MetaBank Director, Credit Loss & Model Risk Management in Sioux Falls, South Dakota
The Director of Credit Loss and Model Risk Management with MetaBank will be responsible for oversight of all loss forecasting models, methodologies and policies, including the effectiveness of the models and methodologies being used to establish ALLL and migration to CECL requirements. Responsibilities also include oversight of all model risk governance policies, processes and methodologies to ensure compliant and sound models are being used across the entire bank.
Essential Job Functions:
- Develop ALLL and loss forecasting process for all commercial and consumer lending products
- Work closely with Accounting/Finance and Portfolio Analytics to ensure ALLL models are CECL standard ready and adequately assessing the reserve need given the risk inherent in the loan portfolios.
- Create Credit Loss Model and forecasting methodology, work with accounting and Portfolio Analytics on regular monitoring.
- Develop framework for loss forecasting accuracy monitoring and reserve adequacy.
- Conduct industry research to study peer ALLL performance.
- Work closely with senior management to effectively establish the Model Risk Management framework.
- Develop and maintain corporate Model Risk Management policies and related procedures for all divisions, portfolios and tools under management. Review and update policies as needed or as directed by the board of directors.
- Independently or with internal partners, perform testing for all models determined to be under the model risk management framework.
- Work with the Portfolio Risk team to generate proper reporting and analysis to effectively communicate with senior and executive management and the governing committees and boards the risk implications of the changes in KRI’s over time.
- Provide the bank’s Model Validation Committee with documentation and monthly reports.
- Work closely with the product development group on new initiatives. Provide risk input on new products/services/strategies being considered by product or business management.
- Propose acceptable changes to policy in support of new product development and / or new product feature or functionality. Work closely with legal and compliance departments to craft policies and procedures within applicable laws and regulations.
- Perform other duties as assigned.
- Bachelor’s degree in quantitative field (such as Math, Statistics, Economics) required.
- Master’s degree strongly preferred.
- 10 years of experience in loss forecasting, ALLL management or finance
- 10 years of experience in model risk management or similar risk management role.
- 10 years of experience supporting credit card, installment loan, auto loan and or mortgage credit management and operations.
- Demonstrated, extensive experience in quantitative experience required.
- Prior experience in enterprise risk management in financial sector
- Prior experience with B2C and B2B lending required.
- Prior experience in preparing reports and documentation for regulatory oversight.
- Prior experience in portfolio acquisition welcome.
- Prior experience in credit management and underwriting welcome.
To succeed in this role, an individual must be able to perform each essential job function satisfactorily. The requirements listed in this description are representative of the knowledge, skill and/or ability required. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential job functions.
Note: Management reserves the right to assign or reassign functions and responsibilities to this job description at any time.
MetaBank is an Equal Opportunity Employer/Disabled/Veterans
Location: Sioux Falls, SD