Model Risk Coordinator

BB&T is expanding their MODEL RISK MANAGEMENT team to help with the validation of its proprietary and "off-the-shelf" models currently in use. We are actively seeking Model Validation Team Lead candidates who possess extensive CREDIT RISK and MARKET RISK experiences.

Under the general supervision of BB&T’s Model Risk Management Manager, the Model Risk Coordinator isresponsible for advanced-level model risk validation, aggregation, and management for one of the following enterprise-wide model families: credit, market risk, or economic capital / other.Ensure validations are performed in compliance with OCC 2000-16, FRB SR 2011-07, and BB&T’s model validation policy and standards.Provides senior and executive management with the necessary knowledge, tools and guidance to evaluate model risk and implement adequate model risk management controls for the particular family of related models. Interact and communicate with line of business (LOB) managers and risk managers who own and operate models, with internal audit, and with BB&T’s regulators.

Oversee BB&T’s highest risk and most complex models within a model family to effectively challenge both modeling concepts and implementation with emphasis on applicability, relevancy, and reliability through time.Evaluate model controls, model data, dependencies among related models, and serve as a resource for all Enterprise Risk Management (ERM) model risk management-related tasks.

Essential Duties and Responsibilities:

1.For a particular model family (credit, market risk, or economic capital/other), manage corporate-wide model risk management activities, including the effective challenge of assumptions, calculations, and output (for reports and decision-making). Maintain model family inventory and assist with the determination of periodic review and validation schedule, as per FRB SR 2011-07.

2.Depending upon the model family, independently perform and lead advanced model reviews and validations on BB&T’s highest risk and most complex models related to asset-liability management (ALM); value at risk (VaR); economic capital; derivative valuation and hedging; and credit ratings and risk.This involves assessing the model’s overall suitability to its intended purpose, evaluating the model’s mathematical theory and constructs, testing its assumptions, data and calculations, making recommendations for improvements, thoroughly documenting all work and producing a formal report on the results.

3.Manage, coordinate, and assist in all responsibilities of the Model Risk Management Analyst(s), level I and II, with the particular group. Provide coaching, mentoring, and direction as needed.

4.Responsible for suggesting enhancements to the model validation process, as appropriate, to stay current with industry practices/trends.

5.Work with management to determine the risk classifications of models, the appropriate validation personnel and the implications of validation results, and evaluate the adequacy of change management, access control and overall model risk management throughout BB&T.

6.Work closely with model owners to ensure remediation plans are completed, in a timely manner, to close gaps based on validation results.

7.Recruit, develop, and retain high-performing team members.Develop knowledge, skills and abilities of the Model Risk Management Analysts.This includes delivering personal development plans (PDPs) and implementing salary, officer and other personnel-related changes.

8.Serve as a resource for the corporation in all model risk management initiatives, including change management, access control, and documentation.Assist the lines of business in complying with the Model Policy and Standards and serving as a consultant on model related projects, performing advanced quantitative analysis on models in development or models undergoing enhancements/rebuilds.

9.Promote model risk management awareness. This may include presentations at staff meetings throughout the corporation or producing educational material.

10.Periodically communicate to and from Executive Management and LOBs to facilitate the institution’s aptitude and awareness of model risk throughout BB&T.

11.Within the assigned model family, represent ERM on various projects involving development of new Tier One and Tier Two models to help develop and foster the process of incorporating model risk standards into new model development efforts.This includes, but is not limited to, Basel II, economic capital, stress testing and risk grading models.

12.Develop fundamental knowledge of core bank and subsidiary operational processes for assigned LOBs which own models.

Required Skills and Competencies:

1.Excellent communication (verbal and written), organizational, and interpersonal skills

2.Advanced degree in math, statistical modeling, computational finance, economics, business or related field, or equivalent education and related training

3.Ability to challenge concepts and implementation while maintaining a positive relationship with model owners and users

4.Adaptability and the ability to work on a diverse set of projects and interact with a diverse set of analysts and managers throughout the corporation

5.Six years of model development and/or validation experience, analytical experience, or directly-related work experience combined with aptitude for analysis and the ability to learn quickly

6.One year of experience managing a group

7.A strong grasp, most likely through two to four years experience in a large financial institution, of one or more financial modeling disciplines, such as asset-liability management, term structure modeling, derivatives pricing theory, value-at-risk, hedging theory, quantitative risk management, Monte Carlo simulation or forecasting techniques, or credit risk methods

8.One year of computer programming experience

9.Advanced competency in Microsoft Office, especially Excel

10.Must have experience with development of testing methodologies and creation of work papers

11.High attention to detail and ability to think at the organizational level

12.Demonstrated project management skills and the ability to work on multiple projects on a concurrent basis and be able to meet deadlines

13.Ability to travel, occasionally overnight

Desired Skills:

1.Ph.D. in quantitative finance, mathematics, statistics or a related field

2.Ten years of model development and / or validation experience

3.Excellent presentation skills

4.Experience with credit or market (trading or ALM) transactions

5.Expertise in Microsoft Excel and databases and advanced competency programming in languages, e.g., VBA, SAS, Matlab

6.Three years of experience managing a group

Qualified candidates email resume' and salary requirement toCharles.Rogers@bbandt.com or apply online at www.bbt.com/CAREERS (job #369878). EOE/M/F/D/V.