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Models apply quantitative theories to process data into estimates, forecasts, and scores that are uncertain in nature, they inform decision making and can vastly improve efficiencies. The use of models introduces model risk, which is the potential for adverse consequences resulting from decisions based on model processes and output that may be incorrect or used inappropriately. The Model Risk Analyst plays a critical role in implementing and maintaining AFCU’s Model Risk Management (MRM) Program and works closely with model developers, model owners, model users, and other internal and external parties to identify, measure, monitor, and control model risk.
• Work effectively as a team member while maintaining independence and objectivity to perform model validations and ensure timely remediation of identified issues.• Promote model risk management improvements, implement automated testing practices, and evaluate ongoing model performance• Identify and maintain a centralized inventory of models, maintain the validation schedule, and documentation library.• Facilitate and implement the Credit Union’s Model Risk Management (MRM) Program and participate as a member of the MRM Committee.• Conduct periodic presentations to senior management and relevant committees. Track model performance KRIs and prepare appropriate dashboard and risk reporting.• Administer related software and manage third party relationships.• Identify emerging issues that relate to model risk. Maintain a working knowledge of applicable policies, procedures, and regulations.
Knowledge, Skills, and Abilities:
• Bachelor’s degree required in economics, mathematics, statistics, physics, finance, or related field.• Required 4-6 years of job related experience.• Programing experience with Python, R, or similar computer languages.• Strong SQL abilities and experience with both Oracle and Microsoft desired.• Preferred experience in financial services as a Data Scientist, Data Analyst, Risk Analyst, Model Developer, Model Validator, or similar position. Preferred experience with analytics software, relational databases, and/or big data.• Knowledge of regulatory requirements related to model risk management.• Understanding of statistical modeling, forecasting, machine learning, and data analytics.• Excellent communication skills, verbal and written, with ability to translate complex statistical or economic theories and analysis into practical implications for business teams and management.• Ability to work independently, as part of a team, and to lead. Strong work ethic.
Full Time
Banking
12/01/2022
12/13/2022
americafirst.com
PROVO, UT
1,000 - 3,000
1939
$200M - $500M
Banking
Our mission is to provide personal financial services of a superior quality to the members/owners; our chief concern being their financial well-being. We desire to be the primary financial institution of our members. We will use automation and technology to support a highly trained group of volunteers and staff. Professional managers will be accountable for the quality of service and will be given sufficient flexibility in implementing policy to ensure that the member perceives the highest degree of excellence in every contact. Professional marketing will provide aggressive programs to sustain... and increase growth. We will seek our growth both from new members and by serving the financial needs of present members in a more complete manner. We will not sacrifice quality of present services to seek growth. In order to provide quality member services, the credit union must remain financially sound and secure. Adequate operating controls, capital reserves and liquidity will be maintained at all times. We will be sales oriented in our approach to members, and traditional credit union philosophy will remain our guiding principle. Among financial institutions, this credit union is a unique organization with deep and abiding human values. Our goal is to maintain those qualities. 13 August 1985
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The job skills required for Model Risk Analyst include Analysis, SQL, Python, Oracle, Financial Services, Presentation, etc. Having related job skills and expertise will give you an advantage when applying to be a Model Risk Analyst. That makes you unique and can impact how much salary you can get paid. Below are job openings related to skills required by Model Risk Analyst. Select any job title you are interested in and start to search job requirements.
The following is the career advancement route for Model Risk Analyst positions, which can be used as a reference in future career path planning. As a Model Risk Analyst, it can be promoted into senior positions as a Data Modeling Analyst, Sr. that are expected to handle more key tasks, people in this role will get a higher salary paid than an ordinary Model Risk Analyst. You can explore the career advancement for a Model Risk Analyst below and select your interested title to get hiring information.