Head of Scenario Design Model Validation - Director (Hybrid)

The Model / Anlys / Valid Sr Group Mgr role resides in Citis Global Model Risk Management (MRM) group and manages a team of highly specialized and quantitative professionals.

The job requires a broad and comprehensive understanding of the different theories and practices relevant to the Model Risk Management function.

In-depth knowledge of the industry and relevant regulatory requirements are necessary in order to contribute to the risk control and commercial objectives of the function.

Requires thorough understanding of strategic direction of the function within the firm, combined with a solid conceptual / practical grounding in both the function and the underlying business areas.

Excellent communication skills are required in order to influence a wide range of audiences. The job involves both internal and external negotiations which will have a major impact on the areas managed, and possibly on other related areas and organization as a whole.

Develops short, medium and long-term plans and executes functional strategies for a large and complex group and functional areas.

Full management responsibilities including management of people, budget and projects. Has authority to negotiate and make independent decisions on issues / activities that have critical impact or influence on companys risk management and business operations.

Responsibilities :

• Manages the model validation team responsible for model validation and other Model Risk Management activities for models used for Scenario Design across the firm for a wide range of critical business and regulatory processes including CCAR, DFAST, ICAAP, CECL, IFRS 9, internal stress testing and more
• Represent Citi MRM for MRM related engagement for Scenario Design models in the discussions with global regulators and internal / external auditors
• Represent MRM and provide model risk subject matter expertise on various committees, councils and forums within risk and other business / function areas
• Drive compliance across the organization with Citi policies, applicable laws, rules and regulations. Implement requirements and standards of Citi Model Risk Management framework and manage related reporting
• Ensure that all MRM deliverables, including model validation, MRM review of models overlay, annual model review, ongoing performance monitoring, limitation remediation, are met timely in accordance with the requirements and standards of the MRM framework
• Develop and execute strategies and cross-functional initiatives within the organization, build strong relationship with stakeholders, overcome challenges and drive impact
• Communicate model risk control issues timely with stakeholders and senior management with transparency and drive compliance with Citi Model Risk Management Policy across the firm
• Create a diverse and inclusive environment enabling employees to be the best

Qualifications :

10+ years of relevant experience (model validation / development / business / risk management / finance etc.) in professional and / or academia environments related to quantitative modeling for the financial industry.

Experience in Scenario Design / Expansion and stress testing highly preferrable

• Familiar with global regulations, standards and industry practices related to quantitative modeling, risk management and stress testing, in particular CCAR, DFAST, ICAAP, CECL, IFRS 9
• Strong quantitative analytics skills, especially in statistical modeling. Outstanding ability to define and solve difficult or complex problems, generate alternative solutions, evaluate and make optimal selection, implement and follow up on the solution, and handle highly complex escalated matters
• Demonstrated ability to assess complex issues through root cause analysis and other analytical techniques; structure potential solutions;

form partnership with a broad range of senior stakeholders to drive resolution

• Highly motivated with attention to details, team oriented, organized
• Strong leadership skills, experience of managing a sizable group in model validation or model development areas. Demonstrated track record of effectively assessing and managing competing priorities, setting clear goals, providing effective supervision and guidance
• Ability to manage heavy workload under tight deadlines, find practical solutions to urgent requests, manage competing priorities and multiple stake holders
• Ability to interact and communicate effectively with senior leaders, a proactive and 'no surprises' approach in communicating issues and strength in sustaining independent views.

Effective negotiation skills

• Ability to influence and lead people across cultures at a senior level using sound judgment and successful execution, understanding how to operate effectively across diverse business and functional areas
• Outstanding skills in strengthening Risk & Controls and business performance and driving transformation in a financial institution.

Capable of fostering a strong and resilient culture that prioritizes excellence and accountability

Education

Advanced degree preferred in statistics, mathematics, operations research, science, engineering, economics, finance disciplines

Job Family Group : Risk Management

Risk Management

Job Family :

Risk Analytics, Modeling, and Validation

Time Type : Full time

Full time

Primary Location :

Long Island City New York United States

Primary Location Full Time Salary Range :

$170,000.00 - $300,000.00

In addition to salary, Citis offerings may also include, for eligible employees, discretionary and formulaic incentive and retention awards.

Citi offers competitive employee benefits, including : medical, dental & vision coverage; 401(k); life, accident, and disability insurance;

and wellness programs. Citi also offers paid time off packages, including planned time off (vacation), unplanned time off (sick leave), and paid holidays.

For additional information regarding Citi employee benefits, please visit citibenefits.com. Available offerings may vary by jurisdiction, job level, and date of hire.

Anticipated Posting Close Date :

Sep 19, 2024

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