Position Summary

As a Model Risk Manager, your primary responsibility will be leading First Busey Corporation’s Model Risk Management Program in accordance with the Model Risk Policy and Program. In this position, you will cultivate positive working relationships with model owners and developers to proactively identify and mitigate risks, identify opportunities and develop solutions to enhance the Model Risk Program, and create timely and insightful reporting for Senior Management and the Board of Directors to enable proactive risk management processes. This position provides you with an opportunity to further your career in a growing financial institution and evolve the Model Risk Management program

Duties & Responsibilities

• Lead the Company’s Model Risk Management (MRM) Program, providing support for the lines of business in the identification, management, and measurement of model risks
• Acts as the Bank’s subject matter expert on model risk management and provides guidance and structure to the lines of business to ensure model governance processes are both appropriately implemented and sound (SR 11-7)
• Manage the inventory of models and non-models to ensure completeness and accuracy of the model inventory, required actions are completed timely, and compliance with the MRM Policy and Program
• Be well-versed in the Company’s universe of models and non-models, including how the models and non-models are used, who owns them, their assumptions and limitations, and what deficiencies exist and how they are mitigated
• Manage the inventory of MRM Program metrics as well as model specific metrics, reporting on Program and model performance periodically and identifying, proactively, deterioration in models
• Execute model validations as required by the MRM Program
• Complete reviews of annual Periodic Reviews (ongoing monitoring) for models and non-models to assess performance and monitoring efforts
• Monitor and report on model related Findings through resolution(s), providing guidance to Model Owners to successfully remediate findings, as needed
• Leverage disparate data sources to develop insightful and thought-provoking quarterly reporting for management, management oversight committees, and the Board of Directors
• Organize MRM Working Group meetings, including agendas, materials, and coordination with guest presenters
• Present quarterly updates to the MRM Working Group as well as other oversight committees as necessary
• Manage the Model Risk Management Policy, Program, and procedures as well as Model Risk training and education initiatives to align with changing regulatory expectations and industry best practices for a $20bn+ financial institution
• Develop and execute initiatives and project plans to continuously enhance the Program in alignment with regulatory expectations and industry best practices aligning with the Company’s strategic priorities
• Maintain the MRM module within the Company’s Archer GRC platform to effectively manage the model lifecycle
• Engage with industry consortiums and attend conferences to keep abreast of changing regulatory expectations and industry best practices
• Support internal audit and regulatory requests as required
• Lead and support special projects as necessary

Education & Experience

​Knowledge of:

• Advanced experience in Microsoft Office with expert experience in Excel and PowerPoint.
• Technical proficiency in R or Python
• Ten years of prior experience in the development, review, validation, and oversight of models used by financial institutions
• Advanced knowledge of FRB’s SR 11-7
• Analytical and strategic thinking with attention to detail
• Excellent written, communication, organizational, and interpersonal skills

Ability to work:

• independently and in a team
• Effective Collaborator - Builds rapport easily; effectively gains trust through demonstrated ability to bring value to processes by respectfully and thoughtfully challenging concepts and/or established norms.

Education and Training:

• Bachelor’s Degree in Finance, Economics, Accounting or a related field (equivalent experience may be considered)
• Analytical Skills - Brings high-level quantitative and analytical skills to effectively challenge First Line of Defense. Problem Solving Skills - Commits to action, even in uncertain situations, by making sound and timely decisions necessary to maintain forward progress.
• Effective Communication - Communicates ideas and information verbally and in writing to ensure key points are clearly outlined and have the desired impact; creates high-quality presentations and reports that convey information clearly and concisely.
• Process Management Orientation - Creates and maintains standardized, repeatable processes that are both efficient and effective; keeps an eye on continuous improvement opportunities and utilizes automation whenever possible.
• Planning and Organizing - Developing, implementing, evaluating, and adjusting project plans to reach goals, while ensuring the optimal use of resources. A natural self-starter with persistence, initiative and a high-energy level work ethic.

Benefits and Compensation

Salary offered is based on factors, including but not limited to, the job duties, required qualifications and relevant experience, and local market trends. The role may be eligible for bonus or incentives based on company and individual performance.

(Base Pay Range: $92,000 – $126,000/year)

Busey provides a competitive Total Rewards package in return for your time, talents, efforts and ultimately, results. Your personal and professional well-being—now and in the years to come—are important to us. Busey’s Total Rewards include a competitive benefits package offering 401(k) match, profit sharing, employee stock purchase plan, paid time off, medical, dental, vision, company-paid life insurance and long-term disability, supplemental voluntary life insurance, short-term and long-term disability, wellness incentives and an employee assistance program. In addition, eligible associates may take advantage of pre-tax health savings accounts and flexible spending accounts. Visit Busey Total Rewards for more information.

Equal Opportunity

Busey values a diverse and inclusive workplace and strives to recruit, develop and retain individuals with exceptional talent. A team with diverse talent, working together, is essential to Busey’s commitment of delivering service excellence. Busey is an Equal Opportunity Employer including Disability/Vets. Visit Busey.com/Careers to learn more about Busey’s Equal Opportunity Employment.

Unsolicited Resumes

Busey Bank, and its subsidiaries, does not accept any liability for fees for resumes from recruiters or employment agencies (“Agency”), without a binding, written recruitment agreement between Busey and Agency describing the services and specific job openings (“Agreement”). Busey may consider any candidate for whom an Agency has submitted an unsolicited resume and explicitly reserves the right to hire those candidate(s) without any financial obligation to the Agency, unless an Agreement is in place. Any email or verbal contact with any Busey associate is inadequate to create a binding agreement. Agencies without an Agreement are requested not to contact any associates of Busey with recruiting inquiries or resumes. Busey respectfully requests no phone calls or emails.