Officer, Model and AI System Risk Management

Officer, Model And AI System Risk ManagementThe Officer, Model and AI System Risk Management will conduct various activities related to enterprise model risk validation and model governance for AI Systems, Machine Learning models, as well as conventional models. This individual is accountable for independently validating the technical and functional soundness of bank-wide models including AI Systems, Machine Learning, CECL, Stress Testing, Anti-Money Laundering, Economic Sanctions, Customer Risk Ratings, Fair Lending, as well as valuation models.What You'll DoPerform independent and comprehensive validation of bank-wide AI systems/Machine Learning/statistical/econometric/mathematical and qualitative (expert judgment) models in compliance with SR 26-02/OCC , Model Risk Management (MRM) policy, AI policy, and internal procedures.Develop a model validation testing plan commensurate with the model risk tier and perform quantitative and qualitative tests to assess models for conceptual soundness, implementation accuracy, data integrity, and performance accuracy, including back testing, sensitivity analysis, scenario analysis, benchmarking, and governance.Provide effective and meaningful challenges during the following processes of model validation: Review of conceptual soundness; Review adequacy of modeling data; Materiality analysis of model assumptions and limitations; Review of model theoretical framework and design; Review of model performance.Review of Model Documentation to ensure compliance with regulation/policy. Model documentation review should consist, amongst others, the following: Assessing the quality of model documentation; Reviewing documentation of developmental evidence; Review documentation of model governance; Review testing results in the model methodology document.Design and execute a comprehensive and granular program for the following: Data Validation; Model theoretical framework and design; Assumptions and Limitations testing; Model Conceptual soundness; Back-testing; Model Effectiveness Testing, Sensitivity Analysis; Benchmarking for material portfolios; and developing benchmark Machine Learning models.Maintain status updates and facilitate resolution/escalations of issues in a timely fashion.Use MRM Model Validation tool to perform model validation activities.The analyst in collaboration with the VP of Model Risk Management interfaces with key stakeholders throughout validation process to discuss justification and reasoning behind validation and review findings.Manage activities related to model governance and assist VP model risk management in creating reports for the senior management, executive management, risk committees, and regulatory exams.In collaboration with VP, Model Risk Management, determine whether response and remediation plan received from model owners and users in response to a finding adequately address findings.

Follow up with model owners to ensure findings are remediated in a timely manner.Qualifications2-5 Years of experience related to data science, AI systems, machine learning models, model development, and validation experience related to credit risk (Consumer and Commercial), Liquidity, Compliance (BSA/AML, Fair Lending), CECL.Master's degree or PhD preferred.BenefitsMedical Insurance • Dental • Vision • Life insurance • Accidental death and dismemberment • Short-term and long-term Disability Insurance • Parental Leave • Employee Assistance Program (EAP) • Traditional and Roth 401(k) with company match • Flexible Spending Account (FSA) • Employee Stock Purchase Plan at 5% discount • Critical Illness Insurance • Accident Insurance • Transportation and Commuting Benefits • Banking Benefits • Pet InsuranceCompensationThe estimated salary range for this role is $85,000-$110,000, along with eligibility to earn an annual bonus. Actual salaries may vary based on several factors, such as a candidate's qualifications, skills and experience.Wintrust Financial Corporation, including community banking and financial services subsidiaries, is an Equal Opportunity Employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, age, national origin, disability, veteran status, genetic information, and other legally protected categories.