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Senior Model Validation Consultant

  • Permanent
  • Anywhere

Website Infinity Consulting Solutions

Infinity Consulting Solutions

Company : Infinity Consulting Solutions

Country: United States

Location : Miami, Florida

Post: Sun, 11 Sep 2022 05:22:05 GMT

Expires: Tue, 11 Oct 2022 23:59:59 GMT

Apply Job : Apply Online

—————————— Job Description ——————————

Senior Model Validation Analyst

Job Purpose:

Our client is a management consulting looking for a candidate to work a model validation. This role is responsible for managing the branch’s model risk process with the primary focus in AML models (BSA/AML/Sanctions and related regulatory compliance) in additional to Data Governance, Data Quality and Data management. This Model Validation role will execute the independent review and provide effective challenges to models that support the identification and assessment of Financial Crime at client and transaction levels, and facilitate model risk management validation scope and remediation actions. This role will work closely with cross functional teams, including business stakeholders, model developers in Compliance, model validators, IT, auditors and external parties.

Key Responsibilities:

* Produce clear and in-depth model validation reports.
* Lead the effort to validate models independently, including but not limited to Compliance models AML (TM, CRS, OFAC, Bridger Insight Customer Screening), Credit Risk Rating, THC AML model, ALLL, ALM, CCAR, PPNR, and CECL models.
* Evaluate conceptual soundness of model specifications, reasonableness of assumptions, reliability of data/inputs, and completeness of outcomes analysis, implementation testing, model performance metrics/thresholds, and model use testing.
* Assess and measure the potential impact of model limitations, parameter estimation error or deviations from model assumptions; compare model outputs with empirical evidence and/or outputs from model benchmarks.
* Detail documentation of testing, observations, potential issues, management action plans, and remediation progress.
* Evaluate model monitoring performance reports on an on-going basis and provide recommendations.
* Update model inventory model validation findings inventory, model risk ranking, and data governance framework.
* Prepare regular and ad-hoc reports for various committee meetings.
* Produce accurate and concise meeting minutes.
* Collaborates with management, model owners/users and third parties on matters pertaining to model risk management.
* Assist with preparing responses to Bank examiners and Internal/External Auditors.
* Help maintain model risk policies/procedures, risk and control self-assessment, process maps, and other ad hoc documents.
* Assist with various other governance activities and produce various model risk related documents as needed.
* Gain in-depth understanding of the latest industry research and standards on modeling, statistics, and regulations.

Knowledge & Experience Requirements:

* Required: 5+ years of experience with model validation or development
* Required: Experience in designing tests, model outcomes analysis, scenario analysis, sensitivity analysis, and back-testing
* Required: Knowledge of statistical/financial models in areas Anti-Money Laundering &/or of Credit/Market/Operational Risks
* Required: Knowledge of banking systems and products and risk management methodologies
* Required: Knowledge of model risk management and associated regulatory requirements such as SR11-7, SR12-7, SR16-12 etc.
* Preferred: Prior experience developing/validating 2 or more of the following models:

* Anti-Money Laundering models
* Quantitative Risk Management (QRM)
* Moody’s RiskCalc (or other Moody’s models such as ImpairmentStudio, GCorr, ECCL, CECL)
* CoStar Compass
* CCAR/DFAST/PPNR models

* Preferred: Proficient in SAS, R, Python, VBA, SQL programming and AML Transaction Monitoring systems such as Prime, Actimize and Mantas etc
* Preferred: Industry certifications such as FRM, PRM or CFA
* Preferred: Strong project management capabilities
* Preferred: Demonstrate decisiveness in resolving business problems, making decisions and identifying priorities.
* Preferred: Interpersonal skills to influence and spur change, enhance performance within a cross functional environment.
* Preferred: Experience working with large databases
* Bachelor’s Degree (Master preferred) in finance/business/economics, mathematics/statistics, engineering or related discipline

Capability Requirements:

* Ability to communicate risk and compliance subjects to multiple audiences, including technicians, business persons and management.
* Able to work independently or on multiple projects as a project participant.
* Familiarity with presentation software.
* Strong public speaking and written/verbal communication skills.
* Good research and analysis skills.
* Solid project management/work flow management

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