Senior Model Risk Manager

New York, New York, United States

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Not SpecifiedCompensation

Senior (5 to 8 years), Expert & Leadership (9+ years)Experience Level

Full TimeJob Type

UnknownVisa

Fintech, Financial Services, Financial ServicesIndustries

Requirements

Candidates should possess a Bachelor's degree in Statistics, Mathematics, Computer Science, Engineering, Finance, or a related field, with a Master's degree or PhD being preferred. A minimum of 6-8 years of experience in model risk management, model development, or a related quantitative field is required. Experience with AML and sanctions models, including transaction monitoring, customer risk scoring, and sanctions screening, is essential. Familiarity with regulatory expectations such as SR 11-7, BSA/AML, OFAC, FATF, and FinCEN is necessary. Knowledge of emerging modeling techniques like behavioral analytics and machine learning is also expected.

Responsibilities

The Senior Model Risk Manager will lead the validation, monitoring, and governance of rule-based detection models, data pipelines, vendor models, and ML/AI models. Responsibilities include performing independent model validation, assessing model methodologies, data integrity, assumptions, implementation, and output. The role involves supporting monitoring plans for model performance, leading periodic model reviews, and tracking model inventory and issue remediation. Additionally, the manager will recommend risk mitigation strategies, participate in issue tracking and remediation validation, and prepare model validation reports for stakeholders. They will also partner with compliance and legal teams to ensure model alignment with regulatory standards and champion model risk management principles across the organization.

Skills

Model Validation

Model Monitoring

Model Governance

AML

Sanctions Screening

Transaction Monitoring

Customer Risk Scoring

Machine Learning

Risk Analytics

Data Integrity

Behavioral Analytics

Mercury

Banking services for startups and founders

About Mercury

Mercury provides banking services specifically designed for startups, regardless of their size or stage of development. Their offerings include free checking and savings accounts, debit and credit cards, and options for domestic and international wire transfers, as well as treasury and venture debt services. The platform is user-friendly, allowing founders to manage their finances with ease. What sets Mercury apart from traditional banks is its focus on the startup community, offering programs that connect founders with valuable resources and advice to help them succeed. The goal of Mercury is to empower startups by providing them with the financial tools and support they need to grow and thrive.

San Francisco, CaliforniaHeadquarters

2017Year Founded

$146.8MTotal Funding

DEBTCompany Stage

Fintech, Financial ServicesIndustries

1,001-5,000Employees

Benefits

Health, dental, & vision

Custom equipment setup

401(K) matching

12+ weeks paid parental leave

Book budget

Wellness benefits

Grocery budget

Paid lunch

Personalized callsign

Unlimited vacation policy (with mandatory minimum)

Risks

Mercury's decision to stop serving certain countries may lead to customer loss.

Integration challenges from the Teal acquisition could disrupt services.

Expansion into consumer banking might divert focus from core startup services.

Differentiation

Mercury offers both business and personal banking services, unlike many fintech competitors.

The company provides integrated financial management tools, enhancing startup operational efficiency.

Mercury's Raise program connects startups with investors, mentors, and other founders.

Upsides

Mercury secured a $100 million credit warehouse to expand its credit card business.

The acquisition of Teal enhances Mercury's financial management offerings for startups.

Mercury Personal expands market reach by attracting tech-savvy individuals.

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