Model Validation Officer

Description

Under the direction of the Director of Model Risk Management, this position helps ensure completion of independent validation of bank-wide models in accordance with the bank’s Model Risk Management Policy and in compliance with regulatory guidelines as set forth in SR 11-7 (Supervisory Guidance on Model Risk Management) and other applicable regulatory expectations. This role coordinates and conducts the validation of all Bank of Hawai‘i (BOH) models, provides input and guidance to the business units on compliance with the Model Risk Management Policy, issues validation reports that documents model validation findings and rating, and reports on validation status of models and key risk indicators to the Model Risk Management Committee.

Responsibilities

Manages and conducts model validations in compliance with SR 11-7 with a focus on continual improvement of bank wide models, ensuring that the rigor of planned model validations is commensurate with the level of model risk and potential urgency of bank needs.

Oversees, coordinates resources, and performs appropriate level of review of model performance and controls, including establishing the model validation scope, assessment of validation results and communication with stakeholders.

Ensures that all bank models undergo an appropriate level of effective challenge, either by conducting a formal model validation or by overseeing a third-party review.

Issues model validation reports that summarize the validation, conclusions, and documents model findings, validation rating and tracks model findings to resolution.

Distributes templates and consults with model owners on model documentation, change management, and performance monitoring efforts.

Ensures that Business Units understand and are in compliance with the Model Risk Management Policy.

Proactively identifies emerging model risk or model issues which may impact the Company and escalate these issues to model owners and senior management and help strategize risk mitigation efforts.

Coordinates model risk assessments and periodic reviews.

Partners with the Business Units to: identify potential models, assign model risk ranking, and plan for an appropriate level of independent review.

Presents periodic updates on the Company’s compliance with its Model Risk Management Policy and the state of the Company’s model risk management program to the Model Risk Management Committee and senior management.

Assists with administration and works effectively with bank examiners.

Maintains and champions industry standards and best practices for modeling techniques at the bank through presentations, conferences, networking, and educational forums.

Performs other miscellaneous responsibilities and duties as assigned.

Qualifications

Bachelor’s degree in a quantitative discipline (Finance, Economics, Mathematics, or Statistics) from an accredited institution or equivalent work experience. Master’s degree in an advanced quantitative discipline is preferred but not required.

Minimum 6 to 8 years of model or operational risk management and/or experience in modeling techniques, finance, compliance, audit or relevant risk management experience. A balance of higher education with strong technical skill sets may be considered in lieu of work experience. Project management experience and knowledge of bank operations, regulatory laws and risk management issues preferred.

Demonstrated proficiency with personal computers in a networked environment and Microsoft applications (Outlook, Word, Excel, SharePoint, and PowerPoint) or similar software. Knowledge of or ability to use Bank software and systems. Knowledge of statistical programming (such as SAS, R, Python, etc.).

Excellent communications skills, both oral and written, are essential, as are good interpersonal and presentation skills. Ability to communicate in a formal and understandable format, bringing groups of people to consensus. Strong conceptual and quantitative problem-solving skills and ability to think creatively. Motivated to manage and work independently, effectively, and efficiently under time constraints. Ability to prioritize and manage multiple assignments with strong organizational skills. Able to work flexible hours including holidays, weekends and evenings as needed.

As a Bank of Hawaii employee, you ensure (or assist with ensuring) compliance with applicable laws, regulations, regulatory requirements and Bank policies and procedures, including but not limited to those related to Fair Banking, Anti-Money Laundering laws and regulations, Bank Secrecy Act and USA PATRIOT Act.

Delivering exceptional customer experiences is at the heart of what we do at Bank of Hawaii. We listen, understand and deliver what our customers need to help them build a better tomorrow.

We are an EEO/AA employer, including disability and veterans. For Bank of Hawaii's full EEO statement, please visit

Same Posting Description for Internal and External Candidates