Model Risk Mgmt Validation Analyst

3 weeks ago


Hicksville NY, United States Flagstar Bank Full time

A Model Risk Management Validation Analyst supports the implementation and execution of the Bank-wide model risk management policy. This includes the review of complex models used within the organization, model development documentations, model code, and model performance. The Model Risk Management Validation Analyst prepares written validation reports, makes recommendations, and follows up and tracks ongoing model risk issues.

Performs independent validation of selected models to assess the conceptual soundness of model design and development, ongoing monitoring, and outcomes analysis.
Develops and maintains effective partnerships with analysts, model owners, business level risk management teams and auditors, internal and external.
Prepares written model validation reports and provides recommendations for the design, development, back testing, implementation and recalibration of models owned by the model development team.
Assists in the development and maintenance of comprehensive reporting on the deficiencies identified, remediation status, and other critical data elements with respect to remediation.
Performs special projects, and additional duties and responsibilities as required.
Where applicable and when performing the responsibilities of the job, employees are accountable to maintain Sarbanes-Oxley compliance and adhere to internal control policies and procedures.

Bachelor's degree in Economics, Finance, Mathematics, Computational Finance or related field required.
One to two years of experience validating financial services related models.
Knowledge of banking and credit risk including key risk drivers.
Knowledge of basic risk management concepts and principles, valuation of basic instruments and basic accounting principles.
Knowledge of financial markets, interest rates and potential impact of current economic activity. Excellent knowledge of statistics, mathematics and financial risk modeling.
Proficiency in SAS, Excel, Matlab, R and/or VBA Strong problem solving and research abilities. Good project coordination and organizational skills.
Ability to work with all levels of management and staff across all lines of business in the Bank.



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