Model Risk Senior Analyst – Validation [Multiple positions available]
New York, New York, United States · Hybrid
$155k–$165k/yr
Senior
Title: Model Risk Senior Analyst – Validation [Multiple positions available] Job Location: 277 Park Avenue, New York, NY 10172. Position requires in-office work four (4) days every week. Job Description: Conduct independ…
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$155k–$165k/yr
Full-time
postgraduate degree
Posted 10d ago
Apply by Sep 1
~40 hrs/week
Responsibilities
Conduct independent review and validation of various bank models to ensure compliance with regulatory standards like SR 11-07. Collaborate with internal stakeholders to manage model risk, document findings, and maintain internal control standards.
Requirements
Requires a Master's degree in a quantitative field and at least five years of experience in model validation or related roles. Candidates must demonstrate proficiency in statistical modeling, programming languages like Python and SAS, and regulatory stress testing requirements.
Full job description
Title: Model Risk Senior Analyst – Validation [Multiple positions available]
Job Location: 277 Park Avenue, New York, NY 10172. Position requires in-office work four (4) days every week.
Job Description: Conduct independent review and validation of selected models used in the organization, focused on assessing risk and validating specific categories of models across the Bank, and ensure compliance with SR 11-07. Use SAS, SQL, Python, R and Excel to extract and analyze data from source systems for use in model validation. Review and validate models used across the Bank for capital stress testing, risk measurement and prediction, pricing, profitability, credit loss forecasting, wealth management, marketing, compliance, profitability and management decision-making, and other functions as needed. Independently review model’s theoretical basis, performance, monitoring, assumptions, as well as implementation. Review remediations for the findings identified. Compose validation report and memo that describes the validation work conducted, effective challenge to the model, gaps and findings identified during the validation. Collaborate with the team lead or manager to review and confirm proper controls and adequate documentation are in place. Effectively interact with specific lines of business and/or support areas including Credit Risk, Finance, Treasury to manage model risk. Track and document progress of the validation. Maintain internal control standards, including timely implementation of internal and external audit points together with any issues raised by external regulators as applicable. Responsible for day-to-day model validation activities. Plan, organize, and produce results. Interact with internal and external stakeholders/vendors to manage model risk and maximize shareholder return. Complete ad-hoc analysis timely upon requests. Develop standard of model validation tasks and automation codes.
Minimum requirements: Master’s degree (or foreign equivalent) in Mathematics, Statistics, Quantitative Finance, Economics, or a related field of study plus five (5) years of experience in the job offered or as a Model Validation Manager, Model Risk Management Analyst, Model Developer, or related occupation.
Requires five (5) years of experience in each of the following:
Performing validations of credit models or liquidity models.
Working with regulator’s requirement of capital stress testing.
Evaluating model’s performance and fit for stress testing usage, using well designed shocks from relevant economic factors, and working with specific independent variables and stress scenarios.
Building logistic regression models, linear regression models, and time series models assessing their assumptions and performance.
Using SQL, SAS, and Python to pull data, analyze data, assess data quality, estimate model parameters for logistic regression, linear regression and time series models
Using SAS or Python to assess model and business assumptions and ongoing model performance.
Salary: $155,471.50-$165,471.50 per year
Location
New York, New York, United States of America
Related keywords
Model RiskValidationSASSQLPythonRExcelSR 11-07Capital Stress TestingCredit RiskLiquidity ModelsLogistic RegressionLinear RegressionTime Series ModelsQuantitative FinanceMathematics
Great companies have an enduring sense of purpose. At M&T, our purpose is a simple one: make a difference in people’s lives and uplift the communities we serve. Founded in 1856 in Buffalo, NY we are now a top 11 full-service US-based commercial bank with a retail footprint across the east coast and wealth services available nationwide and abroad. As a bank, we offer advice, guidance, expertise, and solutions across the entire financial spectrum that combines M&T’s traditional banking services with the wealth management and institutional capabilities offered by Wilmington Trust. We are a community-minded organization with more than 167 years of experience. We serve customers, community, and colleagues whether they be across the street, across the state or across the country.
As an employer of choice, we are proud to offer competitive benefits ranging from medical and retirement to forty hours of paid volunteer time, each year. Our core values drive the work we do – integrity, ownership, collaboration, curiosity, candor and we seek to further build upon our record of success by bringing in top talent and fresh skill sets while continuing to support the growth and development of all our team members.
M&T Bank is unwavering when it comes to providing equal employment opportunities to all employees and applicants without regard to race, color, national origin, religion, ethnicity, sex, gender identity, age, disability, citizenship, pregnancy, veteran status, military status, marital status, sexual orientation, genetic information or any other characteristic protected under applicable federal, state or local laws.
Offices: 345 Main St., Buffalo, New York 14203, US · 1 Light St., Baltimore, Maryland 21202, US · 1100 N. Market St., Wilmington, DE 19801, US
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