Model Risk System Design

Date: May 4, 2019

Location: New York, NY, US

Company: New York Life Insurance Co

 

A career at New York Life offers many opportunities. To be part of a growing and successful business. To reach your full potential, whatever your specialty. Above all, to make a difference in the world by helping people achieve financial security. It’s a career journey you can be proud of, and you’ll find plenty of support along the way. Our development programs range from skill-building to management training, and we value our diverse and inclusive workplace where all voices can be heard. 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 service, supported by our Foundation. It all adds up to a rewarding career at a company where doing right by our customers is part of who we are, as a mutual company without outside shareholders. 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.

 

The Model Risk System Specialist will report to the Lead of Model Risk Governance and will be responsible for developing and maintaining the model risk tracking system.  In collaboration with the business units, the actuarial function and ERM, he/she will be responsible for tracking and including in the system all models firm-wide, including actuarial, asset, pricing and risk models.  The System Specialist will also assist the model risk governance team in building and implementing the risk ranking of all models, ensuring that all aspects of model risk are incorporated in the model tracking system.  

 

Description of Responsibilities

  • Collaborate with IT to develop and implement a firm-wide model risk tracking system, database system design, and associated reporting capabilities
  • Collaborate with business units, actuarial and risk management functions to implement and enhance the system as needed, taking into account each unit’s specific needs
  • Participate in the ongoing development and deployment of model risk measurement methodologies
  • Work with the model risk governance team to track all models firm-wide and ensure that all model risk measures are incorporated into the model tracking system, including documentation and risk ranking
  • Ensure maintenance of the system and compliance across the company

 

Requirements

  • BA or advanced degree in engineering, computer science or equivalent quantitative discipline
  • Expertise is SQL and a statistical language like R or Python.  Knowledge of Cypher and graph databases preferred.
  • Minimum 3 years of experience in Model Governance, Model Risk Management or Quantitative Risk
  • Experience in risk, finance and regulatory aspects
  • Exceptional interpersonal skills and ability to collaborate successfully
  • Ability to communicate effectively and collaborate with non-technical experts

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