Model Governance Analyst
2 weeks ago
Old National Bank has a rich history of serving clients and communities since 1834. With a robust asset base of $48 billion, we are a significant regional institution dedicated to supporting our clients in achieving their aspirations while emphasizing social responsibility through community engagement and charitable initiatives.
Our employees are our most valuable resource, and we prioritize their professional growth and development. We provide various Impact Network Groups, led by passionate team members, aimed at enhancing engagement, fostering awareness of diverse backgrounds, and promoting inclusivity throughout the organization.
Old National Bank is looking for a Model Risk Analyst to join our team. This role involves comprehensive oversight of model risk across the enterprise, focusing on model governance, validation, and performance monitoring. The Model Risk Analyst will be responsible for validating and approving models utilized in various sectors of the organization, managing model risk ratings, maintaining model inventories, and ensuring compliance with regulatory standards. This position will also involve interaction with external regulators and internal auditors to affirm the integrity and effectiveness of the model validation process. The analyst will collaborate closely with executives and senior management across all business lines on validation projects and ongoing monitoring processes, providing recommendations for continuous improvement of models across the organization.
Key Responsibilities
- Support the Model Validation Program by conducting independent validations of corporate risk models, including credit risk, forecasting, compliance, and operational risk models.
- Challenge the conceptual soundness and assumptions of models, ensuring the appropriateness of methodologies used.
- Verify data integrity related to model development.
- Replicate model estimates and conduct thorough testing, including back-testing and sensitivity analysis.
- Review model implementation and confirm user acceptance testing.
- Prepare detailed independent validation documentation.
- Coordinate validation projects among various stakeholders and participate in peer review processes.
- Contribute to the enhancement of model validation procedures and methodologies.
- Engage in model monitoring and maintenance reviews.
- Continuously improve business acumen by staying informed on regulatory guidance and industry trends.
- Develop strong relationships with key business partners.
- Conduct independent validations and provide effective challenges for models across all business lines.
- Maintain and adhere to model validation standards and procedures, interpreting test results and establishing action plans with model developers.
- Identify emerging model risk issues and communicate them to relevant stakeholders.
- Create and maintain analytical reports and presentations for senior management and regulatory examinations.
- Collaborate with data warehouse and model development teams.
- Identify and manage the inventory of critical non-model tools, developing a risk-based oversight program.
Leadership in Culture:
- Communication: Effectively conveys information and ideas, demonstrating self-awareness and adapting delivery to the audience.
- Collaboration: Actively seeks and nurtures trusted relationships to achieve organizational goals.
- Drive and Execution: Committed to achieving goals, overcoming challenges, and continuously improving performance.
- Problem Solving/Decision Making: Identifies root causes of issues and incorporates diverse input to ensure sound decisions.
- Technical Knowledge: Possesses the necessary technical expertise to perform effectively, engaging in continuous learning.
- Master's or PhD in Business, Economics, Engineering, Statistics, Mathematics, or a related field, with a minimum of 2 years of experience in the financial sector or a related field.
- Knowledge of statistical and econometric theories, including logistic regression and time series modeling.
- Experience with model development and implementation processes.
- Proficiency in SAS statistical software and SQL.
- Strong project management and communication skills.
- Able to navigate ambiguity and adapt to change.
- Capable of working independently and collaboratively within cross-functional teams.
- Demonstrated leadership in a dynamic work environment.
- Exceptional analytical, problem-solving, and communication skills.
- Strong interpersonal skills, with a focus on customer and team orientation.
Our core values are the foundation of our culture: optimism, collaboration, inclusivity, agility, and ethics.
Join Old National Bank and be part of our team.
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