Skills

Communication Critical Thinking Python Risk Management Training Programming Databases Organization Organizational Skills Mathematics

Job Specifications

Contract: 4-5 Months

Job Description:

In a changing world, unprecedented challenges require unmatched talent. Join one of Montreal's Top Employers in 2025. We are a dynamic and growing organization having its main establishment located in downtown Montreal and part of a leading international banking institution fully committed to building a more sustainable future. Note that the position may be in the Canadian Branch of client or in one of its subsidiaries based in Montreal.

The position at a glance:

RISK Independent Review & Control (RISK IRC) is a special unit within the RISK organization and reports directly to the Group Chief Risk Officer. The independent review arm of the department provides second line of defense for the use of various types of models and, accordingly, is in charge of model risk management. RISK IRC is composed of several model validation groups and a model governance team. The model governance team maintains the model inventory and helps ensure the application of the model risk management standards under the umbrella of the Federal Reserve Board letter SR11-7.

Note:

The Model Risk Governance Specialist is part of the RISK Independent Review & Control team (RISK IRC) and is the central point for ensuring that the bank's models meet all regulatory and internal model risk requirements, particularly those outlined in the Federal Reserve’s SR 11 7 guidance.

The role’s primary deliverables include maintaining an up-to-date model inventory and a recommendation inventory and driving the timely resolution of issues by coordinating closely with model validators and implementation managers. The specialist also helps to prepare regular status reports on model risk, issues, and mitigation actions for senior management. The contractor will also oversee the annual model attestation and effective challenge exercises with business lines to verify the completeness and accuracy of the inventory.

In detail:

The Model Risk Governance Specialist is responsible for the following activities:
Ensure compliance with all relevant regulatory requirements and internal standards related to model risk management under the guidance of the Head of RISK IRC Americas.
Prepare and present regular reports on model risk status, issues, and mitigation efforts to senior management.
Coordinate and engage the model validators to ensure that model risk management practices are integrated into the model development and validation processes.
Provide training and guidance to stakeholders on model risk management principles and best practices.
Maintain an updated model inventory in accordance with model risk management (MRM) decisions.
Manage the recommendations inventory and engage with the validators and implementation managers to ensure their adequate and timely resolution.
Coordinate the annual model attestation with Business Lines and the effective challenge exercise to ensure the completeness and accuracy of the model inventory.
Maintain and update when necessary, model risk policies, standards, and procedures to ensure consistent and effective model risk management.

The strengths and skills that will help you succeed:

List of required competencies

Bachelor’s or Master’s degree in Finance, Economics, Mathematics, Statistics, or a related field.
3+ years of experience in model risk management, preferably within the financial services industry.
Ability to work in a fast-paced environment and manage multiple deadlines at once.
Strong sense of ownership and accountability.
Excellent analytical and organizational skills.
Ability to engage various stakeholders and deliver clear reports.
Strong verbal and written communication skills.
Good synthesis skills and critical thinking capabilities.
Highly efficient with Word, PowerPoint, Outlook and Excel.
Knowledge of English is required.

Preferred qualifications:

Programming skills (Python).
Knowledge of AI models governance or validation.
Knowledge of regulatory guidance on model risk management and banking regulation.
Knowledge of databases and systems for model inventory management.
Experience in interacting with model validators or internal auditors.
Experience in writing policies and procedures.

About the Company

USTECH SOLUTIONS is the largest privately owned diversity workforce partner with a global footprint. For 20+ years, we have partnered with leading MSPs and some of the world's largest enterprises to deliver a flexible workforce. We serve Fortune 500 giants and growing businesses alike, reinventing the role of humans in a digital workforce. 'Reinventing Human' is about connecting you with top talent and seamlessly integrating new hires into your programs through our next gen AI powered Talent platforms. As the largest privat... Know more