ModelRiskMgmt ValidtnAnalystSr

Westbury, NY, United States - Compliance & Risk Management - Posted Aug 21, 2018
Requisition Number: 180000PL

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A Senior Model Risk Management Validation Analyst provides subject matter expertise to support the implementation and execution of bank wide model governance policy (MGP). This includes the review of complex models used within the organization, data analysis and the creation of new challenger models, preparation of model documentation protocols, development and maintenance of model risk reporting and maintenance of the model inventory. The Senior Validation Analyst assesses model risks and limitations, makes model change recommendations, follows up with model owners and tracks ongoing model risk issues. The Senior Validation Analyst applies advanced knowledge of and possesses in-depth experience in stress testing, portfolio Asset Liability Management (ALM), mortgage banking, multi-family and commercial real estate lending, credit risk analytics or mortgage compliance.



Provides independent review of model validations, effectively assessing the validity of issues raised and methodological approaches for the proper resolution of these issues.{Subject matter expert performs independent validation of selected models to assess the conceptual soundness of model design and development, key assumptions about data transformation and imputation, the underlying statistical or econometric estimation technique, and the rigor in back-testing and ongoing model performance monitoring. {Reports regularly to manager on the compliance with the MGP.{Develops and maintains effective partnerships with analysts, model validation vendors, model owners, business level risk management teams and auditors, internal and external.

Provides & effectively communicates recommendations for the design, development, back testing, implementation and recalibration of models owned by the model development team. Follows through with partners to obtain acceptance of these model recommendations in a timely manner.

Assists in the review and validation of model performance and controls, including establishing the model validation scope, assessment of validation results and directing communication with stakeholders.

Assists in the development and maintenance of the model inventory ensuring the inventory is complete and accurate.

Tracks model remediation progress over time and reports resolution status for identified model deficiencies.

Assists in the development and maintenance of comprehensive reporting on the deficiencies identified, remediation status, and other critical data elements with respect to remediation.

Organizes and maintains all department documentation and reporting in an efficient manner.



Performs special projects, and additional duties and responsibilities as required.{Where applicable and when performing the responsibilities of the job, employees are accountable to maintain Sarbanes-Oxley compliance and adhere to internal control policies and procedures.



Master's degree in Economics, Finance, Mathematics, Computational Finance or related fields required.

Four (4) years of experience validating bank related models.



Knowledge of stress testing regulations and requirements.{Knowledge of banking and credit risk analysis & management, including key risk drivers.

Knowledge of basic risk management concepts and principles, valuation of basic instruments and basic accounting principles.

Knowledge of financial markets, interest rates and potential impact of current economic activity.{Advanced quantitative and analytical skills.

Excellent knowledge of statistics, mathematics and financial risk modeling.

Advanced proficiency in SAS, Excel, R and VBA.

Strong problem solving and research abilities.

Excellent verbal and written communication skills.

Good project coordination and organizational skills.

Ability to orient, mentor, train and assist less experienced staff.{Ability to multi-task and prioritize work appropriately.

Ability to work with all levels of management and staff across all lines of business in the Bank.

Ability to work independently and on a team and follow through assignments to completion.



New York Community Bancorp, Inc. (NYSE: NYCB) is one of the 25 largest bank holding companies in the nation, with assets of $48.3 billion and a market cap of $6.4 billion at June 30, 2017. With deposits of $28.9 billion and 255 branches in Metro New York, New Jersey, Florida, Arizona, and Ohio, NYCB also rank among the largest depositories in the United States. NYCB operates through two banks with eight local divisions - New York Community Bank a savings bank with 225 branches throughout our five-state franchise; and New York Commercial Bank which has 30 branches. With a longstanding reputation for strength, stability and service, NYCB is proud to be committed to the communities it serves. To learn more about the NYCB Family of Banks visit us at


BRANCH OUT and help recruit top talent for NYCB through the employee referral program. All NYCB employees are encouraged to submit referrals. Locate top talent right in the community where you live, work and play. Amazing individuals are all around be sure to let them know how they can become a part of the NYCB family.


NYCB is an equal opportunity employer that prohibits discrimination in hiring or terms and conditions of employment on the basis of race, color, age, sex, national origin, ethnicity, religion, marital status, disability, military status, veteran status, domestic violence victim status, gender identity or expression, sexual orientation, genetic information or any other classification protected by the federal, state, and local laws and ordinances.


This policy is applicable to all terms and conditions of employment including, but not limited to: recruitment and selection, promotion and demotion, transfer, training and development, compensation, benefits, leaves of absence and termination. When necessary, NYCB will reasonably accommodate employees and applicants with disabilities or with religious requirements necessitating accommodation.


In addition, NYCB complies with all applicable laws which govern nondiscrimination in employment in every location in which NYCB does business.

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