Director of Model Risk Management

Job details

Job type full-time

Full job description

Silvergate has served entrepreneurs in unique and niche industries for over 20 yearsWe leverage our technology platform and expertise to develop solutions for fintech and digital currency companies and investors around the worldRecognizing digital currency’s potential during the sector’s infancy, we have embraced pioneers and built flourishing relationships with those who were underserved by traditional banksSilvergate is a california chartered, federal reserve member bank, the leading provider of innovative financial infrastructure solutions and services for the growing digital currency industry, and a lender to growth-oriented businesses, entrepreneurs, and investorsEmbracing change and recognizing opportunity are part of the silvergate dna.

The director of model risk management will be the critical team member in the establishment of silvergate’s model risk management program responsible for all aspects of building a model risk program in compliance with regulatory requirements.

Essential duties and responsibilities

General

Establish policies and governance frameworks to mitigate risks associated with models
Routinely interact with model owners and users across the bank`s various lines of business
Conduct independent model validations to manage and mitigate the risks that arise from the use of models and deliver complete model validation reports
Provide independent and effective challenge of all model components throughout its lifecycle
Prepare rigorous workpapers documenting the validation review and analysis
Discuss findings and their risk severity with model owners and assist with remediation recommendations
Track findings assigned and validate them to ensure they are properly addressed in a timely manner
Maintain the enterprise`s model inventory and model documentation library and validation review schedule
Monitor internal/external audit and regulatory issues to ensure timely remediation
Prepare presentations for risk committees and management
Facilitate risk profiling process for assigned business units
Establish and maintain relationships within assigned business units and throughout the enterprise
Perform ad-hoc and regular risk analysis and communicate findings to leadership
Must adhere to the company’s core values of challenge convention, do what’s right, take ownership, empower people, exceed expectations, and cultivate awesome all while keeping our “why?” front of mindOur why? silvergate is the banking platform for innovators, and we believe in the power of entrepreneurs to create prosperity for our communities.
Not to harm consumers with any act that could be misleading, unfair, deceptive, or abusive in act or practice

Knowledge, skills and abilities

Undergraduate degree in a quantitative discipline (e.gStatistics, engineering, mathematics, etc) and 10 years of relevant experience or
Graduate degree in a quantitative discipline (e.gStatistics, engineering, mathematics, etc) and 7 years of relevant experience.
Intimate knowledge of regulatory guidance (occ 2011-12/sr 11-7).
Proficiency in r and / or python
Superior written and oral communication skills, with the ability to communicate effectively at all levels of the organization, with particular emphasis on being able to articulate complex topics in a manner digestible to a wide audience.
Ability to work with and manipulate large data sets.
Demonstrated self-starter who is able to work independently with minimal supervision as well as in highly collaborative team.
Ability to manage multiple projects at once and meet deadlines.
Some experience working under the agile framework would be preferred.
Cfa / frm designations highly desirable.

Bank secrecy act requirements

Responsible for adhering to the reporting and recordkeeping requirements of the bank secrecy act and anti-money laundering rules and regulations, observing economic sanctions by prohibiting transactions as specified by the office of foreign asset control (ofac), following the company’s customer identification program (cip) rules, observing all company policies and procedures relating to bsa, ofac, cip, and related acts, and participation in ongoing related training.

Work conditions
Standard office environment with a moderate noise level or working remotely.

Physical demands

While performing the duties of this job, the employee is:

Regularly required to talk or hear
Required to communicate with customer and coworkers verbally and in writing
Occasionally required to stand; walk
Occasionally required to lift up to 25 pounds
Required to sit for long periods and reach with hands and arms
Able to read documents, computer screens, reports, other communications and have the ability to adjust focus and close vision.

Management reserves the right to add to, change and revise this description at any timeThis description does not include any marginal functions that are incidental to the essential functionsAlso, it does not imply that these are the only tasks to be performed by the incumbentEmployees are required to follow any other job-related instructions and to perform any other job-related tasks requested by their supervisorAny requirement may be modified to reasonably accommodate individuals with disabilities.

Silvergate is an eeo/aa/disability/vet

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