Model Risk Governance Program Manager

At Barings, we are as invested in our associates as we are in our clients. We recognize those who work diligently for us and reward them for personal and professional integrity, communication skills, distinct competencies and expertise in specific strategies, ability to collaborate as a team member and true dedication to the interests of our clients.

We thank you for your interest in joining the Barings team, and invite you to explore our current employment opportunities.

Title: Model Risk Governance Program Manager

Business Unit: Organizational Risk

Location: Charlotte, NC or Boston, MA or London, UK

Barings is a leading global financial services firm dedicated to meeting the evolving investment and capital needs of our clients and customers. Through active asset management and direct origination, we provide innovative solutions and access to differentiated opportunities across public and private capital markets. A subsidiary of MassMutual, Barings maintains a strong global presence with business and investment professionals located across North America, Europe, and Asia Pacific.

Job Summary

The Model Risk Governance Program Manager will utilize their extensive knowledge and skills to collaborate with business partners including model developers, owners and users throughout the enterprise to ensure adherence to model governance standards and policies. This will include working with the model owners in risk ranking of individual models, reviewing model documentation, validation, and review testing evidence against the general standards based on the model’s assessed level of risk. The successful candidate will apply their knowledge and experience of statistical and quantitative investment models to quantify, analyze and report model risk, using model risk measures to inform model governance and model risk management actions.

In conjunction with the Global Head of Organizational Risk and the CRO, the Analyst will oversee Barings’ Model Risk Management Framework, including the oversight of End-User Developed applications across Barings. The successful candidate will have experience in developing and maintaining a risk-ranked enterprise inventory of models and End-User developed applications,

The successful candidate will be able to make an assessments of risk relative to the conceptual soundness of a model based on the complexity of the model and the level of mitigation in the form of review, validation, input data controls, model sensitivities, testing and design, as well as the effective use of change management and access controls.

Primary Responsibilities

Works with business partners in the development and maintenance of a risk-ranked inventory for models and end-user developed applications.

Ensures the model governance policy is reflective of current best practice standards and guidance from regulators, and carries out regular policy conformance reviews.

Designs and ensures delivery of ongoing training and education and risk awareness programs on model risk management and governance and best practices and general standards for End-User development.

Reviews risk self-assessments of individual models and provides constructive challenge and feedback where needed to model owners.

Performs Enterprise Risk Assessments to estimate model risk exposure at the enterprise level which can be used to inform mitigation and treatment decisions and actions.

Provides constructive and informative reports to various stakeholders and leadership with recommendations for actions to address model risk and policy conformance.

Collaborates with business partners to incorporate or enhance model risk management techniques in standard model development or maintenance processes.

Qualifications

In-depth understanding of Model Risk Management Governance and best practices with applied experience.

Advance knowledge of end user development using Excel. Knowledge in Matlab, Python, R and other common development tools used by modelers and end users is highly desirable.

Professional knowledge of finance & financial analysis, financial markets and products.

Knowledge leveraging technology and automation to manage model and end-user development risk, including the use of Governance, Risk, and Compliance (GRC) solutions.

Translating Model Risk Management and Governance best practices into practical action oriented recommendations.

Conducting formal Risk Assessments, particularly with respect to model risk

Analysis of calculation and conceptual soundness of both models and End-User developed calculation processes.

Competence in reviewing the model owner’s assessment of risk exposure based on model use and assessing priorities for deeper dive reviews and treatments.

Demonstrated experience in communicating/presenting complex and independent concepts and unbiased fact-based assessments.

Demonstrated experience, using quantitative analysis techniques, in developing complex data sets for wide-spread use.

Coding skills highly desirable particularly in Excel, Matlab, Python and R.

Bachelor’s Degree in related area of study.

A minimum of 3 to 5 years of experience in Model Risk Management & Governance, with 7 or more years of experience preferred.

Chartered Financial Engineer, CQA, or completion of relevant programs or certifications are a plus.

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Barings is an Equal Employment Opportunity employer; Minority/Female/Age/Sexual Orientation/Gender Identity/Individual with Disability/Protected Veteran. We welcome all persons to apply.

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