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Vice President, Model Risk Manager

Vice President, Model Risk Manager

MUFG AmericasToronto, ON, Canada
7 days ago
Job description

Do you want your voice heard and your actions to count?

Discover your opportunity with Mitsubishi UFJ Financial Group (MUFG), one of the world’s leading financial groups. Across the globe, we’re 120,000 colleagues, striving to make a difference for every client, organization, and community we serve. We stand for our values, building long-term relationships, serving society, and fostering shared and sustainable growth for a better world.

With a vision to be the world’s most trusted financial group, it’s part of our culture to put people first, listen to new and diverse ideas and collaborate toward greater innovation, speed and agility. This means investing in talent, technologies, and tools that empower you to own your career.

Join MUFG, where being inspired is expected and making a meaningful impact is rewarded.

Job Summary :

As a VP, Model Risk Manager within Quantitative Risk Control (QRC), the candidate is responsible for the management of enterprise-wide model risks associated with the Bank's development, deployment, and maintenance of quantitative models.

Key Accountabilities :

Model Validation :

  • Independently validate quantitative models in the MUFG Americas model inventory.
  • Assessment of model conceptual soundness, evaluation of data and assumptions, testing model computational accuracy, and performing outcomes analysis (such as back-testing and benchmarking).
  • Monitor model performance reports on an ongoing basis to ensure models remain valid.

Program Enhancement :

  • Assist in developing, maintaining, and implementing the Bank's Model Risk Management Program.
  • Contribute to establishing standards for managing areas of model risk : Development and implementation, governance and documentation, and model performance.
  • Consult with model users on the design of effective model operational controls.

    • Maintain Model Inventory :

  • Conduct quantitative process assessment.
  • Coordinate the resolution of findings with model owners and users, recommend management action plans, and track remediation progress.
  • Perform Annual Inventory review.

    • Collaboration :

  • Support relationships with model owners and users.

    • Technical Skills :

  • Statistical modeling, data and multivariate analysis.
  • Multiple Linear Regression, Decision Trees, Logit Modeling, Time Series Modeling, Monte Carlo Simulations.
  • Computer programming skills Knowledge of US regulatory requirements including SR 11-7.
  • Verbal and written communication skills and project management.

    • Experience and Abilities :

  • 7+ years experience within the financial services industry including knowledge of US regulatory requirements.
  • Strong verbal and written communication skills.
  • Strong project management skills.

    • Education and Training :

  • Master's or PhD in Financial Engineering, statistics, mathematics or related field.

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