Produce clear and in-depth model validation reports.
Evaluate conceptual soundness of model specifications, reasonableness of assumptions, reliability of data/inputs, completeness of outcomes analysis, implementation testing, model performance metrics/thresholds, and model use testing.
Assess and measure the potential impact of model limitations, parameter estimation error or deviations from model assumptions; compare model outputs with empirical evidence and/or outputs from model benchmarks.
Detail documentation of testing, observations, potential issues, management action plans, and remediation progress.
Evaluate model monitoring performance reports on an on-going basis and provide recommendations.
Update model inventory model validation findings inventory, model risk ranking, and data governance framework.
Prepare regular and ad-hoc reports for various committee meetings.
Produce accurate and concise meeting minutes.
Collaborates with management, model owners/users and third parties on matters pertaining to model risk management.
Assist with preparing responses to Bank examiners and Internal/External Auditors.
Assist with various other governance activities and produce various model risk related documents as needed.
Gain in-depth understanding of the latest industry research and standards on modeling and regulations.
Job Qualifications/Requirements
Minimum Education Level: Bachelor’s Degree (Master or PhD preferred) in finance/business/economics, mathematics/statistics, engineering
Required: 3+ years of experience with model validation or development
Required: Strong technical writing, communication, verbal, and interpersonal skills
Required: Experience in designing tests, model outcomes analysis, scenario analysis, sensitivity analysis, and back-testing
Preferred: Knowledge of statistical/financial models in areas of Credit/Market/Operational Risks or Anti-Money Laundering
Preferred: Knowledge of banking systems and products and risk management methodologies
Preferred: Knowledge of model risk management and associated regulatory requirements such as SR11-7, SR12-7, SR16-12 etc.
Preferred: Proficient in SAS, R, Python, VBA, SQL programming
Preferred: Industry certifications such as FRM, PRM or CFA
Preferred: Strong project management capabilities
Preferred: Discipline, task focus, self-motivation and a proven record of delivering high quality results within strict deadlines
Preferred: Experience working with large databases
The salary range for this full-time position is $85,000 - $95,000 + bonus + benefits
Salary ranges are determined based on qualifications, level, and location.
Exact compensation may vary based on your skills and experience.
This job description is a summary of the job duties and requirements that are essential to the evaluation of the job.
It is not intended to be complete in detail.
These responsibilities are typical for this job; however, on occasion, individuals in this position may be required to perform functions of a higher or lower skill level not included in this job description.
Whatsapp
