Director, Model Risk Management

DescriptionFirst Merchants Bank is seeking a Director, Model Risk Management to join our team The Director of Model Risk Management (MRM) leads the enterprise-wide Model Risk Management program, ensuring robust governance, regulatory compliance (SR 11-7, OCC 2011-12), and credible challenge across all model-related activities. This role aligns model risk strategy with business growth, digital transformation, and AI/ML adoption. Additional responsibilities include oversight of internal model reviews, third-party validations relationships, contributions to strategic planning and merger and acquisition (M&A) due diligence.Essential Duties & Responsibilities:Program Leadership & GovernanceDesign, implement, and continuously enhance the Model Risk Management program, including frameworks, policies, procedures, standards, and technology tools.Ensure the MRM program is appropriately scaled to the bank's size, complexity, and risk profile.Align the enterprise-wide model risk strategy with business growth objectives, digital transformation initiatives, and the adoption of artificial ineligence (AI) technologies.Lead the development and execution of the annual MRM plan, including budgeting, scheduling, and resource allocation for validations, reviews, and performance monitoring.Own and maintain the enterprise model risk dashboard, including the definition and tracking of key performance indicators (KPIs) for model performance, validation quality, and risk mitigation.Participate in strategic planning and M&A due diligence activities, providing model risk insights to support enterprise-level decision-making.Third-Party Validation OversightManage second-line vendor relationships for model validation, including proposals, statements of work, quality control, and payment processing.Conduct due diligence and risk assessments of third-party validators in alignment with the bank's third-party risk management ternal Review & ChallengeApply risk-based judgment to evaluate model appropriateness, complexity, and potential impact on business decisions, and determine the level of validation required.Oversee annual internal reviews of all models, ensuring performance monitoring, documentation updates, and issue remediation are completed timely and effectively.Provide independent challenge to model owners and users, ensuring model use is appropriate and risks are well understood.Reporting & Regulatory EngagementServe as primary liaison with regulators on model risk topics, including emerging regulatory trends (e.g., AI governance, climate risk modeling).Monitor emerging model risks and ensure timely escalation and mitigation.Stakeholder CollaborationPartner with business lines, support functions, model users, and external experts to ensure models meet quality standards and regulatory expectations.Facilitate onboarding, testing, documentation, and offboarding of models using sound analytical methodologies.Team LeadershipDevelop and sustain a model risk talent pipeline, including internships, rotational programs, and succession planning.Foster a culture of proactive risk management and continuous mittee ParticipationServe as a member of key risk committees, including but not limited to: Operational Risk Committee, Asset Liability Committee, Credit Policy Management Committee, and Enterprise Risk Management (ERM) Committee.Continuous ImprovementReassess the maturity and effectiveness of the MRM program through peer benchmarking, ongoing education, and regulatory feedback.Conduct ad-hoc risk analyses as requested by the Chief Risk Officer or ERM Committee.To be successful in this position, we require the following:Bachelor's degree in business, risk management, economics, law, mathematics, stati

Created: 2025-10-04