VP – Model Risk Management

A Leading Global Consultancy is seeking a highly technical VP – Model Risk Management to lead its independent model validation team. In this senior leadership role, you will be responsible for overseeing the rigorous testing and validation of complex financial models across diverse asset classes. Furthermore, you will ensure that all model governance frameworks strictly adhere to global regulatory standards like SR 11-7. Consequently, this position is vital for mitigating model risk and ensuring the accuracy of critical business decisions for our global clients.

The VP – Model Risk Management must possess expert knowledge in quantitative finance and a deep understanding of model lifecycles. Additionally, you will lead high-visibility validation projects and represent the firm in discussions with senior risk committees and external regulators. Therefore, the consultancy is looking for a seasoned professional with over 10 years of experience in model risk or quantitative audit. If you are a visionary leader with a drive for technical excellence, this VP – Model Risk Management role offers a premier executive platform.

Key Responsibilities

• Lead the independent validation of Credit, Market, and Operational risk models.
• Develop and implement comprehensive model risk management (MRM) policies and frameworks.
• Oversee rigorous technical testing, including sensitivity analysis, back-testing, and benchmarking.
• Evaluate the conceptual soundness and mathematical integrity of complex quantitative models.
• Lead the reporting of model limitations and uncertainties to the Board and Risk Committees.
• Ensure strict compliance with regulatory guidelines such as SR 11-7 and Basel norms.
• Collaborate with model owners and developers to resolve validation findings and improve model quality.
• Manage and mentor a global team of quantitative analysts and validation specialists.
• Drive the adoption of automated validation tools and AI-driven model monitoring.
• Stay abreast of emerging technologies and industry best practices in Model Risk Management.

Requirements and Qualifications

• Ph.D. or Master’s degree in a highly quantitative field (Mathematics, Physics, or Financial Engineering).
• 10+ years of experience in Model Validation, Quantitative Research, or Model Risk Management.
• Expert knowledge of pricing and risk models for derivatives and fixed-income products.
• Strong programming skills in C++, Python, or R for technical model testing.
• Exceptional leadership and stakeholder management skills in a global delivery model.