Liquidity Model Validation- Vice President

Permanent contract|New York|Risks

Liquidity Model Validation- Vice President

  • New York, United States
  • Permanent contract
  • Risks

Responsibilities

Your primary role, as part of the second Line of Defense on liquidity and IRRBB models, is to review the first Line of Defense modeling proposal. This includes, but not limited to, the following

  • Identify key liquidity risk factors
  • Evaluate soundness of liquidity model choice
  • Challenge model assumptions and limitations
  • Challenge model implementation: perform independent checks to ensure model is implemented and working as intended, review sensitivity analysis and tests performed, review controls and procedures put in place
  • Perform independent tests on the models (statistical tests, coherence tests, benchmarking, etc)
  • Write validation reports comprising tests performed, validation conclusions and recommendations addressed to the first line of defense
  • Evaluate recommendation remediations and opine on sufficiency

This role requires working closely with the Liquidity Risk Officer and the Group liquidity model validation team.

The role also requires interactions with different functions as part of the first line of defense (Finance, Treasury, IT teams, Front Office…) and the third part of defense (Audit) in order to prepare for the validation of the models under regulatory standards and for continuous review and monitoring of the liquidity models.

This role also requires frequent communications to internal validation committees composed of senior level experts in the bank. As such, oral and written communication skills are important.

Profile required

Division Description:

The Risk Management Department contributes to the sustainable growth of the Societe Generale group through its expertise, understanding of risks, and risk management techniques. The department’s mission is to independently analyze, assess, manage and monitor risk-taking activities with the objective of achieving, together with the first line-of-defense, the best possible outcome for the bank.  The department oversees the enterprise, strategic, credit, market, liquidity, operational, model, and other risks of the corporate and investment banking business activities.

The Model Risk Department of Société Générale in New York contains a quantitative Model Validation Team. This team acts as second Line of Defense and is responsible for the validation of models. The scope of this role is liquidity models validation.

Skills and Qualifications:

Must Have: 

  • 5+ years of working experience in finance industry
  • Masters Degree in Statistics/Engineering/Economics
  • Strong analysis skills, especially liquidity risk management topics.
  • Strong ability in statistics and data analysis programs (Python, R, VBA and etc).
  • Strong reasoning and communication skills.
  • Understanding banking and market products, risk methodologies, practices and procedures, liquidity risk management principles.
  • English

Nice to Have:

  • Valuable experience within a similar area (liquidity risk management position, validation under SR11-7 of liquidity models, ALM experience…)
  • French

Business insight

OUR CULTURE: 
At Societe Generale, we live by our 4 core values of commitment, responsibility, team spirit and innovation. We are engaged and demonstrate consideration for others. We act ethically and with courage. We focus our talent and energy on collective success. We experiment and propose new ideas. This way, we maximize our ability to serve client needs and anticipate market changes. Societe Generale is committed to strengthening bonds with colleagues, communities, and the world in which we live, because relationships are at the heart of how we operate.
For more information about our Culture and Conduct initiatives, please visit this link (https://americas.societegenerale.com/en/careers/get-know-culture/)

D&I: 
Our Diversity & Inclusion Mission: Recruit, develop, advance, and retain a diverse workforce that is united in our efforts to enhance our competitive position and deliver innovative solutions to our clients.

Our Diversity & Inclusion Vision: 
•     Engaged workforce that is demographically diverse in a way that reflects the communities in which we operate
•     Inclusive culture and workplace that recognizes employees' unique needs and utilizes their diverse talents 
•     Engage our community and marketplace, and position the organization to meet the needs of all its clients

For more information about our D&I initiatives, please visit this link (https://americas.societegenerale.com/en/societe-generale-about/diversity-and-inclusion/)

HYBRID WORK ENVIRONMENT:
Societe Generale offers a hybrid work arrangement that offers employees the flexibility to work remotely, as well as on-site, in order to promote interaction and collaboration with colleagues while adhering to all SG standard protocols.  Hybrid work arrangements vary based on business area.  The applicable Business lines will determine and communicate the work arrangements that best meet their business needs.

COMPENSATION & SALARY RANGE:

Base salary range does not include overtime pay, bonus and/or other benefits, where applicable. Actual base salary offer will vary based on skills and experience.

Societe Generale is an equal opportunity employer, and we are proud to make diversity a strength for our company. We are committed to recognizing and promoting the talents and achievements of our employees and staff, regardless of race, religion, color, national origin, sex, disability, age, gender, sexual orientation, and any other characteristic or status protected under applicable law.

Reference: 240003XE
Entity: SG AMERICAS OPERATIONAL SECURITIES
Starting date: 2024/03/25
Publication date: 2024/02/09
Salary or Compensation Range: $118,000 - $240,000
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