The Quantitative Validation Analyst role resides within the Bank’s Risk Management and Compliance organization. Specifically, this position supports the Model Risk Management program at the bank. The overall MRM program is designed to provide governance and control to manage financial models and associated risks that may impact the company, including financial, liquidity, market, operational, reputational, strategic, and other risks as appropriate. Quantitative Validation Analysts within MRM provide independent validation of models that the bank relies on for making financial decisions. A robust and comprehensive model validation comprises steps that independently challenge a model’s conceptual framework and methodology, reference data used in the model, implementation process, as well as model usage and performance. The validation process also identifies corrective actions to ensure timely remediation of model risk. More specifically, the incumbent is expected to work with Model Owners and Developers and independently validate models related to bank’s CCAR stress testing and capital planning. The validation should be in compliance with both OCC 2011-12 and USB's Model Risk Management Policy and Guidelines. The incumbent is also responsible for assessing model risks and limitations and provide recommendations and conclusions with respect to model validation. The incumbent is expected to document and present the model validation findings to model owners, developers.He/she will interface with key stakeholders, regulators (OCC/FED), and internal auditors to discuss the justification and reasoning behind various validation and review findings.
- Bachelor's degree in a quantitative field, and five to eight years of experience in statistical modeling OR
- Master's or PhD degree in a quantitative field, and less than five years of experience in statistical modeling