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Contract Model Risk Governance Jobs in Michigan (NOW HIRING)

Macomb Community College

$162K - $255K/yr

... model risk management, and the primacy of human judgment * Oversee technology portfolio analysis, prioritization, and governance to ensure alignment with the college's strategic plan, goals ...

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Contract Model Risk Governance information

What is contract model risk governance?

Contract Model Risk Governance refers to the framework and processes used by organizations to identify, assess, monitor, and mitigate risks associated with the use of models in contracts or contractual obligations. This role ensures that the use of quantitative models in financial and business contracts complies with regulatory standards and internal policies, reducing the likelihood of errors, misinterpretations, or financial losses. Professionals in this field often oversee model validation, implementation, and documentation, and work closely with compliance, risk, and legal teams. Effective governance helps maintain model integrity and supports sound decision-making across the organization.

What are the key skills and qualifications needed to thrive in contract model risk governance?

To excel in Contract Model Risk Governance, you need a strong background in risk management, quantitative analysis, and familiarity with regulatory requirements, often supported by a degree in finance, mathematics, or a related field. Proficiency with risk management software, model validation tools, and knowledge of frameworks such as SR 11-7 is typically required. Attention to detail, critical thinking, and effective communication are crucial soft skills for evaluating model risk and collaborating with stakeholders. These skills ensure robust oversight of model risk, regulatory compliance, and support sound decision-making within financial institutions.

What are some common challenges faced by professionals in contract model risk governance roles, and how can they be addressed?

Professionals in Contract Model Risk Governance often encounter challenges such as keeping up with evolving regulatory requirements, ensuring thorough model documentation, and effectively communicating risk findings to both technical and non-technical stakeholders. Balancing the need for detailed model validation with tight project timelines can also be demanding. To address these challenges, it's important to foster strong cross-functional collaboration, stay updated on industry best practices, and develop clear communication strategies for reporting risk and compliance issues.

What is the difference between Contract Model Risk Governance vs Contract Model Validation?

AspectContract Model Risk GovernanceContract Model Validation
Primary FocusOverseeing and managing risks associated with contract models, ensuring compliance and risk mitigationAssessing and testing contract models to ensure accuracy and reliability
ResponsibilitiesEstablishing policies, monitoring risk exposure, and implementing controlsPerforming independent reviews, testing model assumptions, and validating outputs
Work EnvironmentRisk management teams, compliance departments, regulatory interactionsQuantitative teams, model validation units, audit functions

While Contract Model Risk Governance focuses on managing and overseeing risks related to contract models, Contract Model Validation involves the technical assessment and testing of those models to ensure their accuracy and reliability. Both roles are essential in a comprehensive risk management framework within financial institutions and industries relying on contract models.

What are the most commonly searched types of Model Risk Governance jobs in Michigan?

The most popular types of Model Risk Governance jobs in Michigan are:

What are popular job titles related to Contract Model Risk Governance jobs in Michigan?

For Contract Model Risk Governance jobs in Michigan, the most frequently searched job titles are:

What job categories do people searching Contract Model Risk Governance jobs in Michigan look for?

The top searched job categories for Contract Model Risk Governance jobs in Michigan are:

What cities in Michigan are hiring for Contract Model Risk Governance jobs?

Cities in Michigan with the most Contract Model Risk Governance job openings:

Contract Model Risk Governance jobs near you

Data Governance Analyst

Dearborn, MI • On-site

Renaissance Partners
Marketing • 1 - 10 employees
Learn more about Renaissance Partnersexternal

Contractor

Re-posted 2 days ago

Job description

Company Description
Renaissance Partners is a NYC based recruiting firm and trusted adviser to leading companies in the financial services, technology, retail and healthcare industries.
Job Description
As a Data Governance Analyst with a leading design and manufacturing company you will work across all areas of the company to ensure data quality, data management, data policies and risk management. In addition you will ensure data is profiled to identify data attributes for security, understand content and opportunities to improve it with standards. You will also work with various stakeholders to make recommendations to improve data quality, data standardization and data transformation.
Responsibilities:
  • Data usage/data management/data protection including.
  • Perform data profiling of sources to assess data quality and work on mitigation strategies and cleansing solutions.
  • Populate Metadata content and associate terms in the Business Glossary to develop the Informatica Enterprise Data Catalog.
  • Resolve data issues in the appropriate forums and work cross functionally to develop solutions.
  • Collaborate with Data, Analytics and IT teams and guide them on data standards and the use of Informatica tools.
  • Identify relationships in data to assist in providing insights.
  • Establish repeatable, sustainable processes to maintain data and metadata.
  • Understand company and regulatory guidelines regarding data privacy, usage and retention (PII, GDPR, SPII).
  • Deliver training and communications for new Informatica capability and Data Governance processes.
  • Automate solutions to enable data protection for inter-related systems data.
  • Utilize skills in Informatica Software: Data Quality, Profiling and Data. Management tools, SQL and Data discovery techniques.

Qualifications
Required:
  • 8 + years of progressive responsibilities in Data Integration/Data Management
  • Informatica experience including: Analyzer, MDM, EIC, EDL, EDC, BDM, IDQ, PowerCenter
  • Skills in Java, NoSQL, HADOOP, IBM Data Stage/Quality Stage.
  • Data Management tools, SQL and Data discovery techniques.
  • Bachelor's Degree in Computer Science, Statistics, Finance or a related technical field.

Preferred:
  • Knowledge of Application Development Lifecycle.
  • Strong collaboration and communications skills, ability to engage with others.
  • Ability to resolve complex problems and break them down to create and implement an action plan.
  • Ability to lead data related project activities.
  • Self-Starter who can work in ambiguous situations and drive to a solution.
  • Strong organizational skills and ability to advance multiple work streams concurrently.
  • Ability to work within analytical frameworks in a Big Data environment (Data Lake, EDW, Data Warehouse architectures.

Additional Information
This is a contract position.

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