Position Summary
As a Model Governance Risk Analyst (MGRA) II, 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
- Lead the management of the Company's Model Risk Management (MRM) inventory of models and non-models, ensuring completeness and accuracy of the model inventory, timely completion of required actions, and compliance with the MRM Policy and Program.
- Maintain the MRM module within the Company's Archer GRC platform.
- Be well-versed in the Company's universe of models, including their usage, ownership, assumptions, limitations, and existing deficiencies and their mitigations.
- Manage the inventory of MRM Program metrics and model-specific metrics, reporting on Program and model performance periodically.
- Act as the subject matter expert for model owners on FRB and FDIC guidance and stay updated on industry best practices for Model Risk Management.
- Oversee the monitoring of model validation findings through resolution(s) and ensure timely reporting to management as required.
- Leverage disparate data sources to develop insightful quarterly reporting for management, oversight committees, and the Board of Directors.
- Organize MRM Working Group meetings, including agendas, materials, and coordination with guest presenters.
- Present quarterly updates to the MRM Working Group.
- Assist with the development and administration of Model Risk Management Policy, Program, and procedures, as well as Model Risk training and education initiatives.
- Transform the Company's Non-Model/EUC Program to align with regulatory expectations and industry best practices.
- Lead the Non-Model/EUC annual reviews to ensure compliance with the Program.
- Lead the Tier IV model reviews, including evaluation of reasonableness, control framework, and model documentation.
- Collaborate with the Director of MRM to review model ongoing monitoring for assessing model performance and monitoring efforts.
- Lead the annual program gap analysis, recommending and implementing solutions to improve the MRM framework.
- Support special projects as necessary.
Education & Experience
Knowledge of:
- Proficiency in Microsoft Office with advanced experience in Excel and PowerPoint.
- Technical proficiency in R or Python.
- At least five years of prior experience in the development, review, validation, and oversight of models used by financial institutions.
- Advanced 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, Georgia, 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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