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Director Model Risk Governance Jobs in Pennsylvania

Nomura International

Risk & Governance

Philadelphia, PA

$220K - $240K/yr

Executive Director Department: Risk and Governance Location: Philadelphia The pay range for this position at commencement of employment is expected to be between $220K - and $240k per year* (see ...

Nomura International

Risk & Governance

Philadelphia, PA · On-site

$220K - $240K/yr

Executive Director Department: Risk and Governance Location: Philadelphia The pay range for this position at commencement of employment is expected to be between $220K - and $240k per year* (see ...

Guardianlife

Model Risk & Validation Lead

Bethlehem, PA · Hybrid

$103K - $169K/yr

Support the Head of Model Risk Governance through independent assessment and challenge of model assumptions within the Model Risk Management framework, including reasonableness, limitations ...

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Director Model Risk Governance information

What is the difference between Director Model Risk Governance vs Model Risk Analyst?

AspectDirector Model Risk GovernanceModel Risk Analyst
CredentialsAdvanced degrees (e.g., Master’s, PhD), professional certifications (e.g., FRM, CFA)Bachelor’s or Master’s degree, relevant certifications
Work EnvironmentStrategic oversight, policy development, senior stakeholder engagementData analysis, model validation, risk assessment
Employer & Industry UsageFinancial institutions, banks, asset managersFinancial institutions, risk management teams
Search & Comparison IntentUnderstanding leadership roles in model risk governanceEntry to mid-level model risk roles, analysis tasks

The main difference is that the Director Model Risk Governance focuses on strategic oversight, policy setting, and managing model risk at a senior level, while the Model Risk Analyst handles technical validation, data analysis, and risk assessment tasks. The director role involves leadership and decision-making, whereas the analyst role is more technical and operational.

What are the key skills and qualifications needed to thrive as a Director of Model Risk Governance, and why are they important?

To thrive as a Director of Model Risk Governance, you need deep expertise in quantitative finance, risk management, and model validation, often backed by an advanced degree in a quantitative field and relevant industry experience. Familiarity with risk management frameworks, regulatory standards (e.g., SR 11-7), and proficiency in analytical tools like Python, R, or SAS are typically required. Exceptional leadership, communication, and critical thinking skills help you effectively oversee teams and coordinate with stakeholders across the organization. These competencies are vital to ensure robust model governance, regulatory compliance, and informed risk-based decision-making at the enterprise level.

What are Director Model Risk Governance roles?

Director Model Risk Governance roles are senior positions responsible for overseeing and managing the risks associated with financial and predictive models within an organization. These professionals establish and implement model risk management frameworks, ensure compliance with regulatory requirements, and oversee model validation processes. They collaborate with model developers, validators, and business units to identify, assess, and mitigate model risks, as well as report on governance effectiveness to senior management. Their work is crucial in maintaining the reliability and integrity of models used for decision-making and regulatory reporting.

What are some common challenges faced by a Director of Model Risk Governance, and how can they be addressed?

A Director of Model Risk Governance often encounters challenges such as ensuring consistent model validation across diverse business units, keeping up with evolving regulatory requirements, and fostering effective communication between model owners, validators, and senior management. Addressing these challenges typically involves establishing robust model risk frameworks, maintaining clear documentation, and promoting a culture of transparency and collaboration. Regular training sessions and open forums can help bridge knowledge gaps, while leveraging technology can streamline model inventory and validation processes.
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Director Model Risk Governance jobs near you

Model Risk - Investment Management

Nomura International

Philadelphia, PA • On-site

$160K - $190K/yr

Full-time

Medical, Retirement, PTO

Posted 20 hours ago

Job description

Job Title: Model Risk - Investment Management
Corporate Title: Vice President
Department:Risk Management
Location:Philadelphia
The pay range for this position at commencement of employment is expected to be between $160,000 and $190,000 annually.
* (see below footnote for additional compensation and benefits information).
Company overview
Nomura is a global financial services group with an integrated network spanning approximately 30 countries and regions. By connecting markets East & West, Nomura services the needs of individuals, institutions, corporates and governments through its three business divisions: Wealth Management, Investment Management, and Wholesale (Global Markets and Investment Banking). Founded in 1925, the firm is built on a tradition of disciplined entrepreneurship, serving clients with creative solutions and considered thought leadership. For further information about Nomura, visit www.nomura.com.
Aon's Benefit Index®, Nomura's benefits rank #1 amongst our competitors
Division Overview:
Nomura's Risk department plays a crucial role in identifying, assessing, and mitigating risks across our business. We strive to protect the firm's assets, reputation, and financial stability by implementing robust risk management practices. Join our team and contribute to our proactive approach in managing risks, allowing us to make informed decisions and thrive in an ever-changing market environment.
Role Description:
The Model Validation Group (MVG) is part of the Risk department and globally responsible for establishing Model Risk Management framework, independently validating the integrity and comprehensiveness of Models in the firm. MVG also develops measures of Model Risk; monitoring Model Risk vs. the firm's Model Risk Appetite and escalates model approval breaches.
We are seeking an experienced Vice President to join our Model Validation Group (MVG) with primary responsibility for reviewing and validating models utilized across the Investment Management Division (IMD), including Nomura Asset Management International. In this role, you will provide independent validation oversight for sophisticated quantitative models that are critical to our global investment management operations.
  • Conduct independent validation of complex models used in IMD covering quantitative investment strategies, index calculation including Quantitative Investment Strategies (QIS), automated execution, as well as models used in risk management and performance reporting.
  • Evaluate model conceptual soundness, ongoing monitoring framework, and model outcomes and appropriateness for intended use.
  • Document validation findings including risk-based assessment of model limitations and assumptions in detailed reports.
  • Present validation results and risk assessments to senior management, model risk governance committees, and business stakeholders.
  • Contribute to the establishment and promotion of model governance standards and best practices in IMD under Nomura Group's Model Risk Management framework.
  • Build collaborative partnerships with stakeholders while maintaining independent, principled challenge.

Skills, experience, qualifications and knowledge required:
  • 3+ years of experience at VP or equivalent level in model validation, quantitative analysis, portfolio management, or risk management; demonstrated expertise in investment management strongly preferred.
  • Master's degree or higher in Math, Statistics, Economics, or related quantitative discipline.
  • Expertise in at least one of the following areas:
    • Risk Models related to Var or Counterparty exposure
    • Pricing Models from one of the asset classes: Interest Rate/FX/Equity Derivatives/Credit
    • Quantitative investment management, asset allocation, and portfolio optimization
    • Risk management within asset management companies
    • Corporate valuation methods
    • Index calculation methodologies, including Quantitative Investment Strategies (QIS)
  • Advanced proficiency in Python, R, and/or VBA for quantitative modeling and analysis.
  • A team player with strong verbal and written communication skills.

Nomura Competencies
Explore Insights & Vision
  • Identify the underlying causes of problems faced by you or your team and define a clear vision and direction for the future.

Making Strategic Decisions
  • Evaluate all the options for resolving the problems and effectively prioritize actions or recommendations.

Inspire Entrepreneurship in People
  • Inspire team members through effective communication of ideas and motivate them to actively enhance productivity.

Elevate Organizational Capability
  • Engage proactively in professional development and enhance team productivity through the promotion of knowledge sharing.

Inclusion
  • Foster a culture of inclusion and psychological safety in the workplace and cultivate a "Risk Culture" (Challenge, Escalate and Respect).

*base pay offered may vary depending on multiple individualized factors, including market location, corporate and functional title and duties, job-related knowledge and advanced degrees, skills, and experience. The total compensation package for this position may also include other elements, including a sign-on bonus, restricted stock units, discretionary awards and eligibility for commissions for applicable sales roles in addition to a full range of medical, financial, and/or other benefits (including 401(k) eligibility and various paid time off benefits, such as vacation, sick time, and parental leave), dependent on the position offered. Details of participation in these benefit plans will be provided if an employee receives an offer of employment.
If hired in the U.S., employee will be in an "at-will position" and the Company reserves the right to modify base salary (as well as any other discretionary payment or compensation program) at any time, including for reasons related to individual performance, Company or individual department/team performance, and market factors".
Nomura is an Equal Opportunity Employer

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