Model Risk Analyst

Position Overview

Aid in the development, implementation, and maintenance of the Model Risk Management (MRM) program within SECU through the creation and validation of statistical, qualitative, and other quantitative models.

Essential Responsibilities

• (40%) Execute model validation activities throughout the model lifecycle, including model validations, ongoing performance evaluations, and tracking model findings to ensure models are conceptually sound and performing appropriately.
• (30%) Validate the performance and controls of statistical models using provided model development documentation and communicate findings to management and model owners.
• (10%) Contribute to enhancements to the model risk management framework, including maintaining the model inventory and model risk rankings.
• (10%) Foster effective partnerships within SECU, particularly with model owners, model developers, and data analysts.
• (10%) Support the implementation and adherence to the MRM Policy and associated model risk SOPs across SECU.

Required Education & Experience

• Bachelor's degree in a quantitative discipline (e.g., Economics, statistics, finance, data science, math, physics, or related fields)
• 3+ years of experience in modeling or analytics
• Ability to assess model conceptual design, backtest model results, validate assumptions, control data flows, execute models, and ensure compliance with intended applications by model users
• Advanced programming skills in a statistical programming language (e.g., SAS, R, Python)
• Strong academic and/or professional understanding of advanced mathematical and statistical modeling techniques, including logistic regression, time series analysis, linear regression, Monte Carlo simulation, AI/ML techniques, etc.
• Ability to contribute to multiple projects simultaneously under guidance from supervisor
• Demonstrated ability to write accurate and efficient computer code to perform complex analysis and review code written by others
• Strong oral and written communication skills
• Experience contributing to detailed technical validation reports and/or model development documentation
• Strong attention to detail and the ability to understand and analyze complex modeling and analytical challenges with some guidance from supervisor and senior staff
• Ability to work independently with some day-to-day oversight from supervisor

Preferred Education & Experience

• Master's degree in quantitative discipline
• Experience in financial services or consulting industry
• Experience developing or validating models used for CECL, Credit Risk, CCAR/Stress Testing, PPNR, ALM, loan pricing, mortgage servicing rights, derivatives, Compliance (BSA/AML/OFAC), Liquidity, or Fraud
• Subject matter expertise in generative large language models (Artificial Intelligence)