Sr Analyst, Risk Model Validation - CIB

Country: United States of America

The Sr. Analyst, Model Risk will be responsible for performing independent validation of models and expert judgement models used by the bank in conformance with regulatory guidance on model risk SR11-07. This individual’s responsibility includes performing model validations, from input data, model methodology, model outcome, usage and related controls and governance around model risk. This role involves internal communication with business and model development and external with vendors and third-party servicers. Furthermore, this individual is expected to take the day-to-day model risk governance responsibilities such as ongoing performance monitoring, orderly remediation of findings, and model annual reviews.

• Evaluates model assumptions and weaknesses, prepares reports describing the results of the validation analyses and list the recommendations for addressing any issues identified.

• Conducts robust validations of a wide variety of models against established standards, developing benchmark, challenger, and replication models where applicable.

• Advises senior personnel in their communications with risk committees, auditors, regulators, and senior management regarding model risk and its potential effects on the risk profile of the bank.

• Manages the resolution of findings with model owners and developers.

• Reviews ongoing model performance, assesses overall model health within a given framework, identifies potential problems and works with stakeholders to resolve issues identified.

• Partners with model owners and developers to understand the business context for model use, producing technical guidance and adding value to the business process.

• Develops and executes initiatives such as researching new trends in modeling and approaches to the management of associated model risk.

Qualifications

• Bachelor's Degree in Statistics, Mathematics, Economics or equivalent quantitative discipline or equivalent work experience. An advanced degree, masters/PhD in a quantitative discipline such as Financial Engineering, Mathematics, Physics, Quantitative Finance, Economics, Statistics, or other relevant field of study preferred.

• 3+  years of experience in Model Development and/or Validation, Model Risk Management function at a large bank

• Detailed familiarity with advanced quantitative analysis and applied statistical techniques in relevant asset/liability categories, including regression, time series forecasting, econometric modelling, PCA analysis, data mining, survival analysis, sensitivity, back-testing, model performance measurement

• Familiarity with QRM, ADCo and Intex or similar systems highly preferred

• Sound knowledge of financial numerical methods/PDEs, stochastic calculus, and option pricing

• Programming capabilities: Hands on programming skills required in common programming languages and packages like R, Python, Matlab, and SAS etc.

• Ability to apply mathematical and statistical skill in a highly practical way to solve problems

• Solid communication skill is required. Ability to work with senior management and other stakeholders

• Outstanding time and stress management skills, team-work spirit. As a responsible level the team member should be a self-starter and need minimal direction from managers in pursuing projects.

At Santander, we value and respect differences in our workforce and strive to increase the diversity of our teams. We actively encourage everyone to apply.

Santander is an equal opportunity employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, genetics, disability, age, veteran status or any other characteristic protected by law.

This job description does not list all of the job duties of the job. You may be asked by your supervisors or managers to perform other duties. You may be evaluated in part based upon your performance of the tasks listed in this job description. The employer has the right to revise this job description at any time. This job description is not a contract for employment and either you or the employer may terminate at any time for any reason.

$65,625.00 USD$137,500.00 USD