Full Job Description
Associate – Model Risk (Risk Management)
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
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.
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
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.
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