Ford Motor Company

Director of Model Risk Management

Ford Motor Company

full-time

Posted on:

Location Type: Hybrid

Location: Riverton • Utah • United States

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Job Level

Lead

Tech Stack

Python

About the role

  • Direct the development and execution of the Bank’s model risk management program to align with the Bank’s governance framework and risk appetite, and comply with Bank policy and federal/state law and regulation
  • Establish and maintain effective model risk management program standards, procedures and processes for model development, documentation, validation, implementation, and use, which align with Bank policy and regulatory guidance
  • Stay abreast of industry trends, regulatory changes, and emerging risks related to model risk management
  • Establish and maintain a robust model inventory, ensuring accurate and complete documentation of all models used within the organization and develop and implement a model risk-based rating framework
  • Develop and oversee the implementation requirements for the inventory of Bank-wide models
  • Oversee the independent validation of all models, ensuring that they are conceptually sound, statistically robust, fit for their intended purpose, and all validation activities and conclusions are adequately documented consistent with Bank policies and procedures
  • Manage the validation process, including planning, execution, documentation, and reporting of validation findings
  • Establish a severity rating framework, reporting on, and approving remediation plans and compensating controls for issues raised in model validations and elsewhere
  • Develop and implement processes for ongoing model monitoring, including back testing, sensitivity analysis, and benchmarking
  • Prepare a consolidated view of model risk across the Bank, including significant individual model risk and model risk in the aggregate, the state of compliance with and recent and outstanding exceptions and ensure that model performance is regularly reported to senior management and relevant committees
  • Establishing a process for periodic review of all models and ensuring that reviews are conducted in accordance with the established process
  • Act as the primary contact for regulatory examinations, internal audits, and external audits of the credit risk management programs. Respond to exams and audit concerns and coordinate corrective action of all related findings
  • Oversee activities of the model risk management team, develop personnel, and collaborate effectively with model owners, developers, business stakeholders, and other department heads to deliver on specific objectives and initiatives
  • Communicate model risk management policies, procedures, and expectations to stakeholders across the organization
  • Represent the Bank in civic and community reinvestment functions

Requirements

  • Master's degree or PhD in a quantitative field such as mathematics, statistics, economics, finance, or a related discipline
  • Minimum of 10+ years of experience in model risk management, model development, and/or model validation within the financial services industry
  • Strong understanding of model risk management principles and regulatory requirements
  • Experience with a wide range of models used in banking, including credit risk models (PD, LGD, EAD), pricing models, and stress testing models
  • Proven experience leading and managing a team of quantitative professionals
  • Strong analytical and problem-solving skills
  • Excellent communication and interpersonal skills, with the ability to effectively communicate complex technical concepts to both technical and non-technical audiences
  • Proficiency in statistical modeling software (e.g., SAS, R, Python)
  • Strong understanding of data management principles and data quality
  • Deep understanding of the banking industry, including lending practices, risk factors, and regulatory environment
  • Excellent organizational skills and the ability to work well under pressure both independently and collaboratively within a team environment
  • Strong ethical behavior and the ability to work with sensitive information
  • Excellent leadership skills and the ability to train and develop employees, and align them to specific objectives
Benefits
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Applicant Tracking System Keywords

Tip: use these terms in your resume and cover letter to boost ATS matches.

Hard Skills & Tools
model risk managementmodel developmentmodel validationstatistical modelingback testingsensitivity analysisbenchmarkingcredit risk modelspricing modelsstress testing models
Soft Skills
analytical skillsproblem-solving skillscommunication skillsinterpersonal skillsorganizational skillsleadership skillsteam managementcollaborationethical behaviorability to work under pressure