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Model Risk Officer

Model Risk Officer

Société Générale AssurancesMontreal, Canada
30+ days ago
Job description

Model Risk Officer

Risks Permanent contract Montreal, Canada Reference 24000P1Z Start date 2024 / 12 / 16 Publication date 2024 / 10 / 18

Responsibilities

The Risk Management Department contributes to the sustainable growth of the Societe Generale group through its expertise, understanding of risks, and risk management techniques. The department’s mission is to independently analyze, assess, manage and monitor risk-taking activities with the objective of achieving, together with the first line-of-defense, the best possible outcome for the bank. The department oversees the enterprise, strategic, credit, market, liquidity, operational, model, and other risks of the corporate and investment banking business activities.

ABOUT THE JOB :

This role is within the Model Risk Governance Team of the Risk Management Division (RISQ). RISQ’s main mission is to contribute to develop SG Group (the Group) business and returns through the implementation of an efficient risk management process. Model risk governance refers to the framework and processes to effectively manage the risks associated with the use of models. The candidate will work for the Model Risk Management team (RISQ / MRM) in charge of model risk governance, located in Montreal.

The Model Risk Governance candidate will play a critical role in ensuring a consistent implementation of the Model Risk Governance framework for all models at Societe Generale in the Americas, across all model families. You will report to the Head of Model Risk Governance and will be the main team member responsible for managing, maintaining, and overseeing the AMER Model Inventory along with the Model Risk Management tool (GRC Platform), the platform that enables the inventory and model governance for the Americas. The role requires a comprehensive understanding of the model lifecycle including model development and validation processes, risk rating and controls. It involves the implementation of policies and controls to ensure the accuracy, reliability, and appropriate use of models in decision-making processes.

What will be your DAY-TO-DAY?

The primary responsibilities are to :

  • You will contribute to the enhancement of our AMER model risk appetite and management framework definition
  • You will engage model owners / users / developers for the collation and ongoing maintenance of the SG AMER Model Inventory, and participate actively to the annual certification campaign
  • You will manage the model approval process, administration for initial use approval, subsequent approvals, and model change oversight
  • You will coordinate with Model Validation teams for the firm's models; define validation priorities for both in-house and vendor models, based on regulatory guidance, internal policy and procedures and best industry practices.
  • You will perform quality controls on the independent reviews performed by Validation teams.
  • You will implement model risk governance processes including model risk assessment and reporting to relevant governance forums.
  • You will participate in the deck’ preparation to regulators and internal / external audit on model risk management topics.
  • You will work with technology partners to design and roll out the firm's strategic model inventory and workflow solution.
  • You will review validation of recommendations, issues, and reports, while tracking and reporting remediation actions status.

You will compile and distribute model governance forum material

Profile required

Skills and Qualifications :

Must Have :

  • Minimum three years of experience in Model Risk Management related areas
  • Bachelor’s degree in Finance, Economics, or related discipline
  • Strong knowledge of Model Risk regulatory requirements (SR11-07) and industry standard practice
  • Experience in drafting policy and procedure documentation, and MIS intended for a senior audience that includes senior management, oversight forums and regulators
  • Exceptional interpersonal skills and ability to collaborate successfully
  • Proven success as a trusted partner who implements change and positively influences change adoption by end users
  • Good understanding of risk metrics and model risk controls
  • Must be detail-oriented, very organized and good at prioritization

    • LANGUAGE :

    Ability to communicate in English, both orally and in writing, is a requirement as the person in this position will need to collaborate regularly with colleagues and partners in the United States.

    Due to US Federal Securities law applying to this position, candidates who will apply for this position will be required to submit to an enhanced background screening, including the collection of their fingerprints by a third-party vendor selected by the Financial Industry Regulatory Authority ("FINRA")

    Why join us

    OUR BENEFITS :

    WHAT WE DO DIFFERENTLY AT SOCIÉTÉ GÉNÉRALE

    Competitive compensation & benefits offering, including but not limited to :

  • Minimum of 20 Vacation days + 4 personal days Supportive Maternity, paternity, parental and adoption leave policy Health spending ($2,000 / year) and personal spending ($1,000 / year) accounts with 75+ eligible reimbursement categories (health, training, electronics etc.)

    • Fully sponsored virtual healthcare assistance and Employee Assistance Program to you and your immediate family

    Various Employee Resource Groups (ERG) to engage with such as Pride and Allies, American Women Network, Black Leadership Network, One planet, etc.

  • A culture of continuous development by encouraging our employees various training programs (online training and coaching platform such as Coursera, GoFluent, Pluralsight, First Finance, and others)