Model Risk Mgmt Governance Sr. Lead Analyst

Job description

## **Discover your future at Citi** Working at Citi is far more than just a job. A career with us means joining a team of more than 230,000 dedicated people from around the globe. At Citi, you’ll have the opportunity to grow your career, give back to your community and make a real impact. ## **Job Overview** **Role Summary** This is a senior individual contributor role within the first-line-of-defense (1LoD) that plays a lead operational role in executing and maintaining the business line's compliance with the enterprise-wide Model Risk Management (MRM) Policy. This role owns end-to-end governance activities across the model lifecycle, acting as a subject matter expert and primary day-to-day liaison with Model Sponsors, Model Developers, and the second-line-of-defense (2LoD) Independent Risk Management (IRM) organization. This role operates with a high degree of independence, exercises sound judgment on complex model risk matters, and supports the Head of MRM Governance (C14) in delivering strategic objectives for the function. **Key Responsibilities** **Framework Execution & Advisory:** - Execute and monitor the business line's adherence to the Citi MRM Policy, Standard, and Execution Manual, identifying gaps and recommending corrective actions. - Serve as a subject matter expert and day-to-day point of contact for Model Sponsors on policy interpretation and governance requirements. - Represent the business line in working-level meetings with the central MRM organization and support preparation for Internal Audit and regulatory engagements. - Prepare materials, briefings, and updates for Segment Model Risk Councils on behalf of the Head of MRM Governance. **Model Lifecycle Governance:** - **Model Identification:** Lead the ongoing process to identify quantitative methods, systems, and approaches that may qualify as models; assess scope and coordinate submissions to MRM for determination. - **Development & Documentation:** - Partner closely with Model Sponsors to ensure Model Development Documents (MDDs) are complete, accurate, and of high quality prior to submission for validation. - Review documentation for conceptual soundness, data usage, and performance substantiation, providing detailed feedback and guidance to model owners. - Coordinate governance requirements for vendor models, ensuring equivalent standards are applied. - **Validation & Remediation:** - Manage the end-to-end coordination of model validation activities, including initial validations, annual reviews, and ongoing validations. - Track and drive the timely remediation of model limitations and validation findings; develop detailed action plans and monitor progress against due dates. - Escalate at-risk remediations to the Head of MRM Governance with recommendations for resolution. - **Implementation & Use:** - Review model implementation evidence to confirm deployment in approved, controlled production environments (e.g., CSI, RPA, EUC) and that implementation testing is appropriately completed. - Monitor model usage to ensure alignment with approved purposes; review, document, and escalate any model overlays for appropriate justification and approval. - **Ongoing Monitoring:** - Coordinate the ongoing performance monitoring (OPA) schedule for the model portfolio, ensuring Model Sponsors adhere to required frequencies (Quarterly/High, Semi-Annually/Medium, Annually/Low). - Analyze monitoring results to identify performance trends or degradation signals, and recommend or escalate actions as appropriate. - **Model Change & Retirement:** - Manage the governance process for model methodology, implementation, or usage changes, ensuring documentation and MRM approval are obtained prior to implementation. - Facilitate the formal retirement process for decommissioned models, ensuring all records are updated accordingly. **Inventory, Attestation & Reporting:** - Maintain and continuously validate the completeness and accuracy of the business line's model inventory within the Citi Risk Model Risk Management System (MRMS). - Lead the execution of the semi-annual model inventory attestation process, coordinating with Model Sponsors and compiling outputs for senior review. - Manage the end-to-end process for Policy Dispensation requests and ensure Policy Breaches are identified, documented, escalated, and remediated in a timely manner. - Produce management reporting on the health of the model portfolio, including key risk indicators, finding aging, and monitoring status. **Stakeholder Engagement & Mentorship:** - Act as a mentor and technical resource to junior professionals, reviewing their work and providing guidance on complex matters. - Foster a culture of model risk awareness and accountability across model-owning teams. **Qualifications** - 12+ yrs of experience with atleast **7–10 years** of experience in risk management, quantitative analysis, model risk governance, or a related field within a large, complex financial services firm. - Strong working knowledge of model risk management principles, regulatory guidance, and the full model lifecycle. - Demonstrated experience coordinating complex governance processes and managing multiple workstreams concurrently. - Proven ability to engage and influence stakeholders at various levels, including Model Sponsors and business managers. - Strong analytical and problem-solving skills, with the ability to assess model documentation and identify substantive gaps or risks. - Excellent written and verbal communication skills, with experience producing high-quality management reports and presentations. - Working Environment: office setting, minimal travel required. - Effort: minimal physical effort required. - ## **Job Family Group:** Product Management and Development - ## **Job Family:** Product Management - ## **Time Type:** Full time - ## **Most Relevant Skills** Please see the requirements listed above. - ## **Other Relevant Skill