Head of Model Risk Governance

9 Minutes ago • 8 Years + • Risk Management • $129,500 PA - $212,750 PA

Job Summary

Job Description

The Head of Model Risk Governance is a critical role within the Model Risk Management team, overseeing products like life, annuity, disability, group business, and AI, with a focus on statutory and economic frameworks. This position also involves assumption governance due to the interconnectedness of models. The role requires effective collaboration with internal teams and business areas. Key responsibilities include overseeing model and assumption governance operations, contributing to model risk mitigation strategy, communicating policies, maintaining the Model Risk Management Policy, overseeing external validations, and managing model and assumption inventories.
Must have:
  • Oversee and execute the model and assumption governance operations of the company.
  • Contribute to the holistic strategy of mitigating model risk.
  • Communicate with targeted internal audiences and other stakeholders to ensure alignment with the model risk management policy.
  • Maintain the Model Risk Management Policy, as well as develop and manage other supporting standards, guidelines, and various templates and playbooks.
  • Oversee the validation work performed by external consultants.
  • Organize and engage in meetings with the modeling teams and other relevant stakeholders to review and understand model descriptions, features, assumptions, processes, and control procedures.
  • Assist in the mitigation of any potential future misstatements or inaccuracies through facilitating optimal model and process design and implementation of preventative and detective controls.
  • Steward the ongoing development and maintenance of the governance, risk, and compliance system.
  • Manage the model and assumption inventories and ensure they are complete and accurate.
  • Facilitate the management of the data, input, and process inventories and their connectivity to the model inventory.
  • Manage the model findings inventory and ensure certifications, corrections, and other appropriate actions are executed in a timely and effective manner.
  • Oversee the model request and change management process.
Good to have:
  • Strong preference for FSA or ASA credentials.
Perks:
  • Support and flexibility to achieve professional and personal goals.
  • Skill-building opportunities.
  • Leadership development opportunities.
  • Philanthropic opportunities.
  • Opportunities to build communities.
  • Contemporary, supportive, flexible, and inclusive benefits and resources.

Job Details

The Head of Model Risk Governance position is a crucial role on the Model Risk Management team, which oversees a scope of products including but not limited to life, annuity, disability, group business, and artificial intelligence, with a focus on statutory and economic frameworks. Given the connectedness of models and assumptions, the role also entails oversight of assumption governance. Effective collaboration and engagement amongst the internal team as well as with the various business areas is essential towards achieving success in this role.

You will

  • Oversee and execute the model and assumption governance operations of the company.
  • Contribute to the holistic strategy of mitigating model risk, which includes the ongoing development, socialization, and rollout of the target state vision.
  • Communicate with targeted internal audiences and other stakeholders to ensure alignment with the model risk management policy and foster a company culture that understands and adheres to model risk management best practices.
  • Maintain the Model Risk Management Policy, as well as develop and manage other supporting standards, guidelines, and various templates and playbooks.
  • Oversee the validation work performed by external consultants to ensure validations are completed with the highest quality and within the established timelines.
  • Organize and engage in meetings with the modeling teams and other relevant stakeholders to review and understand model descriptions, features, assumptions, processes, and control procedures, and challenge for weaknesses and identify and propose opportunities for improvement.
  • Assist in the mitigation of any potential future misstatements or inaccuracies through facilitating optimal model and process design and implementation of preventative and detective controls.
  • Steward the ongoing development and maintenance of the governance, risk, and compliance system.
  • Manage the model and assumption inventories and ensure they are complete and accurate.
  • Facilitate the management of the data, input, and process inventories and their connectivity to the model inventory.
  • Manage the model findings inventory and ensure certifications, corrections, and other appropriate actions are executed in a timely and effective manner.
  • Oversee the model request and change management process.

You are

  • A self-motivated person, able to work independently.
  • A strategic thinker, with the ability to “connect the dots” across the organization, and develop creative solutions to dynamic, complex, and unique business challenges.
  • A trusted partner who can build strong and effective relationships across a wide range of stakeholders and customers.
  • Technically proficient regarding model and process infrastructure as well as being an effective communicator.
  • Results-oriented and able to execute tasks efficiently.

You have

  • 8+ years of experience in the insurance or financial services industry, preferably with experience in risk management.
  • Strong preference for FSA or ASA credentials.
  • Very strong technical and organizational skills.
  • Proven leadership, critical thinking, and communication skills.
  • The ability to accelerate impact and the desire to lead change.

Reporting Relationship

You will report to the Head of Model and Data Risk Management, who reports to our Head of Financial Risk Management.

Location

Hybrid role - 3 days in office in the Hudson Yards, NYC office; 2 days WFH

Salary Range:

$129,500.00 - $212,750.00

The salary range reflected above is a good faith estimate of base pay for the primary location of the position. The salary for this position ultimately will be determined based on the education, experience, knowledge, and abilities of the successful candidate. In addition to salary, this role may also be eligible for annual, sales, or other incentive compensation.

Our Promise

At Guardian, you’ll have the support and flexibility to achieve your professional and personal goals. Through skill-building, leadership development and philanthropic opportunities, we provide opportunities to build communities and grow your career, surrounded by diverse colleagues with high ethical standards.

Inspire Well-Being

As part of Guardian’s Purpose – to inspire well-being – we are committed to offering contemporary, supportive, flexible, and inclusive benefits and resources to our colleagues. Explore our company benefits at www.guardianlife.com/careers/corporate/benefits

. Benefits apply to full-time eligible employees. Interns are not eligible for most Company benefits.

Equal Employment Opportunity

Guardian is an equal opportunity employer. All qualified applicants will be considered for employment without regard to age, race, color, creed, religion, sex, affectional or sexual orientation, national origin, ancestry, marital status, disability, military or veteran status, or any other classification protected by applicable law.

Accommodations

Guardian is committed to providing access, equal opportunity and reasonable accommodation for individuals with disabilities in employment, its services, programs, and activities. Guardian also provides reasonable accommodations to qualified job applicants (and employees) to accommodate the individual's known limitations related to pregnancy, childbirth, or related medical conditions, unless doing so would create an undue hardship. If reasonable accommodation is needed to participate in the job application or interview process, to perform essential job functions, and/or to receive other benefits and privileges of employment, please contact applicant_accommodation@glic.com

.

Current Guardian Colleagues: Please apply through the internal Jobs Hub in Workday.

About Guardian

Every day, Guardian helps our 29 million customers realize their dreams through a range of insurance and financial products and services. Our Purpose, to inspire well-being, guides our dedication to the colleagues, consumers, and communities we serve. We know that people count, and we go above and beyond to prepare them for the life they want to live, focusing on their overall well-being — mind, body, and wallet. As one of the largest mutual insurance companies, we put our customers first. Behind every bright future is a GuardianTM. Learn more about Guardian at guardianlife.com

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About The Company

Every day, Guardian helps our 29 million customers realize their dreams through a range of insurance and financial products and services. Our Purpose, to inspire well-being, guides our dedication to the colleagues, consumers, and communities we serve. We know that people count, and we go above and beyond to prepare them for the life they want to live, focusing on their overall well-being — mind, body, and wallet. As one of the largest mutual insurance companies, we put our customers first. Behind every bright future is a GuardianTM.

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