Model Risk Mgmt Intern

Full-time
Westbury, NY, United States - Compliance & Risk Management - Posted Dec 17, 2018
Requisition Number: 180000Y0

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Description

JOB SUMMARY

 

A Model Risk Management Intern supports the implementation and execution of Bank wide model risk management policies and procedures, including model governance and performance monitoring, in conformance with regulatory guidance. 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 analyst assesses model risks and limitations, and makes recommendations.

 

ESSENTIAL FUNCTIONS

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 the Model Risk Manager on the compliance of the model risk management program, including policies and procedures, with respect to its progress, working issues, and challenges. Develops and maintains effective partnerships with the model 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. 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.

 

EDUCATION AND EXPERIENCE

Bachelor's or Master's degree, in Statistics, Finance, Econometrics or Mathematics/Engineering area with a High GPA. Advanced bank risk management experience preferred.

 

KNOWLEDGE, SKILLS AND ABILITIES{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.

 

ABOUT NEW YORK COMMUNITY BANCORP, INC.

Based in Westbury, NY, New York Community Bancorp, Inc. is the parent company of New York State- chartered New York Community Bank. At September 30, 2018, the Company had assets of $51.2 billion, deposits of $30.3 billion, and stockholder's equity of $6.8 billion.

New York Community Bank serves customers through over 250 branches featuring a divisional structure: Queens County Savings Bank, Roslyn Savings Bank, Richmond County Savings Bank, Roosevelt Savings Bank and Atlantic Bank in New York; Garden State Community Bank in New Jersey; Ohio Savings Bank in Ohio; and AmTrust Bank in Florida and Arizona. With a longstanding reputation of 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 www.MyNYCB.com .

 

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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