Director, Technology Model Risk Management

If you’re looking for a meaningful career, you’ll find it here at Webster. Founded in 1935, our focus has always been to put people first--doing whatever we can to help individuals, families, businesses and our colleagues achieve their financial goals. As a leading commercial bank, we remain passionate about serving our clients and supporting our communities. Integrity, Collaboration, Accountability, Agility, Respect, Excellence are Webster’s values, these set us apart as a bank and as an employer.  

Come join our team where you can expand your career potential, benefit from our robust development opportunities, and enjoy meaningful work!

Job Summary:

The Director of Technology and Model Risk Management (DT & MR) is responsible for managing various software systems and the data that feeds them, maintaining reports that provide information necessary to manage BSA / OFAC and Fraud risk effectively. The DT & MR is also responsible to ensure proper model tuning, optimization, calibration and effective model governance and validation. Position is responsible to manage the BSA and Fraud systems model testing and monitoring program to confirm systems working as designed and escalate and track all issues identified, create corrective action plans and ensure all high-risk issues are appropriately escalated to senior management. The DT & MR will assist and support the BSA/AML and Fraud Risk Assessment. Maintain and periodically update model and other systems policies and procedures, maintain and update the BSA and Fraud Coverage Assessments, BSA and Fraud systems configuration documents, BSA & Fraud Data Testing Calendar and manage BSA & Fraud systems user access. This position reports into the Senior Managing Director of Technology, Innovation & Data Science and assumes a leadership role in the SMD T, I & DS absence.

Responsibilities:

• Responsible to ensure proper model tuning, optimization, calibration, effective model governance and validation.

• Manage the BSA and Fraud systems model testing and monitoring program to ensure systems working as designed and escalate and track all issues identified, create corrective action plans and ensure all high-risk issues are appropriately escalated to senior management.

• Assist and support the BSA/AML and Fraud Risk Assessment.

• Maintain and periodically update model and other systems policies and procedures.

• Maintain and update the BSA and Fraud Coverage Assessments,

• Maintain and update the BSA and Fraud systems configuration documents,

• Maintain and update BSA & Fraud Data Testing Calendar and

• Manage BSA & Fraud systems user access roles, rights.

• Assist Management with the oversight of the …