VP, Model Risk Management at Customers Bank in Malvern, Pennsylvania

Job Description:

Malvern, PA | 2 Locations | Malvern, PA
Full time | Full time | Full time
REQ-2024-529

At Customers Bank, we believe in working hard, working smart, working together to deliver memorable customer experiences and having fun. Our vision, mission, and values guide us along our path to achieve excellence. Passion, attitude, creativity, integrity, alignment, and execution are cornerstones of our behaviors. They define who we are as an organization and as individuals. Everyone is encouraged to have personal development plans. By doing so, our team members are on their way to achieve their highest potential and be successful in their personal and professional lives.

Work Location: Hybrid in the Malvern, PA location, coming into the office at least 3 days per week with Monday, Tuesday and Thursday being the set in-office days. All subject to change.

Who is Customers Bank?

Founded in 2009, Customers Bank is a super-community bank with over $22 billion in assets. We believe in dedicated personal service for the businesses, professionals, individuals, and families we work with.

We get you further, faster.

Focused on you: We provide every customer with a single point of contact. A dedicated team member who’s committed to meeting your needs today and tomorrow.

On the leading edge: We’re innovating with the latest tools and technology so we can react to market conditions quicker and help you get ahead.

Proven reliability: We always ground our innovation in our deep experience and strong financial foundation, so we’re a partner you can trust.

What you’ll do:

• Perform independent validation of the implementation of QRM Asset Liability Management framework, which includes the Net Interest Income (NII) Forecasting and Economic Value of Equity (EVE) models for Interest Rate Risk Management purpose and the Net Interest Income Forecasting model for planning purpose.
• Evaluate the models comprehensively based on various aspects including model documentation, model data and parameters, model design and methodology, assumptions and limitations, model outputs, outcome analysis and sensitivity tests.
• Raise effective challenges and communicate with model owners timely.
• Document the validation results together with all challenges in the validation report in the required format.
• Support the Head of Financial and Model Risk Management to serve as the 2nd Line of Defense to review and challenge all the regulatory remediation actions related to interest rate risk.

What do you need?

• Advanced degree in quantitative discipline (e.g. Physics, Mathematics, Statistics, Economics, Finance, Engineering, Computer Science, etc.).
• Minimum 10 years’ experience in QRM.
• Strong communication skills. Be able to communicate with 1st line effectively.

Technology Skills:

• Minimum 10 years’ experience in modeling and managing Interest Rate Risk.
• Familiar with loans and investment securities such as US Treasuries, CMO, MBS, CMBS, ABS, Corporate Bonds.
• Familiar with prepayment models.
• Familiar with Non-Maturity Deposit modeling.
• Proven working experiences with regulators.

Customers Bank is an equal opportunity employer. We do not discriminate based upon race, religion, color, national origin, gender (including pregnancy, childbirth, or related medical conditions), sexual orientation, gender identity, gender expression, age, status as a protected veteran, status as an individual with a disability, or other applicable legally protected characteristics.

We also provide “reasonable accommodations”, upon request, to qualified individuals with disabilities, in accordance with the Americans with Disabilities Act and applicable state and local laws.

Diversity Statement:

At Customers Bank, we believe in working smart, working together, and having fun while delivering innovative solutions and memorable experiences for our customers. We are committed to the continual advancement of a culture which reflects the value we place on diversity, equity, and inclusion. We honor the diverse experiences, perspectives, and identities of our team members, and we recognize that it is their passion, creativity, and integrity that drives our success. Step into your future with us! Let’s take on tomorrow.

Founded in 2009, Customers Bank is a super-community bank with $20.3 billion in assets at June 30, 2022. We believe in dedicated personal service for the businesses, professionals, individuals and families we work with. We offer banking and loan services across Florida, Illinois, Massachusetts, New Hampshire, New Jersey, New York, North Carolina, Pennsylvania, Rhode Island and Texas.

Customers Bank is a member of the Federal Reserve System with deposits insured by the Federal Deposit Insurance Corporation. Customers Bank is an equal opportunity lender. Customers Bank takes pride in delivering extremely high levels of customer service while charging comparatively very low fees; service that makes our clients say, “Wow.”

Customers Bank, with its headquarters located in Malvern, Pennsylvania, is a subsidiary of Customers Bancorp, Inc., a bank holding company. The voting common shares of Customers Bancorp, Inc. are listed on the New York Stock Exchange under the symbol CUBI.

Customer Service driven VEVRAA Federal Contractor, seeking priority referral of qualified protected veterans.
Customers Bank will provide consideration for employment to qualified applicants without regard to their race, color, religion,
national origin, sex/ gender, sexual orientation, gender identity, protected veteran status or disability.

PI255247292

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