Work Location:

Dublin, Ireland

Hours:

35

Line of Business:

Risk Management

Pay Details:

We’re committed to providing fair and equitable compensation to all our colleagues. As a candidate, we encourage you to have an open dialogue with a member of our HR Team and ask compensation related questions, including pay details for this role.

Job Description:

Job Title: Director, Model Risk

Job Level: Director, L11

Job Type: Regulated (CF-2)

Material Risk Taker: Yes

Business/Product Group: Risk Management, TDGF

Location: Dublin, Ireland

Committee Membership: TDGF Executive Risk Committee (voting member)

Reports to: Chief Risk Officer, TDGF

Direct Reports: N/A

Please note that the information set out in this job description is intended to be consistent with your primary activities and areas of responsibility as a regulated Controlled Function role in scope of the Central Bank of Ireland (CBI) Fitness & Probity Regime under the Central Bank Reform Act 2010.

The contents of this job description may need to be amended in the event that your responsibilities change.

If at any time you think that your responsibilities set out in this job description have changed, you should contact Human Resources as soon as possible.

Position Summary: (Overview of key purpose and accountability of the role)

The role will support the TDGF CRO in the establishment of the model risk function in TDGF, working in close collaboration with the TD Bank Group (TDBG) Model Risk Management function.

The role will be responsible for independent oversight of the identification and assessment, measurement, control, monitoring and reporting of model risk for TDGF, confirming compliance with regulatory requirements and internal frameworks and policies.

Specific Responsibilities:

Support the TDGF CRO in all matters relating to second line oversight and challenge of model risk for TDGF.
Responsible for implementing the TDGF Model Risk Management Framework, which is aligned with the TDBG Model Risk Management Framework.
Responsible for confirming that TDBG Model Risk Management policies and procedures are appropriate for TDGF and/or for developing local policies and procedures as required.
Responsible for maintaining the inventory of models applicable to TDGF and for verifying that all appliable models have been identified and registered in the model inventory.
Responsible for reviewing the group model risk rating methodology for appropriateness for adoption by TDGF.
Responsible for establishing a Local Suitability Assessment (LSA) process under which all group models leveraged by TDGF will be assessed, and responsible for completion of the LSAs
Responsible for model validations for TDGF-specific models.

Responsible for TDGF model risk Key Risk Indicator (KRI) dashboard reporting, reviewing breaches of KRIs, and confirming any breaches are escalated and actioned appropriately.
Provide analysis and interpretation, and consolidation of model risk reporting to the TDGF CRO for onward reporting to TDGF committees and the TDGF Board.

Voting member of the TDGF Executive Risk Committee.
Support the TDGF CRO in establishing a TDGF Model Risk Forum.
Propose activities for inclusion in the annual TDGF Risk Assurance Plan.
Responsible for oversight of outsourced second line Model Risk Management activities in accordance with the TDGF Outsourcing Policy
Monitor TDGF regulatory requirements with regard to model risk, communicating any relevant changes or potential compliance gaps to senior management.
Support senior management in regulatory engagement, queries and remediation activities.
Communicate and escalate all matters relating to material risk in a timely, accurate, and forthright manner and within established governance frameworks
Ad hoc projects and initiatives as required.

Skills and Experience:

Ability to provide effective challenge to regional senior management and business heads as appropriate
Ability to explain risk issues to diverse stakeholders
Strong knowledge of ECB/SSM supervisory frameworks, Central Bank of Ireland regulation and regulatory requirements for model risk, EBA and EU financial services legislation.
Strong industry knowledge and awareness (including regional practices in wholesale banking).
Extensive communication and stakeholder management skills, with demonstrated ability to engage effectively with Boards, senior executives and regulators.
Demonstrated ability to maintain independence, execute and advise with integrity, and an ability for sound, balanced judgement.
Professional Business, Accounting or Risk qualification at university level preferred.

Management Responsibilities:

Responsible for identifying and reporting Operational Risk Events in accordance with policy.
Responsible, along with all colleagues, to contribute in a positive way to TDGF's reputation and the management of Reputational Risk. Every employee is expected and required to follow ethical practices at all times, including compliance with applicable policies, legislation and regulations and support positive interactions with TDGF's stakeholders including clients, industry bodies, industry participants, public bodies, regulators and vendors.
Responsible for good conduct and for contributing to the identification and management of Conduct Risk within their team and function.

Regulatory Requirements: (CF role holders)

The role holder must observe proper standards of market conduct. It is the role holder's responsibility to demonstrate that the role holder takes reasonable steps to be fully aware of, understand and comply with all regulatory requirements from all regulatory bodies that are applicable to the role holder's business. You will promptly report to your supervisor(s) or manager(s) any instances in which you are aware of any violation or possible violation of such regulatory requirements by yourself or others.

In particular, as a Controlled Function for the purposes of the CBI's Fitness and Probity Regime (F&P), you must be aware of and comply with your obligations under the regime.

The F&P Standards require that a person must be:

Competent and capable;
Act honestly, ethically and with integrity; and
Be financially sound.

Central Bank of Ireland Conduct Standards

In addition to the responsibilities set out in this job description, as well as TD’s own policies and procedures (see below), the role holder is required to comply at all times with the CBI Conduct Standards. The following Conduct Standards apply to the role holder:

Common Conduct Standards:

Acting with Honesty and Integrity.
Acting with Due Care and Diligence.
Co-operating in Good Faith and Without Delay.
Acting in the Best Interests of Customers and Treating Them Fairly and Professionally.
Operating in Compliance with Standards of Market Conduct and Trading Venue Rules.

TD Policy Requirements

It is the role holder's responsibility to demonstrate that they are fully aware of and adhere to internal TD Policies that relate to the role holder, the business or function for which the role holder has responsibility or other businesses or functions for which the role holder has any level of responsibility.

It is the role holder's responsibility to read, understand and comply with TD's Code of Conduct and Ethics (Code) and corresponding regulations. The Code establishes the standards that govern the way we deal with each other, our customers, shareholders, governments, regulators, suppliers, competitors, the media and the public at large. The role holder will be notified of changes to policies in a timely manner through announcements and/or intranet updates.

The role holder must act with integrity and due skill, care and diligence in carrying out their duties. Actions should always be able to satisfy high standards of scrutiny.

Management should be kept fully informed at all times of all Regulatory and Compliance issues. The role holder must deal with TD Management, Compliance, regulators and all control functions in an open and cooperative way and must disclose appropriately any information which TD Management, Compliance, regulators or control functions would reasonably expect to know.

The role holder must ensure that they are fully aware of their management reporting lines and escalation procedures.

If the role holder isa Manager/Supervisor, the role holder is also responsible for ongoing and effective supervision of the employees under their direction and ensure their adherence to regulatory requirements. The role holder will promptly report to TD Management and Compliance any violation or possible violation of such regulatory requirements identified as part of their supervisory responsibilities.

The role holder must take reasonable steps to demonstrate that the business of the firm for which they are responsible is organized so that it can be controlled effectively and that they exercise due skill, care and diligence in managing that business.

It is the role holder's responsibility to be fully aware of:

The scope of their management responsibilities.
The scope and nature of their role and responsibilities as a Senior Executive for the purposes of the CBI Senior Executive Accountability Regime.
The TD Policies and regulatory requirements pertaining to the business/activities they are managing.
The competence level of the staff reporting to the role holder.
The control limits and the role holder's ability, if any, to delegate them within their business or function.
The requirements to demonstrate that the role holder receives adequate and appropriate management reporting.

Who We Are

TD is one of the world's leading global financial institutions and is the fifth largest bank in North America by branches/stores. Every day, we strive to make every interaction, product, and experience remarkably human and refreshingly simple for over 27 million households and businesses in Canada, the United States and around the world. More than 95,000 TD colleagues bring their skills, talent, and creativity to foster deeper relationships, ensure disciplined execution, and build a simpler, faster banking experience. TD is deeply committed to being a leader in client experience, that is why we believe that all colleagues, no matter where they work, are client facing. Together, we are reimagining what banking can be for our clients, colleagues and communities.

Our Total Rewards Package
Our Total Rewards package reflects the investment we make in our colleagues to help them, and their families achieve their well-being goals. Total Rewards at TD includes a base salary and several other key plans such as health and well-being benefits, including medical coverage, paid time off, career development, and reward and recognition programs.

Additional Information:
We’re delighted that you’re considering building a career with TD. Through regular development conversations, training programs, and a competitive benefits plan, we’re committed to providing the support our colleagues need to thrive both at work and at home.

Colleague Development

If you’re interested in a specific career path or are looking to build certain skills, we want to help you succeed. You’ll have regular career, development, and performance conversations with your manager, as well as access to an online learning platform and a variety of mentoring programs to help you unlock future opportunities.

If you’re passionate about helping clients and building deep, lasting relationships, TD offers diverse career paths where you can grow your expertise and make a meaningful impact.

We're committed to your success and foster a respectful workplace where diverse perspectives are valued, everyone has fair opportunities to grow, and you can unlock your full potential to achieve your career goals. Here at TD, we hire and develop the best.

Training & Onboarding
We will provide training and onboarding sessions to ensure that you’ve got everything you need to succeed in your new role.

Interview Process
We’ll reach out to candidates of interest to schedule an interview. We do our best to communicate outcomes to all applicants by email or phone call.

Accommodation

If you require an accommodation for the recruitment / interview process (including alternate formats of materials, or accessible meeting rooms or other accommodation), please let us know and we will work with you to meet your needs.

Director, Model Risk

Benefits

Job Description