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The Model Governance and Risk Management team is part of the Model Risk Management group within the Enterprise Risk Management division of American Family Enterprise. Goals of the team include developing a robust and integrated model risk management framework for the Enterprise, building and maintaining an enterprise model inventory, maintaining the model risk management policy and associated standards to align with shifts and trends in the insurance industry, evaluating, quantifying, and reporting model risk, staying apprised of emerging risks as they relate to modeling, and collaborating with model developers, owners, and users in the first line of defense to mitigate inherent risks that the use of statistical, financial, econometric, or mathematical models to inform business decisions poses to the business.
Responsibilities of the Model Governance and Risk Management (Sr) Analyst include:
Develops and implements the enterprise model risk management framework
Develops and maintains model risk management policy, standards, and procedures that outline the guiding principles for how the organization develops, documents, controls, validates, and maintains statistical, econometric, financial, or mathematical models for business use
Stays apprised of emerging model risks
Ensures the model risk management policy, standards, and procedures are aligned to industry trends, best practices, and regulatory requirements
Supports the creation and maintenance of the enterprise model inventory by leading regular engagements with model owners, developers, and users in the first line of defense
Evaluates, quantifies, and periodically reports model risk as it related to risk governance and controls
Ensures that each model within the enterprise model inventory is appropriately assessed for risk, including evaluating and providing recommendation for model risk tier
Maintains and tracks thorough documentation of engagements, findings, reports, timelines, and risk management action plans to support the Model Risk Management group
Develops, maintains, and regularly produces model risk reports and/or dashboards to be shared with key stakeholders across the three lines of defense including senior leadership and the Risk Committee
Proactively identifies and analyzes risks to the organization utilizing a strong understanding of the Enterprise’s business, operating structure and the insurance industry and adjacent industries.
Leads routine risk assessment, management and monitoring activities.
Drives collaboration and develops strong working relationships with stakeholders across the enterprise
Supports enterprise risk-smart culture through education and consultative services including risk identification and management.
Develops and monitors processes and tools consistent with the enterprise view of risk and risk tolerance goals.
Supports continuous improvement in analysis processes, data gathering, formal reporting.
Establishes, improves and maintains enterprise-wide reporting.
Leads, participates, and presents on cross departmental team efforts
Internal Number: R22898
About American Family Insurance
At American Family Insurance, we know how hard our customers and employees work to achieve their dreams. That's why, for over 90 years, we have made it our mission to protect those dreams. It's all part of who we are and who we’ll always be… innovative, caring, agile, trustworthy, transparent and passionate. We are a strong, forward-looking company and a proven leader in our industry. And if you are looking to make a difference, we are looking for you.
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