Principal Risk Management Analyst

2 weeks ago

Cincinnati, Ohio, United States Federal Home Loan Bank Full time
Position Overview:
The Senior Model Risk Analyst is responsible for overseeing and mitigating risks associated with financial models within the organization. This role involves conducting thorough validations, ensuring compliance with governance standards, and providing expert guidance on model usage.

Key Responsibilities:
1. Conduct independent validations and governance assessments for financial models.
2. Lead comprehensive evaluations of model accuracy, reliability, and robustness.
3. Review model assumptions, methodologies, and implementations to ensure soundness.
4. Identify and address limitations or weaknesses in models, suggesting improvements or alternative methodologies.
5. Contribute to the development and refinement of the organization's model risk management framework, policies, and procedures.
6. Support the management of model risk processes, including inventory and ongoing monitoring.
7. Collaborate with stakeholders to ensure adherence to regulatory model risk requirements.
8. Assess risks related to financial models, including potential errors and biases.
9. Prepare detailed validation reports documenting processes, findings, and recommendations.
10. Provide mentorship and guidance to junior team members in model risk management.
11. Advise staff on best practices for evaluating and deploying models.
12. Stay updated on industry trends and advancements in model risk management.
13. Identify opportunities for process optimization and efficiency within the model risk function.

Qualifications:
- Master’s Degree in finance, economics, mathematics, statistics, or a related field, or equivalent experience.
- A Ph.D. in a relevant discipline is preferred.
- Minimum of five years of experience in model validation or development within a financial institution or consultancy.
- Strong understanding of financial models, including credit, market, and liquidity risk models.
- Familiarity with regulatory guidelines and industry standards for model risk management.
- Proficiency in programming languages such as Python, R, or MATLAB, with skills in data analysis and model development.
- Advanced skills in Microsoft Office, particularly Excel and Word.
- Excellent analytical and problem-solving abilities, with a focus on critical evaluation of complex models.
- Strong communication skills, capable of conveying technical concepts to diverse audiences.
- Detail-oriented with exceptional organizational skills, able to manage multiple projects effectively.
- Ability to work collaboratively and build strong relationships with stakeholders.
- Commitment to fostering an inclusive and respectful work environment.

Work Environment:
Flexibility to work outside of standard hours may be required to meet project deadlines. Attention to detail is crucial to ensure the accuracy of information provided to senior management.

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