The Model Risk Officer II role will be responsible for ongoing assessment of the model risk management framework with respect to regulatory guidelines and expectations. Functional responsibilities include: Ensuring effective challenge of models, overseeing model development and implementation, evaluating model results and taking prompt remedial actions, managing prioritization, scope and frequency of validation activities, evaluating model risk by highlighting the impact of potential deficiencies and weaknesses in model usage, reporting key findings and limitation to Model Risk Manager. Experience with Fraud model, marketing models, AI/ML models or Cybersecurity models is a strong advantage.
Position Responsibilities
- Conduct independent model validation, including evaluating model conceptual soundness and developmental evidence, assessing key model assumptions and data quality, checking model's accuracy, demonstrating model is robust and stable, evaluating the model's behavior over a range of input values, identifying potential model limitations, key model risks and mitigations, assessing acceptability of model development documentation, and writing high-quality model validation reports.
- Defend all aspects of the validations to Internal Audit and the Federal Reserve.
- Assist model validation manager in project planning, standardizing model validation procedures, coordinating with business partners such as model development teams and model implementation teams, providing support and training to validation officers, and other projects deemed necessary by manager.
- Previous familiarity with models such as Fraud models, marketing models, stress testing models, market risk models, AI/ML models etc. is preferred.
Position Qualifications
- Ph.D. or Master's degree from an accredited university in a quantitative field such as statistics, operations research, quantitative finance, econometrics, applied mathematics, computer science, or engineering
- 4 years of experience at a financial institution with experience in either model development or model validation (Fewer years of experience will be considered for candidates with higher academic qualifications or certifications such as a PhD or CFA)
- Programming experience with SAS, Python, R, and SQL
Work Best Category
Category C - Days in the office will either be designated days or will vary week to week from 2-5 days
Hours
8:00am - 5:00pm Monday - Friday
Salary
To Be Determined Based on Individual Experience
About Comerica
We know our employees are critical to our overall success and we are dedicated to investing in their future. One of the ways we do this is to offer a comprehensive Total Rewards package designed to recognize and reward individual performance, as well support health, well-being, development and security for our colleagues and their family. Total Rewards consists of cash compensation, development and flexible benefit programs designed to meet individual needs today and in the future. Your salary will be commensurate with your work experience and our programs are reviewed regularly to ensure each remain competitive. We are proud to offer benefits such as health and welfare programs, strong retirement benefits, and generous paid time off programs. You and your eligible family members, including domestic partners and their children, can participate in medical, dental, and vision benefits, 401(k) and pension, income protection benefits such as life insurance, AD&D, and supplemental health programs to offset unexpected health care expenses. We also have a variety of time off programs for things like vacation, sick time, disability, and parental leave. Eligibility for some programs varies based on employment status and tenure.
Upon offer, Comerica conducts a comprehensive background and fingerprint check. Your fingerprints will be used to check the criminal history records of the FBI and may be subscribed in the FBI’s Record of Arrest and Prosecution Background (“RAP Back”) service, which provides ongoing notification to the Company of any updates to your criminal history.
NMLS certification requirement: where applicable, a favorable background check screening, credit check, fingerprint check, and NMLS certification is required in accordance with the SAFE Act.
Comerica Incorporated (NYSE: CMA) is a financial services company headquartered in Dallas, Texas, and strategically aligned into three major business segments; the Commercial Bank, the Retail Bank, and Wealth Management. Comerica's colleagues focus on relationships, and helping people and businesses be successful. In addition to Texas, Comerica Bank locations can be found in Arizona, California, Florida and Michigan, with select businesses operating in several other states, as well as in Canada and Mexico.
Comerica is proud to be an Equal Opportunity Employer – disability/veteran.
