Position Summary
As the Model Governance Risk Analyst (MGRA), your primary responsibility will be managing and reporting on the Bank's model inventory in support of the institution's maturing Model Risk Management program. In this position, you will cultivate positive working relationships with model owners and developers to proactively identify and mitigate risks, identify opportunities and develop solutions to enhance the Model Risk Program, and create timely and insightful reporting for Senior Management and the Board of Directors. This position provides you with an opportunity to develop in a growing financial institution and shape the Model Risk Management program.
Duties & Responsibilities
- Manage the Model Risk Management inventory of models and non-models, including the Archer GRC module, to ensure completeness and accuracy of the model inventory, required actions are completed timely, and system updates are completed in accordance with Bank requirements.
- Understand how the models are used, who owns them, their assumptions and limitations, and what deficiencies exist and how they are mitigated.
- Oversee the monitoring of model validation identified Findings through resolution(s), and sufficient and timely reporting to management as required.
- Leverage disparate data sources to develop insightful and thought-provoking reporting for management, management oversight committees, and the Board of Directors.
- Assist with the development and administration of Model Risk Management Policy, Program, and procedures as well as Model Risk training and education initiatives.
- Act as a subject matter expert for model owners on FRB and FDIC guidance and keep abreast of industry best practices for Model Risk Management.
- Identify opportunities and recommend solutions to improve the Model Risk Management framework.
- Support special projects as necessary.
Education & Experience
Knowledge of:
- Proficiency with Microsoft Office with intermediate experience in Excel and PowerPoint.
- At least two years of prior experience in the development, review, validation, or oversight of models used by financial institutions.
- Intermediate knowledge of FRB's SR 11-7 and the FDIC's FIL 22-2017.
- Analytical and strategic thinking with attention to detail.
- Excellent written, communication, organizational, and interpersonal skills.
Ability to:
- Work independently and in a team.
Education and Training:
- Bachelor's Degree in Finance, Economics, Accounting or a related field (equivalent experience may be considered).
Remote eligible in Delaware, Florida, Illinois, Indiana, Massachusetts, Missouri, and Ohio.
Busey values a diverse and inclusive workplace and strives to recruit, develop and retain individuals with exceptional talent. A team with diverse talent, working together, is essential to Busey's commitment of delivering service excellence. Busey is an Equal Opportunity Employer including Disability/Vets. Visit Busey.com/Careers to learn more about Busey's Equal Opportunity Employment.
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