Job Description

Verafin is a cutting-edge software company focused on delivering next generation fraud and money laundering solutions to financial institutions across North America. Our rapid growth and continuing success mean we have an opening for a Model Risk Management Lead to join our team.
As the Model Risk Management Lead, you will be responsible for developing and maintaining Corporate Model Risk Management Policy and Procedures in supporting the biggest financial institutions in North America! In this role you will champion the model governance framework across the business, while maintaining the corporate model inventory and model risk technological tools. We are looking for a self-motivated specialist in Model Risk Management to provide exceptional service and build rapport with key internal and external contacts as you complete complex customer projects.
Role Responsibilities:
Work closely with customers to facilitate and consult on their Model Risk Management
Assist in the design, development, and implementation of model governance processes to ensure all models are managed in accordance with the regulatory requirements across different jurisdictions such as SR 11-7 (FRB)
Advise product development and data science teams on the customers MRM policy/procedures expectations
Coordinate with product development on the timely delivery of model documentation to the model validation, and work closely with other internal stakeholders to ensure the smooth execution of various processes and projects
Ensure the model inventory is complete and meta data regarding models is accurately captured in the model inventory management system
Conduct training sessions to educate our larger organization about the model risk management program and related expectations
Maintain an up-to-date knowledge of new trends in analytics and suggest enhancements to the program so that model risk can be appropriately managed
Research industry best practices around model risk management (from a vendor perspective) and identify areas where current program can be enhanced
Provide guidance to internal stakeholders pertaining to model development, validation, implementation, performance monitoring, usage, retirement standards, guidelines, and procedures
Essential Skills & Qualifications
10+ years experience in a risk management or an audit role at a large financial institution or agency and experience with MRM and Banking / AML regulatory compliance requirements
10+ years experience with MRM governance and enterprise-wide risk management
A strong knowledge of control design, implementation, testing, and documentation
An in-depth knowledge of relevant regulations such as SR 11-7, SR 15-18/19, SS1/23, and Basel Final rules
Confident, articulate, and professional communication abilities
Familiarity with AI/ML model 2/interpretability toolkits for enabling explainable models involving decision trees, Random Forest, XGBoost, LightGBM, etc. would be considered an asset
A bachelor's degree, or masters degree in any STEM field (engineering, math, computer science, etc.) would be an asset
What does success look like in this role?
Assisting customers through model validation successfully and in a timely manner during a customers onboarding project
Our customer and internal partners see you as a trustworthy resource, with whom they can share their concerns and celebrate their successes
You are consistently bringing new ideas to the team and working on process improvements
This role will close on April 7th at 11:59pm NST
After the purchase of Verafin by Nasdaq in 2021, we are excited to announce as of Jan 1st 2024 we have started to move toward becoming a fully integrated part of Nasdaq. The job you are applying for will be for the Verafin team as part of the larger Nasdaq organization. The folks involved in the recruitment process will be part of the Verafin team. If you are selected for an interview, we are happy to discuss any questions you may have related to these changes. Thank you for your interest in Verafin, a Nasdaq company.
Come as You Are
Nasdaq is an equal opportunity employer. We positively encourage applications from suitably qualified and eligible candidates regardless of age, color, disability, national origin, ancestry, race, religion, gender, sexual orientation, gender identity and/or expression, veteran status, genetic information, or any other status protected by applicable law.
We will ensure that individuals with disabilities are provided reasonable accommodation to participate in the job application or interview process, to perform essential job functions, and to receive other benefits and privileges of employment. Please contact us to request an accommodation.