Model Risk Mgmt Governance Lead Analyst

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Job Overview

Role Summary

This is a professional individual contributor role within the first-line-of-defense (1LoD) that supports the execution of model risk governance activities across the model lifecycle.

This role is responsible for the day-to-day operational tasks that underpin the governance framework - including inventory management, tracking, documentation review, and coordination with Model Sponsors - while developing a strong foundation in model risk management principles and regulatory expectations.

Key Responsibilities

Framework Support & Operations:

Support the implementation and monitoring of the business line's adherence to the Citi MRM Policy, Standard, and Execution Manual through operational tracking and reporting.

Assist in maintaining governance documentation, procedures, and templates used across the MRM governance function.

Help coordinate business line participation in working-level meetings with the central MRM organization, preparing agendas, minutes, and follow-up trackers.

Model Lifecycle Support:

Model Identification: Assist in conducting outreach to business stakeholders to identify potential models; log and track submissions for MRM determination.

Development & Documentation:

Conduct initial reviews of Model Development Documents (MDDs) against a defined checklist of policy requirements, flagging gaps or missing information for follow-up.

Coordinate with Model Sponsors to collect required documentation and track outstanding items to closure.

Maintain documentation logs and version control for all model-related records.

Validation & Remediation:

Track the status of all model validation activities across the portfolio (initial, annual, and ongoing validations), maintaining up-to-date records in relevant systems.

Monitor remediation action plans, send timely reminders to responsible parties, and flag overdue items for escalation.

Compile validation finding summaries and aging reports for senior review.

Implementation & Use:

Collect and log implementation testing evidence from Model Sponsors, verifying completeness against requirements.

Maintain records of approved model use cases and assist in monitoring for potential out-of-scope usage.

Ongoing Monitoring:

Track performance monitoring (OPA) schedules for all models and proactively follow up with Model Sponsors to ensure timely completion.

Compile and organize OPA results, flagging any exceptions or performance concerns for review.

Model Change & Retirement:

Log and track all model change requests, ensuring supporting documentation is collected and governance steps are completed in sequence.

Maintain records of formally retired models and ensure the model inventory is updated accordingly.

Inventory, Attestation & Reporting:

Perform regular data quality checks on the business line's model inventory in MRMS, identifying and resolving discrepancies with Model Sponsors.

Support the semi-annual model inventory attestation process by coordinating outreach, collecting confirmations, and compiling results.

Assist in preparing the Policy Dispensation and Policy Breach reporting, maintaining logs and supporting the documentation process.

Produce routine status reports, dashboards, and trackers that provide visibility into portfolio health for senior governance staff.

Learning & Development:

Actively develop knowledge of model risk management principles, regulatory expectations (e.g., SR 11-7), and the Citi MRM Policy framework.

Participate in team discussions and knowledge-sharing activities to build subject matter expertise over time.

Qualifications

10+ yrs of experience with at least 3–6 years of experience in risk management, model governance, financial services operations, or a related analytical field.

Foundational knowledge of model risk management concepts and the model lifecycle; familiarity with equivalent regulatory guidance is a plus.

Strong organizational skills with demonstrated ability to manage multiple concurrent tasks, deadlines, and stakeholder follow-ups.

Detail-oriented with strong data quality awareness; experience maintaining complex inventories or tracking systems.

Good written and verbal communication skills, with the ability to produce clear status reports and communicate professionally with business stakeholders.

Proficiency in Microsoft Office (Excel, PowerPoint, Word); experience with governance or risk management systems (e.g., MRMS or equivalent) is advantageous.

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Job Family Group:

Product Management and Development

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Job Family:

Product Management

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Time Type:

Full time

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Most Relevant Skills

Please see the requirements listed above.

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Other Relevant Skills

For complementary skills, please see above and/or contact the recruiter.

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