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Model Validation Analyst

1 month ago

Jersey City, New Jersey, United States Sumitomo Mitsui Financial Group, Inc. Full time

SMBC Group is a top-tier global financial group. Headquartered in Tokyo and with a 400-year history, SMBC Group offers a diverse range of financial services, including banking, leasing, securities, credit cards, and consumer finance. The Group has more than 130 offices and 80,000 employees worldwide in nearly 40 countries. Sumitomo Mitsui Financial Group, Inc. (SMFG) is the holding company of SMBC Group, which is one of the three largest banking groups in Japan. SMFG's shares trade on the Tokyo, Nagoya, and New York (NYSE: SMFG) stock exchanges.

In the Americas, SMBC Group has a presence in the US, Canada, Mexico, Brazil, Chile, Colombia, and Peru. Backed by the capital strength of SMBC Group and the value of its relationships in Asia, the Group offers a range of commercial and investment banking services to its corporate, institutional, and municipal clients. It connects a diverse client base to local markets and the organization's extensive global network. The Group's operating companies in the Americas include Sumitomo Mitsui Banking Corp. (SMBC), SMBC Nikko Securities America, Inc., SMBC Capital Markets, Inc., SMBC MANUBANK, JRI America, Inc., SMBC Leasing and Finance, Inc., Banco Sumitomo Mitsui Brasileiro S.A., and Sumitomo Mitsui Finance and Leasing Co., Ltd.

The anticipated salary range for this role is between $82,000.00 and $96,000.00. The specific salary offered to an applicant will be based on their individual qualifications, experiences, and an analysis of the current compensation paid in their geography and the market for similar roles at the time of hire. The role may also be eligible for an annual discretionary incentive award. In addition to cash compensation, SMBC offers a competitive portfolio of benefits to its employees.

Role Description

Reporting to the Manager, Model Validation Group, the Model Validation Analyst plays an active role in the implementation and enhancement of Model Risk Management framework for the NYB and subsidiaries by performing independent validation of Credit Risk, Liquidity Risk, and capital stress testing models with the goals of enhancing model risk governance and improving model quality.

Role Responsibilities

  1. Conducts model validation and model risk governance across SMBC businesses and group companies.
  2. Applies robust model validation methodology to assess the conceptual soundness of model theory, quality of model implementation, and model ongoing monitoring.
  3. Develops and applies model quality assessment and approval criteria to ensure the integrity of model implementation, inputs, outputs, monitoring and reporting.
  4. Develops and maintains documentation, work papers and professional reports of validation results.
  5. Communicates findings from validate work to management and stakeholders, including recommendations as appropriate.
  6. Summarize and present model validation results to model risk management committee.
  7. Ensures business continuity under all conditions, sometimes adverse, with strict adherence to established guidelines and deadlines.
Qualifications and Skills
  1. In-depth knowledge in credit grading, PD/LGD/EAD, loss reserve, CECL, capital and stress testing models
  2. Hands on experience in model validation and model development; and working with large and complex data sets.
  3. Strong knowledge of SR11-7, capital, stress testing, and other regulatory requirements.
  4. Strong analytical skills, both quantitative and qualitative.
  5. Effective interpersonal skills, strong communication, especially written.
  6. Work Experience: 0 to 1 years of specialized experience in Quantitative Financial Services
  7. Education: Required: MS or PhD (or equivalent experience). Preferred: Degree in Quantitative Math, Finance or Physics a plus
SMBC's employees participate in a Hybrid workforce model that provides employees with an opportunity to work from home, as well as, from an SMBC office. SMBC requires that employees live within a reasonable commuting distance of their office location. Prospective candidates will learn more about their specific hybrid work schedule during their interview process. Hybrid work may not be permitted for certain roles, including, for example, certain FINRA-registered roles for which in-office attendance for the entire workweek is required.

SMBC provides reasonable accommodations during candidacy for applicants with disabilities consistent with applicable federal, state, and local law. If you need a reasonable accommodation during the application process, please let us know at accommodations@smbcgroup.com.