Associate – Model Risk (Risk Management)

Full Job Description

Associate – Model Risk (Risk Management)

Job Number:

3180612

POSTING DATE: Sep 23, 2021

PRIMARY LOCATION: Americas-United States of America-New York-New York

EDUCATION LEVEL: Master’s Degree

JOB: Model Risk

EMPLOYMENT TYPE: Full Time

JOB LEVEL: Associate

DESCRIPTION

Background on the Position

This role will reside within Firm Risk Management’s Model Risk Management team responsible for the Firm’s management of risks related to the implementation and use of models, covering all aspects of the Firm’s businesses and implementing key regulatory requirements. This position requires strong technical, communication, and organizational skills.

Primary Responsibilities

Perform independent review and model validation of Wealth Management Mortgage models, compliant with Model Risk Management policies and procedures, regulatory guidance, and industry leading practices

Work with a global team within Model Risk Management, meeting deliverable due dates, and escalating issues

Communicate model validation conclusions to managers and relevant stakeholders

Write high-quality validation documentation that satisfies the firms internal model approval functions, audit requirements, and regulatory standards

Represent Model Risk Management team in interactions with regulatory agencies as required

QUALIFICATIONS

Skills Required

Degree in a quantitative discipline (such as Financial Engineering, Computational Finance, Mathematical Finance, Math/Statistics, Computer Science, Physics or related fields)

Familiarity with essential quantitative techniques used in financial models.

Quantitative programming skills (e.g. Python, R, etc.)

Strong written and verbal communication skills.

Skills Desired

Prior experience with developing or validating mortgage models. Examples include loss forecasting models for mortgage portfolios, risk and pricing models for mortgage products.

Desire to work in a dynamic, team-oriented environment focusing on challenging tasks mixing fundamental, quantitative and market-oriented knowledge and skills.

Good understanding of numerical techniques and optimization methods

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