Model Risk Manager, Risk Dynamics
- Graduate (Master's or PhD) degree in a quantitative field such as Financial Engineering, Applied Finance, Statistics, Mathematics and Computational Finance
- Minimum of 7 years experience in financial risk including both risk management and quantitative modelling (preferably within the banking sector)
- Demonstrate sound consulting capabilities learned from proven experience with high quality standards
- Demonstrate deep understanding of Stress Testing (CCAR/ECB) and the regulatory environment
- Familiar with development and implementation of risk models (vendor or "in-house" models) for a variety of credit products (e.g., loans, securities, etc.)
- Show interest in testing, development, and/or validation processes of banking risk models
- Demonstrate proficiency with analytical software packages and programming languages (SAS, MATLAB, C++, R, VBA especially valued)
- Capable of analysing a client's business context, risk management needs, and assessing current risk projection capabilities. Ideally, this will complement an ability to propose multiple risk modelling responses to the identified needs
- Demonstrate sound judgement and senior executive influencing skills
- Possess fluent oral and written English. Additional languages are also relevant and welcome
- Track record of good work organisation and insightful contributions to work organisation either as team leaders or as team members
- Capable of multi-tasking, adapting to rapidly changing client requests, and managing their time appropriately
Who You'll Work With
You'll work in our North American Knowledge Center in Waltham, Massachusetts as part of Risk Dynamics.
Risk Dynamics was acquired by McKinsey & Company in February 2016. This acquisition reflects our joint commitment to be a global leader in model risk management, model validation and model advisory support for the Financial Services sector.
Risk Dynamics is a specialized consulting firm conducting in depth assessment of all risk-related measures used in the Financial Industry for banks, insurance firms, asset managers and infrastructure players. Risk Dynamics' model validation and model risk advisory work spans multiple risk types, markets, operating challenges, and modelling techniques. When delivering a project, we strive to advance our client's understanding of both well-established and emerging risk management techniques. Risk Dynamics team members must be capable of analyzing client-specific needs and generating accurate, effective, and pragmatic recommendations. This work is supported by Risk Dynamics' proprietary approaches as well as by new approaches developed in collaboration with our partners in the academic community.
What You'll Do
You will be responsible for building strong client relationships and, when needed, appropriately challenging client practices.
Additionally, you'll formulate clear, logical and succinct written reports to highlight core client capabilities, potential risk estimation vulnerabilities, and development opportunities. You'll define, organize and deliver agreed consulting work plans that respond to the client's identified need and which maximize the client's understanding of targeted risk's dimensions. You'll ensure output quality and on-time delivery of engagements, you'll guide and develop the skills of less experienced colleagues, and you'll help to identify alternative approaches to improving client's capabilities and operating efficiency.
You'll work to maintain an up-to-date understanding of regulatory context and you'll have the opportunity to write white papers and blogs in conjunction with RD's broader knowledge community. You'll be able to develop strong constructive and collaborative working relationships across the Risk Dynamics organisation and you'll generate precise and effective written responses to formal Requests for Proposals. You'll also be expected to identify new methodologies and generate insightful thought leadership. This requires a broad knowledge of risk management including current challenges and likely future developments. You will also regularly contribute to firm events (e.g. round table discussions, conferences etc.).
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Danielle is one of the leaders of McKinsey’s business with retail and consumer clients. She oversees client projects and helps her teams and her clients utilize McKinsey’s resources.
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