Master's degree in a quantitative field such as Mathematical Finance, Statistics, or Economics
2+ years of experience in model validation or development in finance
Mastery of statistics and numerical techniques
Proficiency in SQL, SAS, R, or Python
Advanced Microsoft Excel knowledge
Excellent written and verbal communication skills
Responsibilities
Perform independent model validations based on criticality ratings
Challenge and validate models' theoretical soundness and weaknesses
Interpret data to identify potential risks and enhance strategic decisions
Develop challenger models for outcome analysis and validation
Ensure compliance with model risk monitoring frameworks
Evaluate governance practices in Model Risk Management
Guide and mentor junior analysts
Benefits
Medical, dental, vision, and life insurance
401(k) matching
Generous holiday and paid time off
Tuition reimbursement
Health and wellness programs, including Employee Assistance Program
Referral bonus program
Full Job Description
Job Description
Who you are:
As a Model Validation Analyst II with Frost, you are our monitor. In this role, you monitor and validate aggregate model risk in alignment with Frost's risk strategy. You will provide recommendations on how to adjust model risk. By turning data into insights, you will help us discover the accuracy of the most complex and significant financial, statistical, and behavioral models that are used within the organization. More than that, this role is about constant improvement and doing so with our signature all-win approach in mind.
What you'll do:
Perform independent validations of financial, statistical, and behavioral models commensurate with their criticality ratings. Focus on the most complex and significant models used within the organization. Ensure a thorough review by challenging key aspects of each model
Validate and review models regarding their theoretical soundness, testing design, and points of weakness
Interpret data to recognize any potential risk exposure; additionally, identify opportunities to use data in ways that enhance the strategic and tactical decisions made by management.
Develop challenger models that help validate existing models and assist with outcome analysis
Ensure compliance with the model risk monitoring framework
Evaluate governance for Model Risk Management by reviewing policies, controls, risk assessments, documentation standards, and validation standards that are required to manage modeling processes throughout the organization
Evaluate the Bank's compliance with SR 11-7 regulatory guidance
Provide guidance and direction to less experienced analysts
Always take action using Integrity, Caring, and Excellence to achieve all-win outcomes
What you'll need:
Master's degree in a quantitative field such as Mathematical Finance, Financial Engineering, Statistics, Physics, Management Science, Operations Research, or Economics
2+ years of experience in the development or validation of financial, statistical, or mathematical models, preferably within the financial services industry
Mastery of statistics and numerical techniques
Demonstrated experience with documenting technical aspects of a model as well as presenting results/findings
Proficient in either SQL, SAS, R, or Python
Advanced knowledge of Microsoft Excel
Proficient in Microsoft computer applications
Excellent written and verbal communication skills
Additional Preferred Skills:
Ph.D. degree in a quantitative field such as Mathematical Finance, Financial Engineering, Statistics, Physics, Management Science, Operations Research, or Economics
Our Benefits:
At Frost, we care about your health, your family, and your future and strive to have our benefits reflect that. This includes:
Medical, dental, vision, long-term disability, and life insurance
401(k) matching
Generous holiday and paid time off schedule
Tuition reimbursement
Extensive health and wellness programs, including our Employee Assistance Program
Referral bonus program + more!
About Frost Bank
Frost Bank is a subsidiary of Cullen/Frost Bankers, Inc., a financial holding company, headquartered in San Antonio, Texas. The company provides a wide range of banking, investments, and insurance services to businesses and individuals in Texas. Frost Bank has over 130 branches across Texas and offers online banking services to its customers. The bank was founded in 1868 by Thomas Claiborne Frost and has been serving Texans for over 150 years.
