Pay PhilosophyThe typical starting salary range for this role is determined by a number of factors including skills, experience, education, certifications and location. The full salary range for this role reflects the competitive labor market value for all employees in these positions across the national market and provides an opportunity to progress as employees grow and develop within the role. Some roles at Liberty Mutual have a corresponding compensation plan which may include commission and/or bonus earnings at rates that vary based on multiple factors set forth in the compensation plan for the role.Description** This role may have in-office requirements based on candidate location**The individual will lead Corporate Operational Risk Management function with emphasis on Model Risk Management (MRM), which governs quantitative and qualitative models across their model lifecycle. The core objectives of this role are to collaborate with model developers and owners across the enterprise to:Ensure in-scope models and their controls are appropriate for use, reliably implemented, and support key business decisions and results.Standardize and centralize model risk management practices across the organization.Additional objectives include development of enterprise operational risk framework and overseeing of harmonization of operational risk practices across the company in collaboration with the SBU risk teams and ComplianceThis position has significant people, project, and framework responsibilities. It is a high-visibility position with frequent and in-depth interactions with multiple internal and external stakeholders such as actuarial and modeling groups, compliance, internal audit, business unit ERM, and regulators. The individual is expected to quickly achieve a comprehensive understanding of Liberty's modeling environment and risk management objectives and will lead the team responsible for the development and implementation of targeted group-wide Model Risk Management practices.Responsibilities:In collaboration with model developers and model owners, lead Model Risk Management activities across Liberty Mutual.Design, implement, and manage Model Risk Management policy, standards, and procedures, e.g., model risk management objectives, the framework to achieve those objectives, and model risk management best practicesDevelop and maintain the group-wide, centralized catalogue of model inventory, model risk documentation, practices employed, validation results, etc.Continually monitor portfolio of in-scope models, risk management practices employed, unresolved model risk issues, emerging risks, peer model risk practices, etc.Track regulatory developments related to model risk management and governance, and coordinate assessment of Liberty's compliance with those regulations.Serve as key point of contact for model risk inquiries from regulators, rating agencies, and other entities, and coordinate responses to those inquiries.Lead the group-wide harmonization of operational risk management methodology and support the consolidation of enterprise operational risk management platforms.Serve as a trusted advisor and provide thought leadership in operational risk management to Risk colleagues and business stakeholders, particularly related to risk identification, strategies to adequately mitigate identified risks, and performing risk and control assessments.Promote a risk-aware and change management culture within the Liberty modeling community.Develop and oversee the execution of model risk management training at the Company.Lead Liberty Model Risk Management Committee discussions as part of ERM governance structure.Partner with other assurance functions including Compliance, Information Security, and Internal Audit to ensure timely information sharing and connected operational risk views.Provide management, career development, and succession planning for a team of 2-3 analysts.QualificationsBachelor`s degree in a quantitative field or related required.Minimum of 10+ years experience in model risk management or related role (e.g., Internal Audit, Technology / Model Development or Operational Risk) with progressively increasing responsibility.Experience with Governance, Risk and Compliance systems such as OpenPages or Archer a plus.Strong knowledge of P&C Insurance business and operations a plus.Demonstrated ability to collaborate and build trust with business partners.Effective influencing and management skills.Experience developing policies to meet compliance requirements.Ability to exchange ideas and convey complex information clearly and concisely, to all levels of management.Ability to establish and build effective relationships within and outside the organization.Ability to lead, coach and develop team members.About UsAt Liberty Mutual, our purpose is to help people embrace today and confidently pursue tomorrow. That's why we provide an environment focused on openness, inclusion, trust and respect. Here, you'll discover our expansive range of roles, and a workplace where we aim to help turn your passion into a rewarding profession.Liberty Mutual has proudly been recognized as a "Great Place to Work" by Great Place to Work® US for the past several years. We were also selected as one of the "100 Best Places to Work in IT" on IDG's Insider Pro and Computerworld's 2020 list. For many years running, we have been named by Forbes as one of America's Best Employers for Women and one of America's Best Employers for New Graduates as well as one of America's Best Employers for Diversity. To learn more about our commitment to diversity and inclusion please visit: https://jobs.libertymutualgroup.com/diversity-inclusion We value your hard work, integrity and commitment to make things better, and we put people first by offering you benefits that support your life and well-being. To learn more about our benefit offerings please visit: https://LMI.co/Benefits Liberty Mutual is an equal opportunity employer. We will not tolerate discrimination on the basis of race, color, national origin, sex, sexual orientation, gender identity, religion, age, disability, veteran's status, pregnancy, genetic information or on any basis prohibited by federal, state or local law.
