Technical Manager, Finance Model Risk

    • Newark, NJ

Finance Model Excellence (FMX) acts as an advisory group and expert in the CFO organization on all matters related to Model Risk Management. FMX develops guidance, tools and training to build a consistent and efficient leading practice in Finance model risk management. FMX introduces new technologies and best practices in optimizing finance model solutions.

FMX is seeking a motivated and experienced technical manager to join this highly dynamic and technical team.

You will work closely with Finance business partners on finance model validation and optimization. You will be responsible for the following activities:

  • Coordinate and conduct financial model reviews and validations, potentially including:
    • Reviewing Model Documentation and Testing Results for reasonableness and compliance with Enterprise Model Risk Management policies
    • Developing, reviewing and/or executing testing plans
    • Leading resolution of model findings and issues, recommending remediation actions and plans
    • Working with modeling platform SME's on internally developed, or external vendor models to document or review model methodologies, controls, and testing
  • Lead and execute projects to enhance and optimize spreadsheet models, potentially including:
    • Designing and executing solutions for overall spreadsheet model enhancements such as formula improvements and process automation
    • Investigating and summarizing spreadsheet model issues
    • Tracking, following up and resolving issues in a timely manner
  • Design and conduct training on technical subjects, such as model testing, enhancements and validation tools
  • Develop and update FMX technical guidance and tools
  • Coach and develop other FMX staff, including directly managing one or more individuals

  • Undergraduate degree with 7 years of experience in related fields such as Business Analysis, Finance Modeling, Risk Management, or consulting related to such functions within Insurance, Banking and/or Financial services
  • Advanced Excel skills are required. VBA, Power Query will be a plus.
  • Experience in preparing/reviewing technical or process documents such as model documentation, business requirements, or technical specifications
  • Hands-on experience required in testing, analyzing, debugging financial models (spreadsheets or applications). SDLC knowledge is a plus.
  • Knowledgeable of spreadsheet best practice and model risk management/mitigation
  • Strong problem-solving skills, in terms using technical solution to improve efficiency and effectiveness of business deliverables
  • Critical thinking and ability to initiate ideas for model enhancements
  • Self-motivation, resourcefulness, flexibility, and ability to maintain focus and discipline in a highly dynamic environment
  • Strong verbal and written communications skills
  • Very strong attention to detail, time management and organization skills

Prudential is a financial services company that helps customers grow and protect their wealth.

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