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 ManagementAssist 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 customer\xe2\x80\x99s MRM policy/procedures expectationsCoordinate 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 projectsEnsure the model inventory is complete and meta data regarding models is accurately captured in the model inventory management systemConduct training sessions to educate our larger organization about the model risk management program and related expectationsMaintain an up-to-date knowledge of new trends in analytics and suggest enhancements to the program so that model risk can be appropriately managedResearch industry best practices around model risk management (from a vendor perspective) and identify areas where current program can be enhancedProvide guidance to internal stakeholders pertaining to model development, validation, implementation, performance monitoring, usage, retirement standards, guidelines, and proceduresEssential Skills & Qualifications10+ 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 requirements10+ years experience with MRM governance and enterprise-wide risk managementA strong knowledge of control design, implementation, testing, and documentationAn in-depth knowledge of relevant regulations such as SR 11-7, SR 15-18/19, SS1/23, and Basel Final rulesConfident, articulate, and professional communication abilitiesFamiliarity with AI/ML model 2/interpretability toolkits for enabling explainable models involving decision trees, Random Forest, XGBoost, LightGBM, etc. would be considered an assetA bachelor\'s degree, or master\xe2\x80\x99s degree in any STEM field (engineering, math, computer science, etc.) would be an assetWhat does success look like in this role?Assisting customers through model validation successfully and in a timely manner during a customer\xe2\x80\x99s onboarding projectOur customer and internal partners see you as a trustworthy resource, with whom they can share their concerns and celebrate their successesYou are consistently bringing new ideas to the team and working on process improvementsThis role will close on April 7th at 11:59pm NSTAfter 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 AreNasdaq 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.

Nasdaq