Model Risk Governance Senior Analyst - Corporate Vice President

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Date: Jun 14, 2022

Location: New York, NY, US

Company: New York Life Insurance Co

 

 

When you join New York Life, you’re joining a company that values career development, collaboration, innovation, and inclusiveness. We want employees to feel proud about being part of a company that is committed to doing the right thing. You’ll have the opportunity to grow your career while developing personally and professionally through various resources and programs. New York Life is a relationship-based company and appreciates how both virtual and in-person interactions support our culture.

 

The Model Risk Governance Senior Analyst will play a critical role in ensuring a consistent implementation of the Model Risk Governance framework for all models at NYL, including actuarial and non-actuarial models.
This individual will report to the Lead of Model Risk Governance and will be the main team member responsible for managing, maintaining and overseeing the company-wide model inventory along with the Model Risk Management System (MRM System), the platform that enables the inventory and model governance. The role requires a comprehensive understanding of the model lifecycle including model development and validation processes, risk rating and controls.

 

Responsibilities:
• Responsible for the maintenance of the model inventory, including collecting and tracking feedback and defects as well as owning defect resolution
• Track business use of the MRM System and train Business Unit (BU) stakeholders as needed
• Own model governance processes that ensure BUs keep model information in the MRM System accurate, complete, and current
• Lead collaboration with NYL IT as well as external vendors to prioritize, organize and manage technical tasks related to the MRM System
• Lead the enhancement, change management practices, and functional testing of the MRM System upon implementation of new features
• Execute reporting for BUs and Senior Management, e.g., extract reports via SQL from the MRM System and/or enhance report automation
• Assist in planning, tracking, and executing key Model Governance processes
• Implement systematic training on the MRM Governance Framework and the MRM System
• Facilitate the adoption of compliant model lifecycle practices in all lines of defense

 

Qualifications:
• Bachelor’s degree in Finance, Mathematics, Economics or related discipline
• Minimum seven years of experience in Model Risk Management related areas
• In-depth knowledge of model inventory, lifecycle practices and workflows around model validation, attestation and other 1st line and 2nd line of defense processes
• Good understanding of risk metrics and model risk controls
• Knowledge of SQL and techniques to retrieve information from databases
• Strong communication and interpersonal skills
• Must be detail-oriented, very organized and good at prioritization

 

Preferred Qualifications:
• Master’s degree in a relevant discipline
• Knowledge of model testing areas like calibration, sensitivity analyses, stress testing and benchmarking
• Knowledge of a high-level programming language (e.g., Python, R, VBA)

 

 

Recognized as one of Fortune’s World’s Most Admired Companies, New York Life is committed to improving local communities through a culture of employee giving and volunteerism, supported by the Foundation. We're proud that due to our mutuality, we operate in the best interests of our policy owners. We invite you to bring your talents to New York Life, so we can continue to help families and businesses “Be Good At Life.” To learn more, please visit LinkedIn, our Newsroom and the Careers page of www.NewYorkLife.com.

Job Requisition ID: 86632

 

 

 


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