Credit Risk Model Owner

$90,000 - $100,000/Yr

Sumitomo Mitsui Financial Group - White Plains, NY

posted 7 months ago

Full-time - Mid Level
Remote - White Plains, NY
10,001+ employees
Credit Intermediation and Related Activities

About the position

SMBC is seeking a Credit Risk Model Owner Analyst to serve as the local model owner responsible for monitoring and managing credit risk-related models for the SMBC Americas Division portfolio. This role is crucial in conducting regular model monitoring procedures, managing findings, and ensuring model governance. The analyst will communicate with key model stakeholders, including the Tokyo Head Office, and will be involved in the development of credit risk models while reporting to team leads and senior management. The primary objectives of this role include delivering effective model performance monitoring based on a defined monitoring plan and making necessary revisions. The analyst will maintain inventories of credit risk-related models and collaborate with model validators to prepare comprehensive model documentation packages and attestations. Addressing model risk findings issued by the model validation group and internal audit is also a critical responsibility. The analyst will develop internal credit risk models in collaboration with the Tokyo Head Office, the Model Validation team, and external vendors. Periodic monitoring of credit model usage will be conducted to identify and examine the need for enhancements, including providing user guidance and training. Interpersonally, the analyst will communicate with various stakeholders, including model users, validators, and internal auditors across the bank, including the Tokyo Head Office. Reporting to team leads and senior management, the analyst will also lead and train junior members. Recommendations for enhancements to data management processes will be made to improve the efficiency and accuracy of ongoing performance monitoring. The analyst will consider the best approaches to address issues and feedback from model users and will be responsible for making presentations to senior management and regulators about credit risk-related models, as well as conducting training sessions for model users. Expertise in Model Risk Management frameworks, regulations, and industry practices is essential, with a preference for experience related to Credit Risk Rating Models. The analyst should possess strong knowledge and experience as a Credit Risk Model Owner, including developing credit rating models and documentation. Strong presentation skills are required to create visualized charts and materials for various audiences, including regulators and senior management. The ability to work independently while managing multiple priorities and stakeholders under pressure is crucial, along with effective communication skills to build collaborative relationships across different organizational levels.

Responsibilities

  • Conduct model performance monitoring based on monitoring plan and subsequent revisions.
  • Maintain the credit risk related model inventories.
  • Work with model validators to prepare the model documentation package, model attestation, etc.
  • Address model risk findings issued by model validation group and internal audit.
  • Develop internal credit risk models collaborating with Tokyo Head Office, Model Validation team and/or external vendors.
  • Periodic monitoring on the use of credit models to identify and examine the need for enhancements of the models and their user guidance including training to model users.
  • Enhance model management, governance processes and model documentation standards to improve efficiency and accuracy of model validation process.
  • Communicate with various model stakeholders, including model users, model validators and internal auditors across the bank including Tokyo Head Office.
  • Report to team leads and senior management and also lead and train junior members.
  • Recommend enhancements to data management process to improve efficiency and accuracy of ongoing performance monitoring.
  • Make presentations to senior management and regulators about credit risk related models and conduct trainings to model users.

Requirements

  • Minimum work experience in model risk management of two years or more such as either model developer, model validator or both (experience related to credit risk rating models is highly desirable).
  • Major in Probability/Statistics/Financial Mathematics/Computer Science preferred.
  • Master Degree/CFA/FRM preferred.
  • Highly desirable technical and quantitative analysis skills with statistic knowledge and with technical knowledge such as using Excel (VBA), MS Access, SQL, SAS and Python.
  • Excellent interpersonal and written and verbal communication skills.
  • Japanese language skill a plus.

Nice-to-haves

  • Experience related to Credit Risk Rating Model is better.

Benefits

  • Competitive salary range between $90,000.00 and $100,000.00 based on qualifications and experience.
  • Annual discretionary incentive award eligibility.
  • Comprehensive benefits portfolio offered to employees.
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