Model Validation Team Leader – Credit and Payments Risk recruitment

Qualifications
DescriptionThe Federal Reserve Bank of New York is seeking an experienced professional to join the Risk Analytics team as a Model Validation Team Leader. The Model Validation Team Leader will design, lead, and implement validations of the Bank's financial risk and valuation models and lead a staff of several Model Validation Analysts.
The Model Validation Team Leader will report to the Risk Analytics Function Head.
ResponsibilitiesValidation responsibilitiesDesigning, leading, and implementing validations of the Bank's financial risk and valuation models used to support the Bank's monetary policy and financial stability objectives, the Bank's supervisory responsibilities, and the Bank's risk management functions; working with external vendors to evaluate proprietary vendor risk and valuation modelsApplying knowledge of best practices in valuation, risk management, financial econometrics to provide expert reviews and analysis of all components of financial models including model theory (assumptions used, methodology, documentation) and model implementation (input data, implementation decisions, model code, model outputs, and model accuracy)Identifying and explaining model limitations and highlighting potential improvements in model design, implementation, coding, output reporting, and documentation; maintaining familiarity with regulatory and market developments that impact model performanceProviding clear and concise written and verbal communication of technical observations to senior bank management and stakeholdersManagement responsibilitiesPrioritizing the work of the Validation Team and managing a portfolio of validation projects; using project management techniques to ensure timely project completion and high-quality deliverables Communicating and collaborating with stakeholders including model developers, the Bank's Risk Management and Audit functions, and the Bank's external auditors Developing and maintaining validation project plans and inventories as well as preparing in-depth documentation and records of validation activities Mentoring Validation team members to develop their knowledge and skillsPolicy responsibilitiesContributing to the enhancement of the Bank's model control, governance, and validation policies as informed by regulatory and private sector best practicesContributing to Federal Reserve System workgroups on model validation and governanceCollaborating as needed with other teams to contribute to policy analysis