The Role
The Model Risk Management Lead ensures oversight of model risk, validating models and managing compliance with risk management standards across fintech partners.
Summary Generated by Built In
Lead is a fintech building banking infrastructure for embedded financial products and services. We operate an FDIC-insured bank headquartered in Kansas City, Missouri. Additionally, we have offices in San Francisco, Sunnyvale, and New York City, where our technical, product, design, and legal teams operate.
We are built for a constantly evolving financial landscape, where new ventures and technological advancements emerge daily. Guided by a team of entrepreneurs and technologists with decades of experience navigating intricate banking and payments regulations, Lead blends regulatory and technological expertise to help our fintech partners scale their operations with compliance and creativity.
Simply put, Lead offers the essential attributes that every fintech seeks in a partner bank. First, unparalleled technical expertise from a distinguished team of developers with an extensive understanding of the banking and payments systems. Second, oversight expertise, automated compliance systems, and bespoke program management to navigate the ever-shifting regulatory landscape. Finally, a commitment to transparency and operational rigor to ensure everyone’s money does what it’s supposed to do.
Role Description:
The Model Risk Management Lead role offers you the chance to ensure oversight of model risk, ensuring the integrity and efficacy of various quantitative models used by the bank, directly or through its fintech partners. You’ll play a critical role in safeguarding the company against regulatory, financial, and reputational risks linked to model risks. Your expertise will help prevent potential losses and ensure compliance with Lead’s stringent risk management standards.
In this role you will:
- Oversee Lead’s overall Model Risk Management program
- Maintain Lead’s Model Inventory
- Perform due diligence on fintech partner model risk management process as part of partner onboarding
- Perform ongoing oversight of partner model usage throughout the partner lifecycle
- Frequently guide or participate in discussions with Lead’s external fintech partners to ensure understanding of and adherence to Lead’s own MRM requirements as well as regulatory expectations & industry best practices
- Review documentation, validate models and recommend enhancements covering a range of models from scorecards, regressions to machine learning algorithms
- Engage with stakeholders: Work closely with partner program managers, risk, finance, legal/compliance, customers/partners, and other related function group personnel to identify, assess, monitor, and manage model risk proactively.
- Ensure that, per Lead Bank model risk policy, models are: appropriately registered and risk-rated by EMRM (Enterprise Model Risk Management); validated before use; following appropriate protocol when adjustments or other changes are made to a model, its inputs or outputs.
- As appropriate and where independence of oversight is not compromised, offer input on model design or use that would enhance the management of model risk.
- Own, design and execute on actionable MRM-related reporting to management and Board committees
Qualifications:
- Hold a Bachelor’s Degree in a quantitative discipline such as math, physics, econometrics, statistics, or financial engineering.
- Have 7 or more years of working experience in quantitative / statistical model development, model validation and/or model risk management
- Familiarity with traditional statistical models (e.g. linear / logistic regressions) as well as more advanced machine learning models (e.g. gradient boosting models)
- Possess a strong quantitatively oriented knowledge of financial products and industry best practices and regulatory requirements for model risk management.
- Strong verbal and written communication skills.
- Have a collaborative mind-set with strong interpersonal skills.
- Knowledge of regulatory requirements for financial institutions
- Familiar with enterprise risk management framework
- Excel at explaining highly technical, complex concepts so that internal and external partners with diverse backgrounds can understand
What we offer:
- At Lead, we design our benefits to support company culture and principles, to foster an efficient and inspiring work environment, and to create the conditions for our team to give their best in both work and life
- Competitive compensation, including opportunities for equity grants and cash bonus, based on experience, geographic location, and role
- Medical, Dental, Vision, Life, 401k Matching, and other wellness benefits, including FSA, HSA and HRA
- Paid parental leave
- Flexible vacation policy, including PTO and paid holidays
- A fun and challenging team environment in a dynamic industry with ample opportunities for career growth
*Lead Bank is proud to have an inclusive culture committed to ensuring equal employment opportunity in all employment decisions regardless of race, color, gender, national origin, religion, age, disability, sexual orientation, gender identity, military status, veteran status or any other legally protected status.
*Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
*Pursuant to the San Francisco Fair Chance Ordinance, we will consider for employment qualified applicants with arrest and conviction records.
*Pursuant to the Los Angeles County Fair Chance Ordinance, we will consider for employment qualified applicants with arrest and conviction records.
**Our compensation reflects the cost of labor across several US geographic markets. Pay is based on a number of factors and may vary depending on geographical market location, job-related knowledge, skills, and experience. These ranges may be modified in the future.
Zone 1: $ 197,500 - $ 215,000 (SF/Bay Area, NYC, Seattle, LA)
Zone 2: $ 179,500 - $ 195,000 (Los Angeles, Chicago, Austin, Denver, Boston, Washington DC, San Diego, Philadelphia, Portland, Sacramento, Miami)
Zone 3: $ 160,000 - $ 179,000 (Other US Metros)
#LI-AG1
Top Skills
Gradient Boosting
Linear Regression
Logistic Regression
Machine Learning Algorithms
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The Company
What We Do
Lead Bank is where expertise, experience and technology unite the people behind inspired businesses. We take pride in working side by side with companies to grow bottom lines that become cornerstones of the community.
We’ve always been a bank that leads the way, not follows the herd. In 2010, we rolled out our new name along with a new suite of next generation banking resources. From the robust online banking capabilities to our remote deposit technology, these digital solutions let you bank however you want, wherever you want. While our bank has roots in Cass county, we offer full-service banking and outstanding customer service for the entire Kansas City metropolitan area.
Our relationships with our clients remain at the heart of what we do. We get to know you and your business so we can tailor financial solutions to help you achieve your goals.
