Model Validation Analyst

  • Anywhere

Company :
Umpqua Bank

Location :
Portland, Oregon

Expiry Date :
Fri, 06 Nov 2020 23:59:59 GMT

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Description :
The Model Risk Analyst will conduct independent model validation studies to manage and mitigate the risks that arise from the use of models that have fundamental errors and from the inappropriate use of model results. Analysis will include assessments of each models conceptual soundness, statistical analysis of empiric al model performance, the development of challenger models for benchmarking comparisons, and composition of robust validation reports. Will identify items posing significant model risks to the bank, propose plans to address those risks, and present recommendations for continued model use or rejection to Senior Management and the Model Risk Committee. Reviews to includes financial models used to drive business decisions including but not limited to: financial planning, fraud detection, credit risk management, anti-money laundering, asset and liability management, Current Expected Credit Loss (CECL) and Stress Testing
– Perform reviews of existing model documentation. Interview model developers and model owners to understand the business context for model use and to facilitate the adoption of model risk management standards.
– Design specific validation plans to provide effective challenge to models, including
assessments of overall design, underlying theoretical approaches, data quality and controls, model specification and estimation, development testing, implementation, use, and approvals.
– Analyze empiric al model performance using statistical techniques such as back- testing, scenario analysis, stress-testing, stability and sensitivity testing, and
benchmarking against self-developed challenger models. Review computer code and input data to assess quality.
– Prepare robust reports documenting the findings of validation review and analysis. Present results and recommendations for changes, continued use or rejection of models to model developers, model owners, executive sponsors, and the Model Risk Committee.
– Assist model developers, model users, and model owners in the completion of model documentation and the design of scorecards to track the on-going performance of models under their responsibility.
– Maintain the Enterprises model inventory and model documentation library.
– Identify emerging model risk issues impacting the Bank, changes in industry best practice related to model development and validation, and communicate to model developers, senior management and the Model Risk Committee.
– Facilitate improved understanding of model risk by conducting individual educational presentations or roadshow sessions as assigned by the Model Risk Manager.
– Demonstrates compliance with all bank regulations for assigned job function and applies to designated job responsibilities knowledge may be gained through
coursework and on-the-job training. Keeps up to date on regulation changes.
– Follows all Bank policies and procedures, compliance regulations, and completes all required annual or job- specific training.
– Maintain a working knowledge of Bank’s written policies and procedures regarding Bank Secrecy Act, Regulation CC, Regulation E, Bank Security and other regulations as applicable to this job description.
– May be asked to coach, mentor, or train others and teach coursework as subject matter expert.
– Actively learns, demonstrates, and fosters the Umpqua corporate culture in all actions and words.
– Takes personal initiative and is a positive example for others to emulate.
– Embraces our vision to become "The World’s Greatest Bank."
– May perform other duties as assigned


Masters degree in economic s, mathematics, statistics, operations research, financial engineering, quantitative finance, actuarial sciences, artificial intelligence and machine learning or other applied quantitative science. Doctoral degree preferred.

Certification as Financial Risk Manager (FRM), Professional Risk Manager (PRMIA), Chartered Financial Analyst (CFA), or Certificate in Quantitative Finance (CQF) preferred.

3-5 years in banking or financial services as a Data Scientist, Statistician, Quantitative Risk Analyst, Model Developer, Model Validator, or similar. (Advanced Degree may be considered in lieu of experience.

Knowledge of regulatory requirements related to model risk management (FRB/OCC SR 11-7), Basel II/III capital requirements, Current Expected Credit Loss (CECL) accounting standard and Dodd-Frank Act Stress Testing (DFAST).

Advanced understanding of statistical modeling, econometric forecasting, machine learning, data extraction and processing techniques; and demonstrated ability to apply such methods.

Experience with analytics software (SAS, R, SPSS, Matlab, Python, Excel VBA, SQL),

relational databases and/or Big Data technologies.
Possess communication skills, both oral and written, with ability to translate complex statistical or economic theories and analysis into practical implications for business teams and Senior Management.

Demonstrate strong organizational skills, with the ability to manage multiple

concurrent projects.
Ability to proactively learn newly emerging statistical, econometric, and mathematic al modeling techniques, and understand the implications of their use in a banking organization.

Physical Requirements and Working Conditions
Work involves:
Office environment — no specific or unusual physical or environmental demands.

Travel not required for this position.

No relocation is offered.
About Us
We do things a little differently here at Umpqua. Our retail stores serve as community hubs, our associates are given up to 40 hours of volunteer time each year, and we’re never satisfied with the status quo. It’s no wonder we’ve made "Fortune’s 100 Best Companies to Work For" eight years in a row. But greatness has no finish line, so we continue every day to keep people at the center of everything we do. We focus on building relationships, understanding our customers’ needs and connecting to people in new and innovative ways — always staying true to our mission of providing personalized banking for all people, whenever and however they prefer to bank.
Umpqua Bank is committed to employing a diverse workforce. Qualified applicants will receive consideration without regard to race, color, religion, sex, national origin, age, sexual orientation, gender identity, gender expression, protected veteran status, or disability. We maintain a drug-free workplace and may perform pre-employment substance abuse testing.