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Head Of Model Risk Management Jobs in Iowa (NOW HIRING)

Aegon

Head of Alternative Investments

Cedar Rapids, IA · On-site

Job Family Investment Management About Us At Transamerica, hard work, innovative thinking, and ... Monitor performance, risk exposures, and key return drivers using portfolio analytics and modeling ...

Wellmark, Inc.

Vendor Risk Manager

Des Moines, IA · On-site

While adhering to Wellmark's Vendor Risk Management guidelines through the execution of policies & procedures, ensures the appropriate due diligence and risk oversight is performed for Wellmark ...

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Head Of Model Risk Management information

What are the key skills and qualifications needed to thrive as a Head Of Model Risk Management, and why are they important?

To thrive as a Head Of Model Risk Management, you need deep quantitative expertise, advanced knowledge of risk management frameworks, and a strong background in finance or mathematics, often supported by advanced degrees such as a PhD or MSc. Familiarity with statistical software (like Python, R, or SAS), model validation tools, and regulatory compliance systems is typically required. Exceptional leadership, communication, and critical thinking skills are essential for effectively managing teams and presenting complex risk issues to stakeholders. These skills ensure robust oversight of model risk, regulatory compliance, and sound decision-making within financial institutions.

What is the difference between Head Of Model Risk Management vs Model Validation Manager?

AspectHead Of Model Risk ManagementModel Validation Manager
Primary FocusOversees overall model risk framework, governance, and strategyConducts independent validation and testing of models
ResponsibilitiesRisk oversight, policy development, senior stakeholder communicationModel testing, performance assessment, validation reports
CredentialsAdvanced degrees, certifications like FRM, CFA, or CAMS, experience in risk managementQuantitative background, certifications like CFA, FRM, strong modeling expertise
Work EnvironmentStrategic, leadership role within risk management teamsTechnical, analytical role focused on model validation tasks

The Head Of Model Risk Management oversees the entire model risk framework, focusing on strategy and governance, while the Model Validation Manager specializes in testing and validating individual models. Both roles require strong quantitative skills and relevant certifications, but differ in scope and responsibilities.

What are the main challenges faced by a Head of Model Risk Management in maintaining regulatory compliance?

A Head of Model Risk Management often faces the challenge of keeping up with evolving regulatory expectations and ensuring that all models used within the organization are compliant. This involves constantly monitoring regulatory updates, coordinating with various departments to implement necessary changes, and maintaining detailed documentation for audit purposes. Additionally, the role requires balancing the need for innovation in modeling techniques with the necessity of robust risk controls and transparent validation processes. Regular communication with risk, compliance, and audit teams is essential to address these challenges effectively.

What does a Head of Model Risk Management do?

A Head of Model Risk Management oversees the processes and teams responsible for identifying, assessing, and mitigating risks associated with financial and predictive models used within an organization. This role involves establishing and maintaining model risk frameworks, ensuring regulatory compliance, and leading model validation activities. They also coordinate with other departments to ensure the effective management and governance of all models, providing guidance on best practices and emerging risks. Ultimately, their goal is to minimize model-related losses and support sound decision-making across the business.
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Head Of Model Risk Management jobs near you

Actuarial Associate, Insurance Risk Modeling

Careers at KKR

Des Moines, IA

$120K - $130K/yr

Other

Posted 13 days ago

Job description

Position Summary:

The Actuarial Associate, Insurance Risk Modelling plays a key role in the development, maintenance, and validation of insurance liability models that support pricing, valuation, hedging, and asset-liability management (ALM). This role involves building and enhancing models within the firm's risk platform, performing stress testing across multiple regulatory and economic frameworks, and ensuring models remain aligned with evolving product features and assumptions. The associate collaborates closely with risk management and business stakeholders to communicate insights, support transaction onboarding, and contribute to the development of analytical tools that strengthen risk oversight and challenge existing modeling and pricing practices.

Responsibilities:

  • Develop insurance liability models in GA Risk's liability modelling platform.
  • Communicate findings and implications to Risk's management team and other stakeholders
  • Help onboard various Institutional transactions onto our Risk platform.
  • Perform liability stresses under different lenses (GAAP/Stat/Econ/Bermuda) and understand both actuarial and market risks.
  • Support new product launches and ensure the risk models are up to date with regular rate changes, new product features.
  • Perform validation and control reviews of actuarial/financial models, including assessments of the methodologies and assumptions used within models.
  • Assist in the development and use of quantitative models and analytical tools that enable the Risk function to provide constructive challenge to the current risk management, modeling, and pricing practices.

Qualifications:

  • Bachelor's Degree in a quantitative discipline required.
  • 5+ years in a diversified life and annuity/financial or actuarial consulting firm.
  • Professional designation in financial risk management, such as FSA/ASA or CFA preferred.
  • 5+ years of experience in insurance models with proven track records of modelling complicated insurance products.
  • Knowledge of insurance products (both life and annuities) preferred.
  • Previous experience in hedging or ALM preferred.
  • Python programming skills are highly desired.
  • Strong verbal and written communication skills, especially when articulating technical concepts in a compelling manner to engage both technical and non-technical audiences.

This role is not eligible for visa sponsorship now or in the future. 

This is the expected annual base salary range for this New York-based position. Actual salaries may vary based on factors, such as skill, experience, and qualification for the role. Employees may be eligible for a discretionary bonus, based on factors such as individual and team performance.

Base Salary Range $120,000 - $130,000 

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