Model Risk Manager Jobs in Columbia, MD (NOW HIRING)

The World Bank Group is a unique global partnership of five institutions driven by a bold vision to create a world free of poverty on a livable planet. As one of the largest sources of funding and knowledge for developing countries, we help solve the world's greatest development challenges. When you join the World Bank Group, you become part of a dynamic, diverse organization with 189 member countries and 182 offices worldwide. We work with public and private sector partners, invest in groundbreaking projects, and use data, research, and technology to bring tangible and transformative change around the globe. For more information, visit www.worldbank.org

VPU Context:

The WBG Chief Risk Officer Vice Presidency (CROVP) is the core unit responsible for Group-wide institutional risk oversight, including establishment and monitoring adherence to risk policies and guidelines and risk assessment and reporting to the Board and executive management. Its mission is to enable and support the WBG to achieve its goals in a financially sustainable manner. The VPU assists management with identifying and managing Group-wide cross-cutting risks, enhancing risk response decisions, reducing financial and operational surprises and losses, seizing opportunities and improving deployment of capital. The WBG CRO Vice Presidency includes the IBRD/IDA, IFC, and MIGA risk teams and covers a wide range of financial and non-financial risks.

WBG CRO is looking to recruit a WBG Manager to lead the WBG Model Risk and Analytics function in CROVP, based in Washington, DC. 

Duties and Accountabilities:

Lead the WBG model risk and analytics function for financial and non-financial models, including capital, portfolio, and risk models, with reporting to the WBG Director, Risk Architecture.

Provide thought leadership, practical recommendations and implementations to strengthen model risk management & governance, including directives, policies, procedures, supporting platforms, and control standards.

Provide regular, decision-oriented reporting to the WBG CRO on key model risks, validation findings, remediation progress, and model governance matters.

Build and support a strong model risk culture by promoting independent challenge to models, sound judgment, transparency, accountability, and collaboration across WBG institutions.

Set strategic priorities for the model risk function, aligning validation plans, governance activities, and control enhancements with WBG's institutional risk priorities.

Build and manage relationships with senior management & stakeholders, model owners, and team staff; proactively identify new or proposed model activities with potential model risk implications.

Partner with model owners and stakeholders to maintain a complete and accurate WBG model inventory and assign model risk ratings. 

Build and maintain WBG CRO's benchmark models for high-risk WBG models to support benchmarking, independent challenge, and continuous model governance.

Lead and supervise independent model validation activities for all in-scope models, ensuring independent challenge, clear communication of findings and remediation plans, timely resolution of findings, and escalation of material concerns.

Strengthen model risk controls of WBG by identifying gaps in governance, validation practices, documentation, implementation, monitoring, and ongoing performance review; stay current on advances in quantitative modelling, AI/ML, validation techniques, and emerging model risk practices to enhance models, tools, controls, and governance.

Maintain industry and peer-network engagement to benchmark best practices; lead and contribute to the "Multilateral Development Banks' Model Risk Management Forum" to advance model risk governance, peer learning, and shared solutions for WBG models.

Provide direction, coaching, and feedback to build a high-performing, diverse team of model risk professionals; promote continuous learning to maintain current skills, knowledge, and technical expertise.

People/Talent Management:

Model exemplary WBG leadership values and managerial behavior.

Drive and encourage technical excellence within the team by creating an environment of learning and innovation that attracts and develops the best talent reflective of the diversity of our clients.

Coordinate and support the management in developing and implementing appropriate staffing strategies, staff learning and development as well as career progression and talent and performance management.