• MODEL VALIDATION MANAGER

    Job Locations US-MN-St Paul | US-IN-Evansville
    Category/Function
    Risk/Security
    Position Type
    Regular Full-Time
    Requisition ID
    2018-2817
  • Overview

    Old National Bank was established in 1834. Today we are the largest financial services holding company headquartered in Indiana. We provide an array of services to our clients which include Retail Banking, Investments, and Wealth Management. At Old National we believe that by helping our associates balance work life with home life, we create a more productive workforce and a stronger company.

     

    In 2019, Ethisphere Institute announced Old National Bank as one of the World’s Most Ethical Companies for the eighth consecutive year.

     

    Old National Bank continues to grow and with that growth brings opportunities.  One of those opportunities is the position of Model Validation Manager for our ever- growing Risk department.  This position is available at our corporate headquarters in Evansville, IN or Minneapolis MN.

    The Model Validation Manager will assist with the enterprise-wide oversight responsibility for all aspects of model risk including model governance, model validation and model performance monitoring.  This Model Validation Manager validates and approves qualifying models used across different areas of the enterprise and is responsible for model risk ratings, model inventory management, model disclosures, model usage tracking and controls. This Model Validation Manager will assist in implementing and maintaining high quality standardized model validation documentation and keep up-to-date with regulations, regulatory exam requirements and regulatory guidance as well as interacting with external regulators and internal auditors to demonstrate the operational soundness and effectiveness of the model validation process.  This manager will work closely with executives and senior management with all lines of business for independent validation projects, other ongoing monitoring/effective challenge processes and provide recommendations for continuous model enhancements across the enterprise.

     

    Responsibilities:

    • Independent validation of all corporate risk models, including credit risk (PD, LGD), forecasting, compliance and operational risk models as well as other model types which includes performance of model validations and oversight of any independent internal or external model validations.
    • Effective challenge of the model conceptual soundness, assumptions and appropriateness of model methodology.
    • Model development data integrity verification
    • Replication of the model estimates.
    • Model testing including back-testing, sensitivity analysis, stress testing and benchmarking.
    • Review of the model implementation, verification of user acceptance testing.
    • Preparation of comprehensive independent validation documentation.
    • Coordination of independent validation projects and processes among multiple stakeholders. Participation in peer review processes for model development and validation.
    • Participation in improvement of model validation procedures and supporting methods.
    • Participation in model monitoring and maintenance review.
    • Ongoing improvement of business acumen including knowledge of regulatory guidance, relevant research, risk technology and financial services industry.
    • Development of strong business relationships with key business partners.
    • Perform independent model validations and effective challenge for models across all lines of business.
    • Maintain and follow independent model validation standards and procedures. Interpret model validation test results and establish required action plans with model owners/developers and provide value-added recommendations to model owners/developers.
    • Proactively identify emerging model risk issues impacting the company and communicate to model developers, senior management and committees as needed.
    • Maintain current/develop new analytical reports and presentations for senior management, executive committees and regulatory exams.
    • Collaboration with (future) data warehouse and/or model development departments.

    Qualifications:

    • Master’s or PhD. In business, economics, engineering, statistics, mathematics or an equivalent combination of education and work-related experience.
    • 5+ years of experience in financial industry, audit or functional equivalent.
    • Statistical and econometric theory, logistic regression, linear regression, time series modeling, operations research and scenario-based simulations.
    • Model development and implementation procedures.
    • Capabilities and knowledge of SAS, SQL, R, or Python
    • Project management and strong communication skills.
    • Capacity to cope with a high degree of ambiguity and change.
    • Ability to work both independently and as part of cross-functional teams.
    • Capable of preparing and presenting reports to all audiences including executives and boards.
    • Demonstrated leadership abilities in a fast-paced work environment.
    • Track record of being highly engaged with a hands-on management approach and lead-by-example style.
    • Outstanding business acumen and analytical, problem solving, written and verbal communication skills.
    • Possess strong interpersonal skills, customer and team oriented.

    Old National is proud to be an equal opportunity employer focused on fostering an inclusive workplace and committed to hiring a workforce comprised of diverse backgrounds, cultures and thinking styles.

     

    As such, all qualified applicants will receive consideration for employment without regard to race, color, religion, sex, national origin, protected veteran status, status as a qualified individual with disability, sexual orientation, gender identity or any other characteristic protected by law.

     

    We do not accept resumes from external staffing agencies or independent recruiters for any of our openings unless we have an agreement signed by the Talent Development Team Leader, VP, to fill a specific position.

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