Sr. Model Validator, CCAR
4 weeks ago
This position is within First Citizens Bank’s Model Risk Management (MRM) team, with a primary focus on conducting validations for the bank's CCAR stress testing and capital planning models. Our team encompasses a diverse range of models, including Credit Risk models (PD, LGD, EAD, and loss forecasting), PPNR and ALM models (loan balance, deposit balance, net interest income, non-interest income, and non-interest expense), Moody’s Economics models, and operational loss models.
The analyst will collaborate with validation manager to conduct independent model validations for one or more specific areas based on their background and expertise. The primary objective is to verify that models are performing as expected and aligning with their design objectives and business use cases while identifying potential limitations and assumptions and assessing their potential impact.
This role provides an excellent opportunity for the analyst to rotate within the team, gaining a comprehensive and holistic understanding of the CCAR stress testing and capital planning framework.
*This position can work remote from anywhere within the United States.
Responsibilities:
Comprehensive Model Validation: Conduct thorough and comprehensive validations of various model components, ensuring that they are accurate, reliable, and aligned with the intended business objectives and regulatory requirements. This includes but is not limited to:
Risk Identification and Mitigation: Provide effective challenges and identify potential model risks. Recommend appropriate mitigation measures and enhancements to improve model quality and compliance with regulatory standards.
Documentation and Reporting: Produce high-quality, comprehensive validation reports that clearly communicate findings, recommendations, and potential risks to both technical and non-technical stakeholders. Ensure that validation documentation adheres to internal standards.
Audit and Regulatory Review Support: Assist model validation manager in gathering and providing materials requested by internal audit and regulators, drafting responses to questions, and defending validations in exams.
Continuous Learning and Improvement: Stay up-to-date with emerging trends and best practices in model validation and regulatory requirements. Contribute to the enhancement of the model validation framework by suggesting process improvements and implementing industry-leading methodologies.
Qualifications:
Qualifications
Bachelor's Degree and 2 years of experience in Risk Analytics or Analytics
OR
High School Diploma or GED and 6 years of experience in Risk Analytics or Analytics
Preferred Qualifications:
Advanced degree (Master's or Ph.D.) in a quantitative field (e.g., Mathematics, Statistics, Finance, Economics, Physics, Engineering, or a related discipline).
5+ years of experience in model development, model validation, or model implementation within the financial industry; Proficiency in statistical methods (e.g., linear regression, logistic regression, survival analysis, ARIMA) and programming languages (e.g., SAS, Python, R, SQL)
Strong understanding of regulatory requirements, particularly those related to stress testing and capital planning: SR 11-7/ FIL-22-2017, SR 15-19, CCAR.
Excellent problem-solving skills, attention to detail, mentor and coach junior analysts
Excellent written and verbal communication skills.
The base pay for this position is relative to your experience but the range is generally $98,000 to $160,000 per year. This position is eligible for variable compensation, which may be in the form of incentive, bonus, or commission pay. First Citizens offers a competitive, comprehensive benefits program which you can review here: .
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