Model Validation Analyst
Company Name:
RM Staffing Associates
Our client, a financial service corporation is looking to hire mid level and senior level model validation analysts. The Model Validation Group performs model validation activities for the organization. As a member of Model Validation Group (MVG), the incumbent will participate in all aspects of model validation activities. The MVG is a centralized organization responsible for evaluating model risk for all parts of the enterprise. Incumbents of this position will perform validations of the client's high impact models in compliance with OCC 2011-12 and the client's Model Validation Policy and Guidelines. Incumbents will document and present the model validation results to the Model Validation Committee.
This is a highly visible role in which the incumbent will interact extensively with model developers and senior managers throughout the bank and present findings and recommendations to senior leaders.
This position provides a unique opportunity to learn about and evaluate all types of banking models including market risk, credit risk, and operational risk models. Specific model types include Var Models, simulation models, pricing and asset valuation models, capital models, loss forecasting models, credit scoring models, trading models, and asset and liability management models, among others. These models are applied to a wide variety of assets and liabilities including retail deposits, commercial loans, equity holdings, commercial real estate loans, securitized products, mortgages, mortgage servicing rights, home equity, auto, and student loans, as well as credit card receivables.
Primary
Responsibilities:
Understand the conceptual framework and assumptions of the models. Understand how the models are used in the business decision-making process, the material impact to our financial statement or risk measurement. Collect data and assumptions that are used in the models, including model output, in preparation for the model validation.
Conduct robust and comprehensive model validation testing and analysis according to the client's Model Validation Policy and Guidelines.
Assess model risks and limitations and make recommendations on model use and remediation of model deficits. Write reports detailing conclusions of the model validation and present findings and recommendations to senior leaders.
Be responsible for undertaking projects with minimal guidance and have ability to see projects to conclusion. Guide and mentor more junior analyst who may assist with the work.
Participate in other model validation activities, such as the discussion of Model Validation Policy and Guidelines and the improvement of model validation practices.
Qualifications:
Excellent knowledge of statistics, mathematics and financial modeling
Strong technical skills and problem solving ability. Proficient in SAS and Excel
Candidates must have experience with development of testing methodologies and creation of working papers
Excellent communication skills
Demonstrated project management skills and the ability to work on multiple projects on a concurrent basis and be able to meet deadlines
education and business
Experience:
Graduate Degree in Mathematics, Statistical Modeling, Computational Finance, Economics or related field. Ph.D. is preferred although a Master's degree may suffice for candidates with sound experience.
5-7 years model development and/or validation experience.
Personal Skills:
Ability to work in a team environment and to collaborate with other internal staff and external consulting firms to coordinate model validationsEstimated Salary: $20 to $28 per hour based on qualifications.
RM Staffing Associates
Our client, a financial service corporation is looking to hire mid level and senior level model validation analysts. The Model Validation Group performs model validation activities for the organization. As a member of Model Validation Group (MVG), the incumbent will participate in all aspects of model validation activities. The MVG is a centralized organization responsible for evaluating model risk for all parts of the enterprise. Incumbents of this position will perform validations of the client's high impact models in compliance with OCC 2011-12 and the client's Model Validation Policy and Guidelines. Incumbents will document and present the model validation results to the Model Validation Committee.
This is a highly visible role in which the incumbent will interact extensively with model developers and senior managers throughout the bank and present findings and recommendations to senior leaders.
This position provides a unique opportunity to learn about and evaluate all types of banking models including market risk, credit risk, and operational risk models. Specific model types include Var Models, simulation models, pricing and asset valuation models, capital models, loss forecasting models, credit scoring models, trading models, and asset and liability management models, among others. These models are applied to a wide variety of assets and liabilities including retail deposits, commercial loans, equity holdings, commercial real estate loans, securitized products, mortgages, mortgage servicing rights, home equity, auto, and student loans, as well as credit card receivables.
Primary
Responsibilities:
Understand the conceptual framework and assumptions of the models. Understand how the models are used in the business decision-making process, the material impact to our financial statement or risk measurement. Collect data and assumptions that are used in the models, including model output, in preparation for the model validation.
Conduct robust and comprehensive model validation testing and analysis according to the client's Model Validation Policy and Guidelines.
Assess model risks and limitations and make recommendations on model use and remediation of model deficits. Write reports detailing conclusions of the model validation and present findings and recommendations to senior leaders.
Be responsible for undertaking projects with minimal guidance and have ability to see projects to conclusion. Guide and mentor more junior analyst who may assist with the work.
Participate in other model validation activities, such as the discussion of Model Validation Policy and Guidelines and the improvement of model validation practices.
Qualifications:
Excellent knowledge of statistics, mathematics and financial modeling
Strong technical skills and problem solving ability. Proficient in SAS and Excel
Candidates must have experience with development of testing methodologies and creation of working papers
Excellent communication skills
Demonstrated project management skills and the ability to work on multiple projects on a concurrent basis and be able to meet deadlines
education and business
Experience:
Graduate Degree in Mathematics, Statistical Modeling, Computational Finance, Economics or related field. Ph.D. is preferred although a Master's degree may suffice for candidates with sound experience.
5-7 years model development and/or validation experience.
Personal Skills:
Ability to work in a team environment and to collaborate with other internal staff and external consulting firms to coordinate model validationsEstimated Salary: $20 to $28 per hour based on qualifications.
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