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Model Methodology & Risk Lead - Chief Risk Office

Location

New York

Business Area

Legal, Compliance, and Risk

Ref #

10046813

Description & Requirements

The energy of a newsroom, the pace of a trading floor, the buzz of a recent tech breakthrough; we work hard, and we work fast — while keeping up the quality and accuracy we're known for. It's what keeps us inventing and reinventing, all the time. Our culture is wide open, just like our spaces. We bring out the best in each other through collaboration. Through our countless volunteer projects, we also help network with the communities around us, too. You can do amazing work here. Work you couldn't do anywhere else. It's up to you to make it happen.

What’s the role?

Bloomberg’s Chief Risk Office (CRO) plays a critical role in supporting our businesses and operations around the world. As part of this mission, we are seeking a Head of Model Risk Management Program to design, lead, and embed a firmwide approach to model governance and risk oversight.

We are seeking a highly experienced senior leader to build and lead our Model and Methodology Risk Management (MRM). This individual will be responsible for designing, implementing, and executing a comprehensive program across all elements of the end-to-end lifecycle of model governance, validation, monitoring, and risk oversight across the firm.

The ideal candidate will bring a proven track record of leading a model risk management program, building model risk frameworks, deep technical knowledge of quantitative modeling and AI/ML models, and the strategic leadership skills required to align the program with internal and external stakeholder expectations, industry best practices, and the firm’s business objectives.

We’ll trust you to:

+ Design and implement the enterprise-wide Model and Methodology Risk Management framework, including governance, policies, and standards.

+ Develop and maintain standards for model development, documentation, validation, and lifecycle monitoring

+ Build and maintain the enterprise model inventory and classification process to ensure consistent visibility and oversight of all critical models

+ Develop independent validation standards for quantitative, AI/ML, and vendor models, ensuring robustness and reliability

+ Ensure robust controls for emerging technologies: AI/ML and generative models, anticipating emerging risks

+ Set documentation and transparency standards for model development, testing, and monitoring

+ Deliver clear and actionable reporting on model risk to senior management and any governance committees.

+ Define model risk appetite and metrics, aligning with enterprise risk frameworks.

+ Partner closely with engineering, product, and business teams to embed good model risk practices into the model development lifecycle

+ Provide senior management with insights and reporting on model risk exposures, performance, and remediation progress

+ Build, lead, and mentor a high-performing Model Risk Management team, fostering technical excellence and thought leadership.

+ Drive continuous improvement by adopting industry best practices, leveraging new technologies, and monitoring emerging risks in modeling and AI

You’ll need to have:

+ 12+ years of experience in quantitative risk management, model validation, or model governance, with at least 5 years in a senior leadership role

+ Advanced degree in quantitative field such as Finance, Economics, Mathematics, Statistics, Financial Engineering, Data Science, or related discipline

+ Expertise in a broad range of models (quantitative finance, pricing/valuation, forecasting, and AI/ML)

+ Strong understanding of financial markets, trading lifecycle, and data-driven risk practices

+ Demonstrated ability to lead large-scale programs and influence senior stakeholders

+ Excellent communication skills, with ability to distill complex model risk concepts for executive audiences

+ Proven leadership experience building and developing high-performing risk or quantitative teams

+ Strong analytical skills, intellectual curiosity, and ability to operate in a fast-paced environment

We’d love to see:

+ Experience engaging with regulators on model risk topics

+ Passion for advancing risk governance while enabling innovation in finance and technology

+ Some prior experience of regulatory model risk management frameworks (e.g., SR 11-7, OCC, ECB, PRA)

+ Experience with Matlab/R, SQL, Perl/Python and other scripting languages

Salary Range = 185000 - 245000 USD Annually + Benefits + Bonus

The referenced salary range is based on the Company's good faith belief at the time of posting. Actual compensation may vary based on factors such as geographic location, work experience, market conditions, education/training and skill level.

We offer one of the most comprehensive and generous benefits plans available and offer a range of total rewards that may include merit increases, incentive compensation (exempt roles only), paid holidays, paid time off, medical, dental, vision, short and long term disability benefits, 401(k) +match, life insurance, and various wellness programs, among others. The Company does not provide benefits directly to contingent workers/contractors and interns.

Bloomberg is an equal opportunity employer and we value diversity at our company. We do not discriminate on the basis of age, ancestry, color, gender identity or expression, genetic predisposition or carrier status, marital status, national or ethnic origin, race, religion or belief, sex, sexual orientation, sexual and other reproductive health decisions, parental or caring status, physical or mental disability, pregnancy or parental leave, protected veteran status, status as a victim of domestic violence, or any other classification protected by applicable law.

Bloomberg is a disability inclusive employer. Please let us know if you require any reasonable adjustments to be made for the recruitment process. If you would prefer to discuss this confidentially, please email [email protected]