Westbury, NY, United States - Compliance & Risk Management - Posted Oct 29, 2018
Requisition Number: 180000UH
A Model Risk Management Validation Analyst supports the implementation and execution of Bank wide model governance policy (MGP). This includes the review of complex models used within the organization, model documentation protocols, development and maintenance of model risk reporting and maintenance of the model inventory. The Validation Analyst assesses model risks and limitations, makes recommendations, follows up and tracks ongoing model risk issues.
Provides independent review of model validations, effectively assessing the validity of issues raised and methodological approaches for the proper resolution of these issues. Reports regularly to manager on the compliance of the MGP. Develops and maintains effective partnerships with analysts, model owners, business level risk management teams and auditors, internal and external. Provides recommendations for the design, development, back testing, implementation and recalibration of models owned by the model development team. 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 remediation progress and 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.
EDUCATION AND EXPERIENCE
Bachelor's degree in Economics, Finance, Mathematics, Computational Finance or related field required. Master's degree preferred. Three years of experience validating bank related models.
KNOWLEDGE, SKILLS AND ABILITIES
Knowledge of stress testing regulations and requirements. Knowledge of banking and credit risk 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. Strong quantitative and analytical skills. Excellent knowledge of statistics, mathematics and financial risk modeling. Proficiency in SAS, Excel, Matlab, R and/or VBA. Strong problem solving and research abilities. Excellent verbal and written communication skills. Good project coordination and organizational skills. 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.