Model Risk Cover Letter

I would like to submit my application for the model risk opening. Please accept this letter and the attached resume.

In the previous role, I was responsible for subject matter expertise and guidance on the firm’s operational risk framework to ensure that management is aware of the firm’s operational risk-taking philosophy, policy, authority structure, procedures and processes.

My experience is an excellent fit for the list of requirements in this job:

• Knowledge of model risk management and associated regulatory requirements, such as OCC SR 11-7, Basel II/III, FR Y-14M/Q, SR 15-18/19, FRB Dodd-Frank EPS, and familiarity with KYC, AML-BSA and EDD
• Familiar with applicable regulatory guidance
• Maintenance of current Model Risk inventory, including specification for the MRM Tool
• Reconciliation of Current Inventory with the Existing Models in the Bank
• Consolidating/reporting project activities
• Create process and protocol for the monitoring the progress of the Validation Plan in the Tool
• Monitoring the results coming from the decisions made at the Model Risk Management Committees under the Model Risk Governance
• Gathering and consolidating status of the KPIs of the unit

I submit this application to express my sincere interest in the model risk position.

Previously, I was responsible for independent review and validation compliant with Model Risk Management policies and procedures, regulatory guidance and industry leading practices, including evaluating conceptual soundness, quality of modeling methodology, model limitations, data quality, and on-going monitoring for market risk models.

My experience is an excellent fit for the list of requirements in this job:

• Coding on R or Python would be an added advantage
• Knowledge of Excel/Access/VBA and MS-SQL
• Extensive knowledge of stochastic calculus and statistical analysis
• Understanding of SR 11-7 guidance on model risk management
• Experience in a DFAST and FASB regulatory environment highly desirable
• Proven record in managing and empowering technical/quantitative staff and mobilizing resources to implement company- wide initiatives
• Experience in model development or validation with an advanced knowledge of financial/econometric modeling and statistical analysis techniques
• Proficient in relevant programming languages such as SAS or R

In response to your job posting for model risk, I am including this letter and my resume for your review.

In the previous role, I was responsible for independent review and validation of various models for Contingency Funding Planning/Liquidity Risk and Asset/Liability Management (e.g., Net Income Sensitivity Models).

Please consider my experience and qualifications for this position:

• Meeting support/minutes
• Model Document/deliverable management
• Maintain existing documents (charters, validation procedure)
• Develop additional documents
• Reviewing risk models, including performing quantitative analyses
• Participating in/representing Model Risk Management in meetings with model developers, senior management, internal & external audit, the ECB
• Comprehensive experience and expertise in the interpretation and implementation of SR 11-7, Supervisory Guidance on Model Risk Management
• Experience with programming and/or large database and related languages (like R, Python and SQL)

I am excited to be applying for the position of model risk. Please accept this letter and the attached resume as my interest in this position.

In my previous role, I was responsible for input into the Technology Risk in Change framework ensuring it is fit for purpose, embedded into existing project management frameworks and will be sustainable in the long term.

I reviewed the requirements of the job opening and I believe my candidacy is an excellent fit for this position. Some of the key requirements that I have extensive experience with include:

• This team carries out model validation activities and works closely with Risk, Finance and Front-Office professionals to review model validation findings, on-going model risk measurement and risk mitigating strategies
• Good understanding of option pricing theory
• Review, verify and validate models for theoretical soundness, testing design and identification of model weaknesses, ensuring ongoing monitoring, chip in in the firm-wide model risk and control assessment
• Review, verify and validate models for theoretical soundness, testing design and identification of model weaknesses, ensuring ongoing monitoring, contribute in the firm-wide model risk and control assessment
• Analyze model scope, use and implementation related issues
• Assist with setting up front to back process including associated validation, controls, Run quarterly process to generate Model Risk AVAs, deliver enhancements
• Experience in coding in C++
• Understanding of Risk and Model Risk framework and its role in a financial organization is desirable

I am excited to be applying for the position of model risk. Please accept this letter and the attached resume as my interest in this position.

In the previous role, I was responsible for advice to business areas and model owners / operators on interpretation and implementation of the Group Model Risk Policy and Framework.

Please consider my qualifications and experience:

• Essential - Should have relevant experience in analytical industry
• Keen interest in testing, development and/or validation processes used in banking risk models
• Deep knowledge of analytical software packages such as SAS, MATLAB, Python, R
• Demonstrated effectiveness in project, team and client management
• Good understanding of the full range of risks in financial services (both financial and non-financial) and applicable regulations
• Prior work experience in financial services and banking sector
• Validate high-impact models
• Identify and document model deficiencies