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MANAGER MODEL RISK MANAGEMENT

WHAT IS THE OPPORTUNITY?

MRM group within CNB's Enterprise Risk Management is responsible for management, assessment, measurement, and reporting on model risk. This position will be responsible for supporting the development and operation of City National Bank's (CNB's) Model Risk Management (MRM) program as prescribed by CNB's Management Risk Committee and CNB CRO and will operate under RBC CUSO model risk management framework.This includes model validation and model governance activities. The MRM Manager will work collaboratively with Enterprise Model Risk Management leadership to help oversee and support enterprise governance structure for model risk at CNB, manage internal model validation activities and supervise external model validations. The MRM Manager will supervise a team of model risk validation analysts performing validations of models covering a wide range of financial instruments and business use cases with primary focus on models used for managing banking functions (credit, interest rate, liquidity, market and operational risks). This position reports to Manager of Enterprise Risk Management.

What you will do

• Establish and maintain the appropriate level of controls to mitigate model risk at CNB;

• Support the implementation of RBC CUSO model risk management framework managed by Enterprise Head of Model Risk and Head of Model Risk Governance and ensure consistency across CNB units;

• Ensure appropriate resources are assigned for validation work, and guide the scope and prioritization of validation work for CNB models;

• Establish and maintain ongoing analysis of CNB’s model risk profile and trends, inclusive of metrics regarding the status of model risk management at CNB and provide periodic updates to senior and executive management, and relevant risk committees;

• Represent CNBs interests during the internal and external regulatory examinations on model risk management;

• Supervise a team of model risk validation analysts performing reviews and testing of bank models and model risk governance analysts performing measurement and reporting on model risk.

Must-Have*

• Bachelor's Degree or equivalent

• Minimum 8-10 years combined experience in quantitative model development and/or model validation within model risk management.

• Minimum 5 years of experience within quantitative model development and/or model validation and/or analytics for financial and bank focused products.

• Experience in an OCC regulated bank environment. Experience with regulatory examinations on model risk management.

• Experience managing a team of quantitative analysts/model developers/model validators.

Skills and Knowledge

• Thorough knowledge of regulatory requirements on model risk such as FRB SR 11-7 and OCC 2011-12.

• Advanced degree (Masters or PhD) in a quantitative discipline, such as Financial Engineering, Finance, Economics, Mathematical Finance, Statistics, Mathematics, Operations Research, etc. Industry certifications are a plus (e.g., CFA, FRM) but not required

• Proven track record of strong technical model development, model validation, and model development/validation oversight. Prior experience in building or validating multiple types of mathematical models is required.

• Demonstrated ability to think critically and facilitate change through collaborative effort. Strong interpersonal, verbal, and written communication skills.

• Prior programming experience with modeling software applications and programming languages such as R, Python, SQL preferred

• Expert knowledge of MS office applications such as Excel, Word, Power Point preferred

Compensation

Starting base salary: $122,535 - $208,715 per year. Exact compensation may vary based on skills, experience, and location. This job is eligible for bonus and/or commissions.

*To be considered for this position you must meet at least these basic qualifications

The preceding job description has been designed to indicate the general nature and level of work performed by employees within this classification. It is not designed to contain or be interpreted as a comprehensive inventory of all duties, responsibilities, and qualifications required of employees assigned to this job.

Benefits and Perks

At City National, we strive to be the best at whatever we do, including the benefits and perks we offer our colleagues. Get an inside look at our Benefits and Perks (https://image.emails.cnb.com/lib/fe5e15707c640c78771c/m/10/cbedd856-c2fc-491b-a625-3ab7a0fd9a65.pdf) .

INCLUSION AND EQUAL OPPORTUNITY EMPLOYMENT

City National Bank is an equal opportunity employer committed to diversity and inclusion. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, disability, veteran status or any other basis protected by law.'

ABOUT CITY NATIONAL

We start with a basic premise: Business is personal. Since day one we've always gone further than the competition to help our clients, colleagues and community flourish. City National Bank was founded in 1954 by entrepreneurs for entrepreneurs and that legacy of integrity, community and unparalleled client relationships continues to drive phenomenal growth today. City National is a subsidiary of Royal Bank of Canada, one of North America’s leading diversified financial services companies.