The Model Risk Management (MRM) Analyst/Validator reports to the Model Risk Program Manager and serves as a technical authority in the Model Risk Management Group to help manage the risk of potential adverse consequences resulting from model error or misuse of a model. To manage model risk effectively, the Bank needs to monitor, review, and validate the RTC bank-wide inventory of models, including models that significantly impact: credit decisions, credit loss estimates, risk forecasting and stress testing, operations, asset/liability management, liquidity and market risk management, and transaction monitoring for anti-fraud and anti-money laundering compliance. 

This position is responsible for validating or validation report review and challenge, reviewing and effectively challenging models including underlying model assumptions and limitations, theory, and empirical evidence. The MRM Analyst/Validator conducts testing, provides critical review of conceptual soundness and model performance, writes validation reports describing the results of validation testing, reviews validation reports prepared by other independent parties, reviews model owners’ responses to validation findings and recommendations, and interfaces with internal stakeholders and regulators to communicate findings in model risk, including management or governance committees, as appropriate