Manager, Model Risk Management

Position Summary The Manager, Model Risk Management plays a central leadership role in overseeing enterprise-wide model risk activities across all phases of the model lifecycle. This position expands beyond day‑to‑day analytical responsibilities to include governance ownership, cross‑functional collaborations, vendor model oversight, and enhanced subject‑matter expertise in AI/ML and Generative AI (GenAI) model risks. The Manager will ensure strong regulatory alignment, transparent reporting, and effective risk mitigation practices for operational, analytical, financial and AI‑driven models used across the organization. Essential Functions and Responsibilities Oversee model risk governance across all business units to ensure alignment with the current Model Risk framework. Maintain and update the Model Risk Management Framework and policies as required by industry changes. Advise model developers and business units on model expectations and requirements. Conduct independent validation activities covering conceptual soundness, methodology, performance testing, data quality, sensitivity/benchmark analysis, and outcomes analysis. Prepare comprehensive validation documents, including evidence of validation activities supporting final recommendations. Supervise more complex reviews of AI/ML and GenAI systems, including robustness testing, explainability assessment, hallucination/response integrity evaluation, drift analysis, and model fairness or bias testing. Review and challenge validation work performed by peers or third parties; provide prescriptive feedback and ensure consistency and quality across deliverables. Lead governance activities for the full model lifecycle—including identification, risk rating, validation, approval, monitoring, periodic review, change management, and retirement—ensuring compliance with internal policies and regulatory expectations. Monitor findings and remediations related to model validations. Maintain enterprise model inventory and ensure documentation quality, completeness, and audit readiness for all models. Assess and approve model monitoring submissions. Contribute to the enhancement and implementation of the Model Risk Management (MRM) frameworks, processes, and standards. Collaborate with cross‑functional stakeholders to ensure model risks are appropriately governed and mitigated. Qualifications Education: Bachelor’s degree in mathematics, statistics, finance, computer science, data science, engineering, or a related quantitative field; Master’s, MBA, or Doctorate preferred. Experience: 7–10 years of experience in model risk management, model validation, quantitative analytics, model or AI/ML development, risk governance, or equivalent. Knowledge of model lifecycle governance, regulatory expectations (including the Fed), and industry model risk frameworks. Hands‑on experience assessing or validating traditional models as well as AI/ML or GenAI models. Knowledge of model explainability tools, AI ethics, and responsible AI principles. Ability to interpret, challenge, and communicate complex modeling concepts to both technical and non‑technical audiences. Ability to work collaboratively with others to build strong relationships across the organization. Proficiency in analytical tools such as Python or R; strong Excel and dashboarding skills (e.g., Tableau). Excellent written and verbal communication skills, including experience preparing committee‑level reporting. Preferred Qualifications Experience reviewing or overseeing vendor‑provided models and third‑party risk documentation. Familiarity with model risk supervision within financial services, payments, or clearinghouse environments. Experience mentoring or supervising analysts or junior staff. Physical Demands and Work Environment The working environment is generally favorable. Lighting and temperature are adequate, and there are no hazardous or unpleasant conditions caused by noise, dust, etc. Work is generally performed within an office environment, with standard office equipment available. Travel may be required. Employees will typically report to the office two to three days each week. The job is largely sedentary. Salary & Benefits The anticipated annual salary range for NY‑based candidates for this position is USD 120,000–155,000. Base salary and position level will be determined by the role, experience, skill set, and location. For eligible positions, discretionary incentive compensation may be awarded contingent on personal and company performance. Benefits include medical, dental, vision, life insurance, a 401(k) plan with company contribution and match, and tuition reimbursement. #J-18808-Ljbffr PAYCO The Clearing House Payments Company L.L.C.