Model Risk Management Program Director

Bank OZK • Little Rock, AR • 2h ago

Why Bank OZK

Founded on a legacy of more than 120 years in banking, Bank OZK is much more than just a company. We're nationally recognized as an industry leader in financial services. That means we combine exceptional service with innovative technologies to deliver smart solutions to our clients across the country. We're investing in small businesses, fueling economies in local communities and changing skylines in the largest cities across America. Here, we're not simply filling roles. We're fostering even greater careers.

The foundation for a great career starts with an exceptional team and a comprehensive benefits package. We believe in providing our dedicated team members with the best resources to support their physical, mental and financial wellbeing, including generous PTO, 401(k) matching, health, dental, vision (and pet!) insurance as well as special perks and discounts. Learn more about Bank OZK benefits (https://careers.ozk.com/benefits) .

Job Purpose & Scope

Assists department leadership with enterprise-wide oversight for all aspects of model risk including model governance, model validation, and ongoing model monitoring. Provides technical leadership for a team of analysts that validates and approves qualifying models used widely across the Bank and is responsible for model risk ratings, model inventory management, model disclosures, model usage tracking, and controls.

Essential Job Functions

Provides technical leadership to a team of model validation professionals to assess, validate, and review all aspects of model development, acquisition, implementation, usage, and reviews and approves all model validation reports.

Ensures independent validations of all models, including performance of model validations and oversight of any internal or external model validations.

Effectively challenges the model conceptual soundness, assumptions, and appropriateness of model methodology.

Coordinates independent validation projects and processes among multiple stakeholders.

Participates in peer review processes for challenger model development.

Leads the improvement of model validation procedures and supporting methods and provides recommendations to leadership for continuous model enhancements across the enterprise.

Develops and maintains strong business relationships with key business partners.

Assists in implementing and maintaining high quality standardized model validation documentation, including independent model validation standards, procedures, and policies.

Interprets model validation test results, establishes required action plans with model owners, and provides recommendations to model owners and developers.

Proactively identifies emerging model risk issues impacting the company and communicates to model developers, senior management, and committees, as needed.

Maintains current and develops new reports and presentations for senior management, executive committees, and regulatory examiners.

Maintains current knowledge of regulations, regulatory exam requirements, and regulatory guidance. Interacts with external regulators and internal auditors to demonstrate the operational soundness and effectiveness of the Bank's model validation process.

Collaborates with data engineering and model development departments on special projects.

Performs other duties as assigned.

Knowledge, Skills & Abilities

Comprehensive knowledge of statistical and econometric theory, logistic regression, linear regression, time series modeling, machine learning, artificial intelligence, operations research, and scenario-based simulations.

Comprehensive knowledge of model development, implementation, and validation procedures.

Comprehensive knowledge of model risk management and governance and related regulations, regulatory exam requirements.

Proficiency with SAS, SQL, R, and Python.

Ability to demonstrate effective project management skills.

Ability to communicate effectively both verbally and in writing.

Ability to manage work in an environment with a high degree of ambiguity and change.

Ability to utilize discretion and sound judgment in decision making and maintain confidentiality.

Ability to work both independently and as part of cross-functional teams, under minimal or no supervision.

Ability to prepare and present reports to all audiences including executives and boards.

Ability to demonstrate effective leadership skills in a fast-paced work environment.

Ability to demonstrate effective business acumen and analytical and problem-solving skills.

Ability to demonstrate effective interpersonal skills with both customers and employees.

Skill in using computer and Microsoft Office, including Word, Excel, Outlook and PowerPoint.

Basic Qualifications

Bachelor's degree in business, economics, engineering, statistics, mathematics or related field, or commensurate work experience, required; Master's or Ph.D. degree preferred.

6+ years of work experience in model risk management and governance, model development, or statistical analysis, preferably in financial services, required.

Job Expectations

Operate customary equipment and technology used in a business environment, with or without accommodation.

Note: This description is not an exhaustive list of all job functions, duties, skills, and job standards required. Other job functions, duties, skills, and standards may be added. Management reserves the right to add or change the job requirements at any time.

LI-RV1

DNP

EEO Statement

Bank OZK is an equal opportunity employer and gives consideration for employment to qualified applicants without regard to race, color, religion, sex, national origin, age, sexual orientation, gender identity, disability status, protected veteran status, or any other characteristic protected by federal, state, and local law. Member FDIC.

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