Role Summary
This is a senior individual contributor role within the first-line-of-defense (1LoD) that plays a lead operational role in executing and maintaining the business line's compliance with the enterprise-wide Model Risk Management (MRM) Policy. This role owns end-to-end governance activities across the model lifecycle, acting as a subject matter expert and primary day-to-day liaison with Model Sponsors, Model Developers, and the second-line-of-defense (2LoD) Independent Risk Management (IRM) organization.
This role operates with a high degree of independence, exercises sound judgment on complex model risk matters, and supports the Head of MRM Governance (C14) in delivering strategic objectives for the function.
Key Responsibilities
Framework Execution & Advisory:
* Execute and monitor the business line's adherence to the Citi MRM Policy, Standard, and Execution Manual, identifying gaps and recommending corrective actions.
* Serve as a subject matter expert and day-to-day point of contact for Model Sponsors on policy interpretation and governance requirements.
* Represent the business line in working-level meetings with the central MRM organization and support preparation for Internal Audit and regulatory engagements.
* Prepare materials, briefings, and updates for Segment Model Risk Councils on behalf of the Head of MRM Governance.
Model Lifecycle Governance:
* Model Identification: Lead the ongoing process to identify quantitative methods, systems, and approaches that may qualify as models; assess scope and coordinate submissions to MRM for determination.
* Development & Documentation:
* Partner closely with Model Sponsors to ensure Model Development Documents (MDDs) are complete, accurate, and of high quality prior to submission for validation.
* Review documentation for conceptual soundness, data usage, and performance substantiation, providing detailed feedback and guidance to model owners.
* Coordinate governance requirements for vendor models, ensuring equivalent standards are applied.
* Validation & Remediation:
* Manage the end-to-end coordination of model validation activities, including initial validations, annual reviews, and ongoing validations.
* Track and drive the timely remediation of model limitations and validation findings; develop detailed action plans and monitor progress against due dates.
* Escalate at-risk remediations to the Head of MRM Governance with recommendations for resolution.
* Implementation & Use:
* Review model implementation evidence to confirm deployment in approved, controlled production environments (e.g., CSI, RPA, EUC) and that implementation testing is appropriately completed.
* Monitor model usage to ensure alignment with approved purposes; review, document, and escalate any model overlays for appropriate justification and approval.
* Ongoing Monitoring:
* Coordinate the ongoing performance monitoring (OPA) schedule for the model portfolio, ensuring Model Sponsors adhere to required frequencies (Quarterly/High, Semi-Annually/Medium, Annually/Low).
* Analyze monitoring results to identify performance trends or degradation signals, and recommend or escalate actions as appropriate.
* Model Change & Retirement:
* Manage the governance process for model methodology, implementation, or usage changes, ensuring documentation and MRM approval are obtained prior to implementation.
* Facilitate the formal retirement process for decommissioned models, ensuring all records are updated accordingly.
Inventory, Attestation & Reporting:
* Maintain and continuously validate the completeness and accuracy of the business line's model inventory within the Citi Risk Model Risk Management System (MRMS).
* Lead the execution of the semi-annual model inventory attestation process, coordinating with Model Sponsors and compiling outputs for senior review.
* Manage the end-to-end process for Policy Dispensation requests and ensure Policy Breaches are identified,...
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