Pay Range: $55.00hr - $60.00hr
Job Overview
The independent review Client of the risk organization provides a second line of defense for the use of various model types and manages model risk. The model governance team maintains the model inventory and helps ensure the application of model risk management standards under regulatory frameworks.
Responsibilities
- Ensure compliance with all relevant regulatory requirements and internal standards related to model risk management under the guidance of leadership.
- Prepare and present regular reports on model risk status, issues, and mitigation efforts to senior management, internal audit, and regulators.
- Coordinate and engage model validators to ensure model risk management practices are integrated into 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 validators and implementation managers to ensure adequate and timely resolution.
- Coordinate annual model attestations with business lines and conduct effective challenge exercises to ensure model inventory completeness and accuracy.
- Maintain and update model risk policies, standards, and procedures to ensure consistent and effective model risk management.
- Contribute to the operational risk framework, support annual Risk and Control Self-Assessments (RCSA), and document permanent controls applied by the model governance team.
Work Conditions
This position provides for standard working conditions in an office and a normal work schedule from Monday to Friday with minimal travel required.
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 simultaneously.
- 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.
- Strong synthesis skills and critical thinking capabilities.
- High proficiency with Microsoft Word, PowerPoint, Outlook, and Excel.
Preferred Qualifications
- Programming skills in Python.
- Knowledge of AI model governance or validation.
- Knowledge of regulatory guidance on model risk management and banking regulations.
- Knowledge of databases and systems used for model inventory management.
- Experience interacting with model validators or internal auditors.
- Experience writing policies and procedures.
Benefits
Our Benefits Include:
- Medical, Dental, and Vision Insurance
- 401(k) Retirement Plan
- Health Savings Account (HSA)
- Disability Insurance (Short-Term and Long-Term)
- Life and AD&D Insurance
- Paid Sick Leave (where required by applicable state or local law)
- Supplemental Insurance Plans
- Identity Theft Protection
- Pet Insurance
- Employee Wellness Programs
- Employee Assistance Program (EAP)
- Career Growth and Professional Development Opportunities
Disclaimer: Benefits eligibility, accrual rates, and usage limits may vary based on employment status, length of service, and work location. Paid Sick Leave is provided in strict accordance with applicable state and municipal mandates. Cynet Systems Inc. reserves the right to modify, amend, or terminate any benefit plans at any time in accordance with applicable laws.
About Cynet Systems
Founded in 2010 and headquartered in the Washington, DC metro area, Cynet Systems Inc. is a leading technology staffing and workforce solutions company serving Fortune 500 companies, government agencies, and enterprise organizations across the United States and Canada. We deliver agile, scalable talent solutions across IT, engineering, life sciences, clinical, and professional staffing, powered by a high-performing recruitment engine operating across North America and Asia.
As a nationally and locally certified Minority Business Enterprise (MBE), Cynet Systems is committed to helping organizations build high-performing teams while empowering professionals to grow rewarding careers. Our organization is certified to ISO 9001, ISO 14001, ISO 27001, and SOC 2 Type II standards, reflecting our commitment to quality, security, operational excellence, and customer success.
