Assistant Vice President - Model Audit - BFS

- Review and assess the model development and independent model validation performed based on review and testing of the development and validation processes and documentation

- Investigating key aspects of each model under review, incl. model documentation, model selection, input data, theoretical construction, implementation (independent calculation) and model governance (inventory related models, issues, escalation, agreed actions, approvals/limitations and/or conditions of use) with reference to internal policies and regulatory requirements (e.g. FED SR11/7)

- Participation in working groups addressing modeling issues and the model control environment

- Reviewing findings with colleagues in different audit groups including business and subject matter experts

- Verifying effective controls and procedures to mitigate for model risk and residual uncertainty

- Documenting the testing performed