Job Details

Federal Home Loan Bank - Cincinnati: Model Risk Officer

Location:   Cincinnati, OH

Salary:   $130,000 - $175,000 (based on experience) plus 25% annual bonus potential



  • Are you looking to join an organization where you can be part of the risk team ensuring the models are in line with bank policies and regulatory compliance?
  • Are you looking for an opportunity to grow, lead, and mentor a small team of model risk analysts?
  • Do you want to be part of a mission-driven bank?



The Federal Home Loan Bank of Cincinnati is a regional wholesale bank providing financial services for residential housing and economic development to 618 member-stockholders in the FHLB System’s Fifth District of Kentucky, Ohio, and Tennessee. Eligible stockholders include banks, thrifts, credit unions, insurance companies and community development financial institutions.  They are one of 11 Federal Home Loan Banks nationwide, a system created by Congress in 1932 to support housing finance.  Their mission is to provide members with reliable funding to support housing finance, affordable housing and community investment, and assists with their balance sheet management.



The Model Risk Officer independently manages the Bank-wide model risk management program aimed at ensuring models and related processes comply with internal policies and regulatory guidance, reflect best practices for their use and operations, and adhere to a strong control environment. Provides expert-level guidance and consultation related to the use, development, and maintenance of models used throughout the Bank. Actively supports the enterprise risk management function of risk oversight and business-partner collaboration. The Model Risk Officer:

  • Manages the development, implementation, maintenance, monitoring and communication of the model risk management program.
  • Administers the policies, guidance and procedures related to model risk management, and provides expert guidance and advice to model owners to ensure the development and use of models are aligned with best practices reflected in the Model Governance Policies and related guidance and procedures.
  • Independently performs and manages complex validations of Bank models at an expert level.
  • Leads the hiring, training, leading, managing, and mentoring of model risk analysts. Consults with senior management on complex or sensitive employee issues. Maintains and promotes positive employee relations.
  • Advises/consults as an independent risk-focused business partner with model owners on best practices for use and evaluation of risks in using models, including stress testing, scenario analysis, back-testing, benchmarking, and research on model theory and methodologies.
  • Independently researches vendors and provides recommendations to model owners for outside third-party validations. Provides engagement oversight and assistance to external validations.
  • Provides assistance on monitoring and governance of end-user compliance activities especially as related to models.
  • Actively supports efforts to develop, apply, and maintain the Bank-wide enterprise risk management program, especially related to models.
  • Actively supports efforts to develop, apply, and maintain the Bank-wide enterprise risk management program, especially related to model and EUC risks.
  • Performs additional duties as requested by management.



  • A Master’s Degree / MBA in business administration, finance, economics, math, or financial engineering .
  • Excellent analytical, modeling, and quantitative skills including economic, financial, risk, or quantitative/mathematical analysis.
  • 7 years’ experience in model validation and/or model development at a financial institution, rating agency, regulatory agency, or as a financial industry consultant.
  • In dept knowledge of concepts, practices, and applications in risk management particularly, but not limited to, model risk.
  • Experience with some/all of the following regulatory guidance:
    • Federal Reserve: SR 11-7
    • FHLBs or Fannie/Freddie Mac (FHFA Regulators): AB 2013-07
    • OCC Guidance: OCC Bulletin 2011-12



  • Attention to detail, initiative, ability to work independently, and a strong work ethic.
  • Strong communication skills, both verbal and written, to research, create, and present reports and analyses.
  • Demonstrated commitment to diversity and inclusion. Promotes an environment of empathy and respect. Advocates for diversity at all levels of team members and in the selection of business partners and practices inclusion in all areas of responsibility. Supports D&I events and learning opportunities.



Gilman Partners is committed to strengthening leadership teams and elevating the talent in our communities – and that means all qualified applicants will receive consideration without regard to race, ability, religion, sex, age, sexual orientation, gender identity/expression, or national origin. You don’t have to meet every qualification in this job description to apply. If you’re drawn to the position and believe your experience makes you a good fit, we encourage you to reach out.



This is a hybrid work model.


Sarah Benner, Search Operations Manager