Model Risk Manager

Silvergate Capital Corporation (NYSE: SI) is the leading provider of innovative financial infrastructure solutions and services for the growing digital currency industry. The Company’s real-time payments platform, known as the Silvergate Exchange Network, is at the heart of its customer-centric suite of payments, lending and funding solutions serving an expanding class of digital currency companies and investors around the world. Silvergate is enabling the rapid growth of digital currency markets and reshaping global commerce for a digital currency future. Challenging convention by empowering people allows us to exceed expectations for our clients while cultivating an awesome culture.

The Model Risk Manager plays a leading role in implementing and executing Silvergate’s Model Risk Management (MRM) program. The candidate works closely with model developers and owners, and coordinates with partners in Audit, Compliance, and Risk.

COMPENSATION

The pay range for this position is $162,000 – $198,000 annually. This position is eligible for Silvergate’s comprehensive Health and Welfare plans including but not limited to medical, dental, vision, 401(k) retirement plan, and paid time off. The total compensation for this position may include an annual performance bonus (or other incentive compensation, as applicable). Silvergate’s compensation packages carefully consider a candidate’s qualifications, experience, and education in relation to the position.

ESSENTIAL DUTIES AND RESPONSIBILTIES

• Guide model owners and users in the development and implementation of effective controls
• Conduct independent validations to identify and manage risks specific to a model
• Pinpoint risks shared by a range of models and estimate the potential impact on the bank
• Develop systems for monitoring and evaluating model performance
• Clearly communicate review findings and ongoing analysis to senior management and model owners
• Track findings and ensure that they are addressed in a timely manner
• Maintain the Enterprise’s model inventory and model documentation library and validation review schedule
• Monitor internal/external audit and regulatory issues to ensure timely remediation
• Establish and maintain relationships within assigned business units and throughout the enterprise
• Maintain current knowledge of all federal and state laws and regulations, along with the Company’s policies and procedures
• Not to harm consumers with any act that could be misleading, unfair, deceptive, or abusive in act or practice
• Must adhere to the company’s core values of Challenge Convention, Do What’s Right, Take Ownership, Empower People, Exceed Expectations, and Cultivate Awesome all while keeping our “Why?” front of mind. Our Why? Silvergate is the banking platform for innovators, and we believe in the power of entrepreneurs to create prosperity for our communities

KNOWLEDGE, SKILLS, AND ABILITIES

• Bachelor’s degree in a quantitative discipline (e.g. Statistics, Engineering, Mathematics, etc.) and 7+ years of relevant experience OR Graduate degree in a quantitative discipline (e.g. Statistics, Engineering, Mathematics, etc.) and 5+ years of relevant experience
• In-depth knowledge of regulatory guidance (OCC 2011-12/SR 11-7)
• Proficiency in R and / or Python
• Superior written and oral communication skills, with the ability to communicate effectively at all levels of the organization with particular emphasis on being able to articulate complex topics in a manner digestible to a wide audience
• Ability to work with and manipulate large data sets
• Demonstrated self-starter who can work independently with minimal supervision as well as in a highly collaborative team
• Ability to manage multiple projects at once and meet deadlines
• Some experience working under the Agile framework would be preferred

BANK SECRECY ACT

Responsible for adhering to the reporting and recordkeeping requirements of the Bank Secrecy Act and Anti-Money Laundering rules and regulations, observing economic sanctions by prohibiting transactions as specified by the Office of Foreign Asset Control (OFAC), following the Company’s customer identification program (CIP) rules, observing all Bank policies and procedures relating to BSA, OFAC, CIP, and related acts, and participation in ongoing related training.

WORK CONDITIONS

Remote work environment.

PHYSICAL DEMANDS

While performing the duties of this job, the employee is:

• Regularly required to talk or hear
• Required to sit for long periods and reach with hands and arms
• Occasionally required to stand; walk
• Occasionally required to lift up to 10 pounds (items such as computer and workstation equipment)
• Must be able to communicate with customer and coworkers verbally and in writing
• Able to read documents, computer screens, reports, other communications and have the ability to adjust focus and close vision

This job description does not include every duty or responsibility that a person in the role may be asked to perform.