Who We Are
Cross River is a highly profitable, fast-growing financial technology company powering the future of financial services. Our comprehensive suite of innovative and scalable embedded payments, cards, and lending products deliver financial services for millions of businesses and consumers around the globe. Cross River is backed by leading investors and serves the world’s most essential fintech and technology companies. Together with its partners, Cross River is reshaping global finance and financial inclusion. We are on a mission to build the infrastructure that propels access, inclusion, and the democratization of financial services.
While our company has tripled in size over the last three years, our strong sense of purpose led Cross River to be named to American Banker’s list of Best Places to Work in Fintech for the last 6 years. The reason for this success is simple – our nimble and collaborative family culture lives in every member of our growing team. Together we are at the forefront of technology and innovation, and we invite passionate, collaborative, and motivated high performers to join our expanding team.
What We're Looking For
Cross River’s Risk Management group provides a structured approach for identifying, assessing, monitoring and reporting the risks faced by the Bank in alignment with the Bank’s strategic objectives. It provides a framework that drives effective, risk-based decision making, and firm-wide governance structures that supports an enterprise-wide approach to risk management, and as a Head of Model Risk Management, you will play a key role in facilitating the same.We are currently looking for a strong, experienced Model Risk Manager to join our Risk team to work in a dynamic environment.
The candidate must be self-motivated, results-driven, and be comfortable working with people. If you are a sharp thinker and problem solver, this is a rewarding career opportunity for you. The team cares about building partnerships, and we have fun doing it. If you like challenging problems, are analytical, and a great team player—we want to hear from you!
Responsibilities:
- Validate and test models in BSA/AML, OFAC, Fraud and other transaction monitoring systems.
- Review codes, programs and assumptions for models in the above areas
- Analyze data mapping from core system to models and identify any errors and lack of controls in this area
- Create model validation reports (or work with team-members to create reports) in accordance with the bank’s model risk policy and procedures.
- Engage with model owners to communicate model findings
- Escalate issues to requisite senior management, review action and ongoing monitoring plans and reports, and identify deliverables to mitigate issues.
- Review compensating controls for models with issues to ensure adequate remediation.
- Support regulatory and audit timely remediation.
- Ensure all models in the inventory are appropriately validated, revalidated, and annual reviews, and ongoing monitoring reviews are conducted in accordance with the MRM Policy and differentiated by Model Risk Levels.
- Maintain the Model Risk Tiering Methodology that is used to manage Models at the Bank and Partners.
- Assist Head of Model Risk Management in maintaining and enhancing Model Risk Policies, and Procedures.
Qualifications:
- Strong verbal and written communication skills and ability to communicate technical information to non-technical audiences
- Extremely strong technical skills and an excellent understanding of BSA/AML, Fair Lending, Machine Learning models
- Experience as a Model Developer, Model Validator, and Model User is preferred
- Good understanding of core technology transaction system processes like Cards, Banking or Payments
- Ability to negotiate, and comfortable with different points of view with a key focus on ensuring Safety and Soundness.
- BA/BS Degree in a quantitative discipline (e.g., Finance, Economics, Operational Research, Statistics, Data Science; advanced degree preferred.
- At least seven years' experience in risk management at a bank or credit union, fintech organization.
- Results oriented, ability to meet deadlines, and strong attention to details.
- Integrity, ability to work independently, and strong problem-solving skills.
- Exceptional collaboration skills and a desire to work as part of a high-performance team.
#LI-JJ1 #LI-Hybrid #LI-OnsiteSalary Range: $130,000.00 - $160,000.00Cross River is an Equal Opportunity Employer. Cross River does not discriminate on the basis of race, religion, color, sex, gender identity, sexual orientation, age, non-disqualifying physical or mental disability, national origin, veteran status or any other basis covered by appropriate law. All employment is decided on the basis of qualifications, merit, and business need.By submitting your application, you give Cross River permission to email, call, or text you using the contact details provided.
We will only contact you with job related information.
