Director, Quantitative Finance Manager, AML Model Validation Lead
Company: Disability Solutions
Location: Charlotte
Posted on: April 20, 2024
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Job Description:
Job Description:Role Overview:Model Validation Lead ("MVL")
oversees the team conducting independent validation and
quantitative analytics for AML models. The MVL is responsible for
providing risk oversight, acting as a subject matter expert and the
second line of defense overseeing model performance, model risk and
model governance. The MVL directly or indirectly provides oversight
to a team of model validators and reports up to the Model Risk
Officer. The MVL is accountable for managing execution of model
risk framework activities including, but not limited to,
independent validation, annual model review, ongoing monitoring
report review, required action item review, and peer review. Job
Description:At Bank of America, models are used for a broad range
of activities, including but not limited to valuation, risk
management, capital and liquidity planning, stress testing,
underwriting and other strategic or day-to-day decision-making
purposes. Bank of America recognizes the risk and uncertainty
associated with the use of its models and the need to effectively
manage this risk both at an individual level and in the aggregate.
The Model Risk Management ("MRM") Team provides oversight for model
risk across Bank of America's model inventory.The MRM Team
independently validates and challenges models; is responsible for
model risk assessments, limits and monitoring; communicates issues
identified through validations to relevant businesses and
governance and control functions; and escalates model use breaches
and remediation plans to relevant governance committees.Enterprise
Model Risk Management seeks a senior Model Validation Lead to
oversee model risk of AML models.The qualified candidate will be
responsible for overseeing a broad range of model risk management
activities, including:
Keywords: Disability Solutions, Huntersville , Director, Quantitative Finance Manager, AML Model Validation Lead, Executive , Charlotte, North Carolina
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