Mindlance | Model Risk Analyst
3 weeks ago
Job Title: Financial Risk Modeling Analyst - Wholesale Credit Stress Testing
Location: New York, NY (Hybrid)
Duration: 6+ Months (Possible Extension/Conversion)
Responsibilities:
- Execute periodic stress testing exercises to monitor WCR’s risk appetite and identify vulnerable areas.
- Provide analytics support to explain the stress test outcome for wholesale lending products.
- Partner with business units and risk managers to assess data availability and fit for purpose modeling approaches.
- Interact with model developers, model risk governance, business risk, internal audit.
- Leverage business / product expertise to evaluate and challenge the stress loss assumptions in hypothetical and historical stress scenarios.
- Gather and analyze portfolio and macro-economic data to assess potential impact on business performance and integrate the trends to the portfolio loss forecast.
- Research on 3rd party data, loss history and alternative models to build inventory of benchmarks.
- Develop deep expertise in stress testing methodologies and validate fit for purpose usage in BAU stress testing management.
- Contribute and refine current model performance monitoring process to interpret model output and identify opportunities for future improvements.
- Create a new scenario design capability leveraging existing models & data to translate emerging risk to economic scenarios, model inputs or portfolio shocks.
- Perform quarterly gap assessment between scenario coverage and material risk inventory.
- Build tools & analytical capabilities to support outcome analysis, loss forecasting reports and what if analysis.
- Works with large datasets and complex algorithms to derive analytical insights, identify data quality issues and support trend analysis.
- Leverages big data to develop innovative deployable solutions.
Qualifications:
- 5+ years’ experience working in financial institutions.
- Sound knowledge of statistical modeling concepts and industry best practices; experience with econometric and statistical modeling or application risk scoring.
- Excellent quantitative and analytic skills; ability to derive patterns, trends and insights, and perform risk/reward trade-off analysis.
- Experience with analytical or data manipulation tools (e.g. Tableau, Python, R)
- Proficient with MS Office suite.
- Past experience working on stress testing, model analytics, benchmarking and review & challenge function.
- Knowledge on scenario design, sensitivity shocks and risk identification process
- Good interpretations skills to convey complex quantitative methodology in simple terms.
Education:
- Bachelor’s/University degree or equivalent experience, potentially master’s degree
EEO
“Mindlance is an Equal Opportunity Employer and does not discriminate in employment on the basis of – Minority/Gender/Disability/Religion/LGBTQI/Age/Veterans.”
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