Contract Model Risk Governance Jobs in Massachusetts

Description

The Senior Vice President, Market Risk Management & Capital Planning is responsible for enterprise-wide leadership and independent oversight of model risk, AI governance, and capital planning activities. Reporting to the Chief Risk Officer (CRO), this role establishes and maintains frameworks that ensure models, stress testing, and capital adequacy practices are sound, transparent, and aligned with regulatory expectations and the organization’s risk appetite.

As a Second Line of Defense (2LOD) executive, in this role, you’ll provides credible challenges to model development, analytics, and capital decisions while ensuring robust governance, effective risk measurement, and forward-looking insights into emerging risks, market uncertainty, and financial resilience.

Here’s what you can expect from the job and what you need to be successful:

What You’ll Do:

• Establish, maintain, and continuously enhance the enterprise Market Risk Management (MRM) framework, including policies, standards, procedures, and governance practices
• Provide executive oversight of the full model lifecycle, including model inventory, validation, performance monitoring, assumptions, limitations, and issue management
• Ensure model risk governance supports credit, market, liquidity, interest rate, operational, and capital risk assessments across the enterprise
• Deliver independent challenge to model development, usage, and outputs, including forecasting, stress testing, and decision-support models
• Establish and oversee the organization’s AI governance framework, including model usage standards, risk assessments, and controls related to explainability, bias, and ethical considerations [
• Ensure AI and advanced analytics are appropriately governed, transparent, and aligned with regulatory expectations and institutional values
• Monitor and respond to evolving regulatory guidance, industry practices, and emerging risks related to model risk and AI
• Capital Planning & Stress Testing Oversight
• Provide independent oversight and challenge of the capital planning framework, including stress testing, scenario analysis, and capital adequacy assessments
• Ensure stress testing methodologies are robust, well-documented, and appropriately validated
• Evaluate model outputs and scenarios for reasonableness, severity, and alignment with the organization’s risk profile
• Advise executive leadership on capital resilience, vulnerabilities, and trade-offs under adverse scenarios
• Governance, Reporting & Regulatory Engagement
• Deliver executive and Board-level reporting on model risk exposure, capital adequacy, stress testing results, and emerging risks
• Serve as a primary regulatory liaison for model risk and capital planning, ensuring strong relationships with regulators and exam readiness
• Ensure timely, transparent, and effective remediation of regulatory and audit findings
• Establish and monitor risk appetite, limits, and key risk indicators (KRIs) related to model risk and capital adequacy
• Executive Leadership & Strategy
• Set the vision, strategy, and priorities for Model Risk Management, AI governance, and Capital Planning functions lead and develop a high-performing organization, including VPs, Directors, and specialized quantitative risk professionals
• Build deep technical expertise and leadership capability through talent development, succession planning, and strong risk culture
• Partner with Finance, Credit Risk, Market Risk, Technology, and Data organizations to ensure alignment between risk oversight and business strategy
  • Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

Essential Skills: 

• Minimum 12 years’ experience within an enterprise Market Risk Management (MRM) framework, including policies, standards, procedures, and governance practices
• Minimum 10 years’ experience as a people leader, leading a diverse team including hiring, coaching and performance management
• Deep expertise in Market Risk Management frameworks and lifecycle governance
• Strong understanding of quantitative modeling, CECL/ACL, stress testing, and capital planning
• Experience with AI/ML governance and advanced analytics oversight
• Strong knowledge of regulatory expectations (NCUA, FFIEC, model risk guidance)
• Ability to provide independent challenges and influence executive decision-making
• Strong executive communication and Board presentation skills
• Ability to translate complex analytics into clear, actionable insights
• Proven leadership capability with experience building high-performing, technical teams
• Strong strategic thinking and enterprise risk management capabilities
• Required Education: Bachelor's degree in field relevant to role (or 4 additional years of relevant experience in lieu of a degree), advanced degree preferred.

Location: Hillsboro, OR | Marlborough, MA

Target Compensation: $285k - $325k annually + annual bonus 

Who We Are:
What makes First Tech different? Click here to learn more!
Every great journey begins with a bold idea—and ours is no different. First Tech and DCU were founded on the belief that financial solutions should put people first. That belief has fueled decades of innovation and service, rooted in the tech sector and expanding to support members from all walks of life.
Employees are eligible for:
• Traditional medical, dental, and vision coverage
• Generous 401(k) match
• Paid Time Off: You'll accrue up to 15 days in your first year. In addition, you'll receive 40 hours of sick time and 3 personal days, which refresh annually
• Paid federal holidays
• Special employee pricing on lending products such as mortgage, auto, and personal loans (eligibility subject to standard account requirements and underwriting criteria)
Employment Statements:
First Tech is an equal opportunity employer, and we value diversity, inclusion, and equity at our company. We evaluate qualified applicants without regard to race, color, religion, age, sex, sexual orientation, gender identity, national origin, disability, veteran status, and other legally protected characteristics.
If you're applying for a job and need a reasonable accommodation for any part of the employment process, please send an email to recruiters@firsttechfed.com and let us know the nature of your request and contact information. Please note that only those inquiries concerning a request for reasonable accommodation will be responded to from this email address.
First Tech is not currently offering Visa transfer/sponsorship for this position.