What The Role Is

This role is responsible for continuous monitoring and evaluation of the Company's model risk management activities. Key responsibilities encompass model validation, ensuring the ongoing performance of financial and risk models. The business risk analyst will maintain and refine model risk policies, procedures, and reports. They will also be tasked with meticulously documenting meeting discussions, decisions, and model validation results. Active participation in model risk assessments is essential, and the analyst will compile and organize materials for presentations to both internal management and board committees.

Maintains up-to-date Model Risk Management Procedure and provides updated information to the Model Risk Manager for reporting to Committees.

Provides Model Risk Management Policy to appropriate staff /departments as policy is revised and reaffirmed.

Provides support and guidance to staff / departments / model owners relative to the correct application of the Model Risk Management Policy as it applies to respective model operations within each business line.

Maintains and updates the enterprise-wide Model Inventory as well as the Non-Model Sophisticated Spreadsheet Inventory and circulates updated information to Internal Audit for use during audits of model owners.

Conducts validations of statistical models.

Participates in the solicitation and evaluation of model validation proposals from suitable vendors for those models targeted for external validation.

Tracks model validations (internal and external) to determine each model is validated at the frequency indicated within the Model Inventory. Obtains copy of validation report, management's response to findings (if applicable) and support documentation on each validation.

Tracks all model validation findings and performs follow-up reviews to confirm resolution actions taken by model owners to address noted findings are well documented and complete.

Performs and documents routine quarterly reviews of each model operation to determine appropriate ongoing monitoring procedures are in place, support documentation evidence monitoring has been performed, and frequency of tests are appropriate for the respective model being reviewed.

Conducts an annual enterprise-wide Model Risk Assessment in consultation with model owners.

Reports any observed illegal or unethical behavior, violations of the Code of Conduct, or any known weaknesses/breaches in internal control.

Who You Are

Master's in a quantitative discipline with 3-5 years experience or PhD in a quantitative discipline with 1-2 years experience

Proficient in Microsoft Office Suite and Google Suite; knowledge of database infrastructure is a plus (Microsoft SQL preferred)

Quantitative, analytical and/or statistical skill-set is desired.

Ability to evaluate processes, identify risk, and evaluate controls.

Excellent documentation and organizational skills.

Excellent communication skills (written and oral)

Must be a team player.

Must be a self-starter and excel at time management.

Regular and reliable attendance.

Works cooperatively with others.

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