Senior Associate, Model Risk Governance Specialist


Date: May 23, 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


Specialist in Model Risk Governance (MRG)


The Model Risk Governance Specialist will report to the Lead of Model Risk Governance and will be responsible for implementing individual components of an effective model risk governance incorporating all types of models and covering the complete model lifecycle, and for developing, maintaining and distributing training & training materials to relevant stakeholders.  The Governance Specialist will assist in implementing model risk policies and model control standards, ensuring compliance across all businesses.  In collaboration with the business units, the actuarial function and ERM, he/she will be responsible for identifying models, completing and maintaining the model inventory.


Description of Responsibilities

  • Implement model risk policies and model risk procedures across all business lines
  • Assist in the development of MRG training materials, maintain such training materials as appropriate, and ensure that all relevant stakeholder training needs are met.
  • Collaborate with business units, actuarial and risk management functions to ensure compliance of model risk governance framework across all businesses and for all model activities
  • Collaborate with developers, production units and model users to implement model controls appropriate for entire model lifecycle as established by model policies and procedures
  • Develop tools to monitor progress and ensure that new model risk governance is working and effective
  • Update, enhance and maintain model metrics for reporting
  • Participate in Model Risk Committee
  • Establish an interactive communication with internal Audit for all aspects related to model risk governance
  • Assist with regulatory or other requests as needed



  • 10+ years of experience in ERM or related function within the financial services industry
  • BA or advanced degree in Econometrics, Statistics or other quantitative discipline
  • Experience in Model Governance, Model Risk Management or other Risk Function  
  • Experience in risk, finance and regulatory aspects
  • Experience in drafting documentation and reports for senior management and regulators
  • Experience in Project Management
  • Exceptional interpersonal skills and ability to collaborate successfully
  • Ability to become a trusted partner and implement change
  • Experience with both banking and insurance institutions a plus




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