Model Risk Analyst

About the Role

The Model Risk Analyst within the Model Risk Management Group (MRM) supports model validation and risk governance through both technical tasks (e.g., data analytics and quantitative modeling) and administrative responsibilities (e.g., documentation). This role enhances technical skills and understanding of financial models used within the bank.

Responsibilities

• Explain and present testing results to MRM, model owners, and other stakeholders.
• Collaborate with risk analysts within MRM and perform ad-hoc analysis to support model-related initiatives.
• Review model data sources, assumptions, and underlying theory for conceptual soundness.
• Perform sensitivity analysis and attribution analysis to identify key financial risk factors/inputs impacting the model.
• Challenge current methods by proposing modeling enhancements or alternative metrics to assess model effectiveness.
• Conduct independent benchmarking, back-testing, and other analyses for applicable models.
• Recommend automation or improvements to the modeling process.
• Identify potential model weaknesses and provide constructive recommendations to model owners.
• Drive innovation in credit and financial models by proposing enhancements to improve effectiveness.

Requirements

• Graduate degree (MS/MA/MBA) in a quantitative discipline (e.g., Mathematics, Statistics, Financial Mathematics, Econometrics).
• 0-3 years of modeling or model validation experience.
• Passion for risk management and interest in model validation.
• Detail-oriented, critical thinker with excellent communication skills.
• Proficiency in Microsoft Office suite (Excel, Word, Access, PowerPoint).

Skills

• Knowledge of statistics (e.g., logistic regression) and basic data analysis.
• Proficiency in SQL, R, or Python.
• Basic understanding of fixed income securities or mortgage products (CFA/FRM certifications a plus).
• Knowledge of stochastic processes or interest-rate modeling techniques preferred.
• Experience with machine learning techniques (regression and classification algorithms) preferred.
• Familiarity with Tableau and level of detail (LOD) preferred.

Pay

$75,000 - $125,000 (based on experience) plus benefits.