Model Risk Governance Specialist

Job summary

Oversee model governance, inventory management, issue remediation, regulatory reporting, and compliance with regulatory requirements and internal standards. Maintain MRM policies and controls, coordinate attestations and effective challenge exercises, and report model risk status and remediation progress to stakeholders, senior management, internal audit, and regulators.

Job details

Role:- Model Risk Governance Specialist Location: Montreal, Quebec, Canada (Hybrid)Job Type: Contract Duration: 3 Months About the Role:- We are seeking a Model Risk Governance Specialist to join the Risk Independent Review & Control (RISK IRC) team in Montreal. This team operates as an independent second line of defense within the Risk organization, overseeing model risk management and ensuring compliance with regulatory requirements and internal standards. The successful candidate will support model governance, inventory management, issue remediation, regulatory reporting, and the continuous enhancement of the Model Risk Management (MRM) framework. Key Responsibilities Ensure compliance with regulatory requirements and internal model risk management standards, including applicable Federal Reserve guidance. Prepare and present reports on model risk status, outstanding issues, and remediation activities to senior management, internal audit, and regulators. Coordinate with model validators and stakeholders to integrate model risk management practices into model development and validation processes. Maintain and update the model inventory in accordance with MRM decisions. Manage the model recommendations and remediation inventory, ensuring timely resolution of findings. Coordinate annual model attestations with business lines and oversee effective challenge exercises to ensure model inventory completeness and accuracy. Develop, review, and maintain model risk policies, standards, and procedures. Deliver training and guidance on model risk management principles and best practices. Support the annual Risk and Control Self-Assessment (RCSA) for RISK IRC Americas. Document and monitor permanent controls to strengthen the effectiveness of the MRM framework. Required Qualifications Bachelor's or Master's degree in Finance, Economics, Mathematics, Statistics, or a related discipline. At least 3 years of experience in model risk management, preferably within financial services. Strong analytical, organizational, and problem-solving skills. Ability to manage multiple priorities and meet tight deadlines. Excellent stakeholder management, communication, and reporting skills. Strong proficiency in Microsoft Excel, Word, PowerPoint, and Outlook. Fluency in English. Preferred Qualifications Programming experience in Python. Knowledge of AI model governance or model validation. Understanding of regulatory guidance on model risk management and banking regulations. Experience with model inventory databases and management systems. Experience working with model validators and internal audit teams. Experience drafting and maintaining policies and procedures. Relevant Skills Model Risk Management (MRM) · Model Governance · Model Validation · Regulatory Compliance · Model Inventory Management · Risk Reporting · Issue Remediation · Effective Challenge · RCSA · Operational Risk · Python · Stakeholder Management

What you’ll do

Oversee model governance, inventory management, issue remediation, regulatory reporting, and compliance with regulatory requirements and internal standards. Maintain MRM policies and controls, coordinate attestations and effective challenge exercises, and report model risk status and remediation progress to stakeholders, senior management, internal audit, and regulators.

Requirements

A bachelor's or master's degree in finance, economics, mathematics, statistics, or a related discipline is required, along with at least three years of model risk management experience, preferably in financial services. Candidates should have strong analytical, organizational, communication, reporting, and stakeholder management skills, proficiency in Microsoft Office, and English fluency; Python and knowledge of AI governance or model validation are preferred.

Listed skills

• Regulatory Compliance · Preferred
• Python · Preferred
• Stakeholder Management · Preferred
• Policy development · Preferred
• Microsoft Excel · Preferred
• Microsoft Word · Preferred

Other relevant skills

Identified from the job description. Confirm important requirements above.

• Model Risk Management
• Model Governance
• Model Validation
• Regulatory Compliance
• Model Inventory Management
• Risk Reporting
• Issue Remediation
• Effective Challenge
• Risk And Control Self-Assessment
• Operational Risk
• Python
• Stakeholder Management
• Policy Development
• Microsoft Excel
• Microsoft Word
• Microsoft PowerPoint

Job areas

• Finance & Accounting
• Data & Analytics
• Management & Leadership

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