Lead of Model Validations (Financial Models)

Brighthouse Financial, Inc.
Charlotte, NC, USA
Apr 15, 2018
Apr 17, 2018
Job Function
Risk Management
Industry Sector
Finance - General
Employment Type
Full Time
Alternate Job Location : New Jersey : Morristown ( Optional: if no Alternate Location, remove)

Brighthouse Financial is a new company established by MetLife. We're on a mission to help people achieve financial security. Built on a foundation of industry knowledge and experience, we specialize in offering essential annuity and life insurance products designed to help customers protect what they've earned and ensure it lasts more predictably. In an industry that often has a reputation for complexity, confusion, and cost, Brighthouse Financial is different. Our approach includes simplicity, transparency, and more value so customers can face the future with confidence.

Brighthouse Financial is seeking passionate, high-performing team members to help us carry out our mission and be part of an exciting journey toward improving the financial futures of our millions of customers. Sound like you? Read on.

Role Value Proposition:
The mission of Enterprise Risk Management (ERM) is to ensure that Brighthouse Financial has a comprehensive framework for understanding the risks embedded in and across its businesses, so that the company can manage these risks effectively, evaluate current and future risk challenges and opportunities, and enhance shareholder value.

The primary objectives of Model Risk Management Group will be to provide effective challenge, manage and mitigate model risks, and maintain model inventory, risk assessment and model control standards. To effectively manage these responsibilities, the successful candidate will work both independently and collaborate as part of a team with significant dependence on relationships with internal audit, corporate actuarial, product actuaries, the treasurer's group, portfolio managers, finance, investment operations and analytical software vendors.

Key Responsibilities:
The incumbent's level of experience and subject matter expertise will determine his or her level of leadership and involvement relative to the following responsibilities:
  1. Model Control Standards: Supporting plans and activities related to modeling systems and model risk activities across the Company to ensure consistency and transparency of modeling direction, vision, strategy, and appropriate governance controls.
  2. Model Validation & Testing: Supporting independent periodic model validation and testing of investment, finance and risk models. This will include review, effective challenge, and written documentation, including assessment of conceptual soundness, model performance/outcomes analysis, and appropriateness of model assumptions, data sources, mathematical formulas and business applications as well as communication of key model weaknesses and data limitations (e.g., inherent model imprecision).
  3. Model Building: Supporting the building of models and analytical tools to support the activities of the Model Risk Management group. This will involve the development of the models and tools as well as the analyzing of output.
  4. Reporting: Supporting preparation of regular model risk status reports and reporting key observations and compliance/non-compliance with the model governance policy to Model Risk Work Group. This will include ensuring that emerging risks are identified and appropriately addressed.

Essential Business Experience and Technical Skills:
  • Undergraduate degree in related discipline required; MBA, CPA, FSA, and/or CFA strongly preferred
  • 10+ years of experience with increasing responsibilities in areas of corporate finance, capital management, and capital strategy within large financial institutions
  • Industry leading knowledge of financial markets and economics
  • Strong understanding of Statutory, GAAP, and economic capital framework
  • Excellent mathematical, analytical problem-solving skills
  • Strong communication (both written and oral) skills, including the ability to communicate complex issues to non-technical persons
  • Experience managing one or more direct reports, or managing more junior level resources on projects, is strongly desired
  • Ability to build strong relationships while challenging and influencing people in a constructive manner
  • Skilled with database development, maintenance, and extraction of data for reporting is desired
  • Demonstrated advanced knowledge of software packages used in business communication such as MS Excel, Word and PowerPoint

Minimal travel to either Charlotte or NJ based on new hire's location.