, ensuring robust governance, regulatory compliance (SR 11-7, OCC 2011-12), and credible challenge across all model-related activities. This role aligns model risk strategy with business growth, digital transformation, and AI / ML adoption. Additional responsibilities include oversight of internal model reviews, third-party validations relationships, contributions to strategic planning and merger and acquisition (M&A) due diligence.

Essential Duties & Responsibilities :

  • Program Leadership & Governance

Design, implement, and continuously enhance the Model Risk Management program, including frameworks, policies, procedures, standards, and technology tools.

  • Ensure the MRM program is appropriately scaled to the bank’s size, complexity, and risk profile.
  • Align the enterprise-wide model risk strategy with business growth objectives, digital transformation initiatives, and the adoption of artificial ineligence (AI) technologies.
  • Lead the development and execution of the annual MRM plan, including budgeting, scheduling, and resource allocation for validations, reviews, and performance monitoring.
  • Own and maintain the enterprise model risk dashboard, including the definition and tracking of key performance indicators (KPIs) for model performance, validation quality, and risk mitigation.
  • Participate in strategic planning and M&A due diligence activities, providing model risk insights to support enterprise-level decision-making.
  • Third-Party Validation Oversight

    • Manage second-line vendor relationships for model validation, including proposals, statements of work, quality control, and payment processing.

  • Conduct due diligence and risk assessments of third-party validators in alignment with the bank’s third-party risk management framework.
  • Internal Review & Challenge

    • Apply risk-based judgment to evaluate model appropriateness, complexity, and potential impact on business decisions, and determine the level of validation required.

  • Oversee annual internal reviews of all models, ensuring performance monitoring, documentation updates, and issue remediation are completed timely and effectively.
  • Provide independent challenge to model owners and users, ensuring model use is appropriate and risks are well understood.
  • Reporting & Regulatory Engagement

    • Serve as primary liaison with regulators on model risk topics, including emerging regulatory trends (e.g., AI governance, climate risk modeling).

  • Monitor emerging model risks and ensure timely escalation and mitigation.
  • Stakeholder Collaboration

    • Partner with business lines, support functions, model users, and external experts to ensure models meet quality standards and regulatory expectations.

  • Facilitate onboarding, testing, documentation, and offboarding of models using sound analytical methodologies.
  • Team Leadership

    • Develop and sustain a model risk talent pipeline, including internships, rotational programs, and succession planning.

  • Foster a culture of proactive risk management and continuous improvement.
  • Committee Participation

    • Serve as a member of key risk committees, including but not limited to : Operational Risk Committee, Asset Liability Committee, Credit Policy Management Committee, and Enterprise Risk Management (ERM) Committee.

  • Continuous Improvement

    • Reassess the maturity and effectiveness of the MRM program through peer benchmarking, ongoing education, and regulatory feedback.

  • Conduct ad-hoc risk analyses as requested by the Chief Risk Officer or ERM Committee.

    • To be successful in this position, we require the following :

  • Bachelor’s degree in business, risk management, economics, law, mathematics, statistics, or a related field.
  • A minimum of seven (7) years of experience in model governance, validation, performance monitoring, and regulatory compliance (e.g., SR 11-7, OCC 2011-12).
  • A minimum of ten (10) years of banking experience, with demonstrated exposure to risk management, model governance, or related disciplines across multiple lines of business.

    • The following would be a plus :

  • Master’s degree in a quantitative or risk-related discipline.
  • Over ten (10) years of experience in model risk management, including having led or significantly contributed to a mature MRM program.
  • Over ten (10) years of banking experience within mid-to-large size institutions, including direct involvement in enterprise risk, regulatory engagement, and strategic planning.

    • First Merchants offers the following :

  • Base Pay PLUS Bonuses
  • Medical, Dental and Vision Insurance
  • 401k
  • Health Savings and Flexible Spending Accounts
  • Vacation / Sick Time
  • Paid Holidays
  • Paid Parental Leave
  • Tuition Reimbursement
  • Additional Benefits

    • A little about us :

    First Merchants is guided by a genuine philosophy of being a meaningful place to work and having a prosperous impact across all walks of life throughout the communities we serve, including consumers, businesses and other organizations. Our Vision, Mission and Team statement reflect and reinforce that authentic service philosophy.

    Our Vision is :

    To enhance the financial wellness of the diverse communities we serve.

    Our Mission is :

    To be the most responsive, knowledgeable, and high-performing financial organization for our clients, teammates, and shareholders.

    Our Team :

    "We are a collection of dynamic colleagues with diverse experiences and perspectives who share a passion for positively impacting lives. We are genuinely committed to attracting and engaging teammates of diverse backgrounds. We believe in the power of inclusion and belonging."

    Apply today to begin your career with us!

    serp_jobs.job_alerts.create_a_job

    Director Risk Management • Daleville, IN, US