Model Validation Specialist

About the role

The Model Validation Associate plays an integral role in the implementation of the Model Risk Management framework for NYB and its subsidiaries. The role involves performing independent validation of credit risk and capital stress testing models, with the objective of strengthening model risk governance and enhancing overall model quality.

Responsibilities

• Conducts model validation across SMBC businesses and group companies for their intended use and scope, commensurate with the complexity and materiality of the models.
• Develops model validation methodology to assess models to confirm the conceptual soundness of model theory, quality of model implementation, and robustness of model ongoing monitoring.
• Identifies model deficiencies through validations, communicates the issues with model owners and senior management, and provides feasible and adequate recommendations.
• Supports the development and review of model-related policies and procedures, conducts audits of adherence to established frameworks, and designs and executes back-testing methodologies to evaluate model performance and ensure results are reasonable, robust, and reliable.
• Develops and maintains documentation templates, testing packages and automation tools/scripts to standardize validation processes.
• Supports audits and examinations for credit risk and stress testing models.
• Communicates findings from validation work to management and stakeholders, including recommendations as appropriate.
• Ensures business continuity under all conditions, sometimes adverse, with strict adherence to established guidelines and deadlines.

Qualifications and Skills

• Minimum master's or equivalent degree in Statistics, Mathematics, Engineering, Computer Science or related fields
• PREFERRED: Experience in model validation and model development; and working with large and complex data sets.
• Knowledge in loss reserve, CECL, capital and stress testing models
• Knowledge of SR11-7, CECL, CCAR, and other regulatory requirements.
• Strong analytical skills, both quantitative and qualitative.
• Strong written and verbal communication skills, with the ability to present complex information clearly and concisely.
• Ability to build and maintain effective working relationships with stakeholders at all levels. Demonstrated ability to work collaboratively in a team environment.
• RECOMMENDED YEARS OF EXPERIENCE: 0-5

Benefits

SMBC’s employees participate in a Hybrid workforce model that provides employees with an opportunity to work from home, as well as, from an SMBC office. SMBC requires that employees live within a reasonable commuting distance of their office location. Prospective candidates will learn more about their specific hybrid work schedule during their interview process. Hybrid work may not be permitted for certain roles, including, for example, certain FINRA-registered roles for which in-office attendance for the entire workweek is required.

Schedule

Not specified

Pay

Not specified