Director/Sr. Director – Model Validation – Treasury/ALM Model Validation

First Citizens Bank hiring for Director/Sr. Director – Model Validation – Treasury/ALM Model Validation jobs in Angier, NC, US

This position is within First Citizens Bank’s Model Risk Management (MRM) team. The director/senior director of Treasury/ALM Model Validation (senior director) will report to Head of Model Risk Management. As a key leader in building and maturing the model risk function, the senior director will add significant value to First Citizens by adopting industry best practices and will position the bank effectively for sustained growth. Oversees a team of associates that provide crucial business insight for risk management initiatives and strategies. Key elements of the senior director’s mandate will include creating and executing against SR11-7 and SR15-19 compliant financial risk model validation standards for deposit, interest rate, and liquidity risk, in addition to PPNR modeling and other financial models as required. In creating and maintaining these standards, the senior director will provide independent oversight and effective challenge of the bank’s activities related to the development, documentation, use, inventory management, and validation of estimation approaches related to Treasury/ALM models.

• Model Risk Management – Provides independent oversight and effective challenge over the Bank’s activities related to the development, documentation, use, inventory management, and validation of estimation approaches (models and non-model estimates), ensuring compliance with the model risk management policy and standards:
• Drives SR11-7 and SR15-19 model risk compliant validation projects to completion on time and with high efficacy.
• Seeks out and employs new technologies and techniques to improve the efficiency and accuracy of model validation work.
• Risk Management - Leads the planning, execution, and ongoing review of ALM/Treasury model validation programs. Oversees all associates and processes within the programs. Directs monitoring activities for the identification and management of risk. Drives the implementation of program policies, standards, and procedures. Partners with key business stakeholders to ensure compliance with program requirements. Maintains productive relationships with senior management to direct appropriate communication from leadership to associate teams.
• Business Support - Provides risk expertise and support for business programs, initiatives, and committees. Serves as an advisor on risk best practices, processes, and regulatory requirements. Manages risk education and training through partnership with business units. Directs presentations, workshops, and other trainings as necessary. Develops active relationships within professional networks to stay current on emerging issues and regulatory requirements. Communicates risk vision and regulatory requirements to business stakeholders. Serves as a system administrator for department technology and risk management tools.
• Managerial Functions - Establishes and monitors expectations to achieve company and department goals. Makes appropriate changes to team policies, procedures, and efficiencies in order to meet objectives. Determines appropriate staffing for assigned areas bases on the size, scope, risks, and regulatory environment. Manages the performance, training, and evaluation of assigned staff. Maximizes department achievements by providing professional development.
• Reporting - Develops and implements tools or processes which enhance risk reporting capabilities. Oversees the documentation of risk metrics and data in order to provide reports for executive leadership.
• Auditing - Assists audits of Bank operations through partnership with both internal and external auditors. Works closely with regulatory agencies and assists regulatory exams. Ensures that all auditing or exam preparatory needs are met.

Bachelor's Degree and 12 years of experience in Risk analytics OR High School Diploma or GED and 16 years of experience in Risk analytics

Preferred Qualifications:

Advanced degree (Master's or Ph.D.) in a quantitative field (e.g., Mathematics, Statistics, Computer Science, Data Science, Finance, Economics, Physics, Engineering, Operations Research, or a related discipline).

Minimum 10+ years of experience in model risk, model development, model validation, or model implementation within the financial industry.

Strong understanding of regulatory requirements: SR 11-7/ FIL-22-2017.

Demonstrated intellectual aptitude and academic and/or professional training to effectively lead teams of statistical modelers.

Excellent problem-solving skills, attention to detail, and ability to work both independently and collaboratively within a team.

Excellent written and verbal communication skills.