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Model Risk Management

Global Channel Management, Inc.
Chicago, Illinois, United States
April 16, 2019

Posted By Premium Recruiter


Model Risk Management needs 10+ years of experience in asset management, banking, or other financial sectors

Model Risk Management requires:

Model development, implementation and/or validation covering diverse areas including structured products

Graduate level knowledge of probability/statistics and models of financial theory and stochastic processes.

Proficiency in C, (C Matlab, SAS, other.

Familiarity with financial services models, such as Barclay’s Point, Moody’s, INTEX, and others.

Also proficient in Excel and VBA.

Archer or similar governance, risk, and compliance (GRC) system experience

Masters Degree in Financial Engineering or Mathematics require

PhD Financial Mathematics or a related field preferred

Model Risk Management duties:

Support model owners in the development, documentation, updating, testing and ongoing performance monitoring of new and changed models.

Responsible for a broad spectrum of Nuveen models including, but not limited to, asset allocation, performance, tracking error, cash flows, structured products and investment valuations used to support investment decisions and management processes.

Demonstrate and document theoretical and conceptual dependability, implementation, and suitability for model use, model limitations, and use of expert judgment.

Review and confirm proper controls are incorporated in the process.

Support the Model Risk Management validation process.

Work with model owners to resolve findings

Work with model owners to ensure compliance with ongoing Enterprise Model

Risk Management program requirements, including annual reviews and updated testing. If necessary, recommend the cessation of reliance on models that are proven to be inaccurate or outdated.

Interface with Enterprise Risk Management to deliver on Model Risk Management framework.

Develop process documentation and associated Standard Operating Procedures (SOPs) for the business.

Maintain model database.