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Contract Model Risk Governance Jobs in Minnesota

Huntington

Enterprise Architect (IT)

Minnetonka, MN · On-site +1

Familiarity with AI governance, model risk considerations, responsible AI principles, data governance, privacy, explain ability, and control frameworks in regulated environments. Exempt Status: (Yes ...

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Huntington

Enterprise Architect (IT)

Minnetonka, MN · On-site +1

Familiarity with AI governance, model risk considerations, responsible AI principles, data governance, privacy, explain ability, and control frameworks in regulated environments. Exempt Status: (Yes ...

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Contract Model Risk Governance information

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 key skills and qualifications needed to thrive in Contract Model Risk Governance, and why are they important?

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 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.
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Contract Model Risk Governance jobs near you
Senior Consultant, Data Management and Governance - ANH

Senior Consultant, Data Management and Governance - ANH

Cargill

Wayzata, MN • On-site

$100K - $140K/yr

Other

Posted 2 days ago

Cargill rating

7.4

Company rating: 7.4 out of 10

Based on 215 frontline employees who took The Breakroom Quiz

18th of 48 rated food wholesalers

Job description

Cargill is committed to providing food and agricultural solutions to nourish the world in a safe, responsible, and sustainable way. Sitting at the heart of the supply chain, we partner with farmers and customers to source, make and deliver products that are vital for living. 
Our 155,000 team members innovate with purpose, providing customers with life's essentials so businesses can grow, communities prosper, and consumers live well. With over 160 years of experience as a family company, we look ahead while remaining true to our values. We put people first. We reach higher. We do the right thing-today and for generations to come.

Job Purpose and Impact
  • The Senior Consultant - Data Management & Governance job ensures the accuracy, security and effective use of the organization's complex data. With minimal supervision, this subject matter authority develops, implements and governs policies and practices to ensure compliance with regulations while improving the value of data.
Key Accountabilities
  • STRATEGIC PLANNING: Serves as a domain expert and contributes to developing, deploying and maintaining data management and governance strategies aligned with organizational goals.
  • DATA STORAGE, INTEGRATION & CONSUMPTION: Develops, governs and monitors the implementation of standards for data storage, data in transit and data use in both raw and insight formats, and defines the business risk for non-compliance.
  • DATA STANDARDS: Develops, documents and governs detailed data standards to ensure consistency and quality across data domains, and that policies are followed.
  • DATA QUALITY: Ensures the accuracy, consistency and reliability of data throughout its lifecycle by setting data quality standards, supervising data quality metrics and implementing corrective processes while conducting data quality audits as needed to ensure data standards are met, and works across organizational boundaries to address process changes, educational opportunities and organizational accountability.
  • POLICY DEVELOPMENT & GOVERNANCE: Leads the development and operational alignment of data governance policies, providing expertise of given domain or capability.
  • DATA OPERATIONS & STEWARDSHIP: Serves as a domain authority to provide operational improvements to reduce data quality defects, improve efficiency and speed while maintaining compliance to regulations and policies.
  • DATA LIFECYCLE MANAGEMENT: Handles complex data from initiation to decommissioning through the lifecycle to ensure compliance with policies and regulations and serves as a subject matter authority to define opportunities for improvement, risk areas and driving a backlog of maturity advancements for consideration.
  • COMPLIANCE & RISK MANAGEMENT: Develops, improves, implements data governance, risk and compliance processes and controls to mitigate risk and align with applicable laws and regulations.
  • DATA LITERACY & TRAINING: Develops and deploys training programs to improve organizational literacy, compliance to data standards and policies and increased understanding of accountability for data responsibilities.
  • DATA MODELING: Informs the visual representation of a system's data and its relationships to help understand and prioritize the data structure.
Qualifications
  • Minimum requirement of 4 years of relevant work experience. Typically reflects 5 years or more of relevant experience.
  • Professional experience with data quality, ERP, or data management and governance in SAP S4
  • Professional exposure to MDM tooling and processes
  • Knowledge of the Business Partners (BP) domain in SAP
  • Experience in Animal Feed Industry
Compensation Data

The expected salary for this position is $100,000 - $140,000. Compensation varies depending on a wide array of factors including but not limited to the specific location, certifications, education, and level of experience. The disclosed range estimate may be adjusted for any applicable geographic differential associated with the location at which the position may be filled. This position is eligible for a discretionary incentive award. The incentive award amount is dependent upon company performance and your personal performance. 

At Cargill we put people first. As part of your overall rewards, we offer a comprehensive benefit program including medical and/or other benefits dependent on the position offered and hours worked. Visit: https://www.cargill.com/page/my-health/mh-health-and-wellnessto learn more (subject to certain collective bargaining agreements for Union positions) . 

Equal Opportunity Employer, including Disability/Vet.

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About Cargill

Sourced by ZipRecruiter

Cargill was founded in 1865 as a single grain warehouse in Iowa, U.S. Since then, we’ve grown to become a global partner connecting people around the planet. But one thing has remained constant over the years: our purpose of nourishing the world in a safe, responsible and sustainable way. Cargill is committed to conducting business with integrity, operating responsibly, enriching communities and nourishing the world. In the fiscal year 2021, Cargill provided $110.5 million in total charitable contributions in 56 countries to support our communities. Cargill businesses and employee-led groups partner with local civic, nonprofit and non-governmental organizations on programs and projects that improve food security and nutrition; support human rights, equity and inclusion; strengthen farmer livelihoods; and advance our commitments in the areas of land use, water and climate.

Industry

Food and drink manufacturing

Company size

10,000+ Employees

Headquarters location

Minneapolis, MN, US

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