ERM Model Risk Senior Analyst - Remote

Overview

The ERM Model Risk Senior Analyst is responsible for planning and executing model governance and model validations in alignment with the Bank’s Model Risk Management (MRM) governance framework. This role partners with model owners, other MRM analysts, and upper management to ensure model documentation and risk management processes are implemented appropriately to meet business needs and regulatory obligations, with governance processes followed and documented across the full model lifecycle (model development, use, calibration/validation, and decommissioning).

In addition, this position supports ERM management reporting, committee governance, and related risk oversight across the organization, helping execute the ERM framework by supporting systemic risk management and maintaining a regular, comprehensive view of risk profile, trends, and emerging risks.

Responsibilities

Model Risk Validations and Governance

• Ensure model owner compliance with MRM procedures and standards, especially during model implementation and development phases
• Document model policies, methodologies, and processes when appropriate
• Maintain and recommend enhancements to the Model Inventory tracking and Model Risk Assessment for each model
• Validate that appropriate documentation is completed for each model or non-model tool
• Lead internal and external model validations
• Conduct stress testing, back testing, replication testing, and effective challenge of models
• Challenge model implementation, model performance, and model validation processes to ensure adherence to MRM standards
• Provide recommendations for enhancements to MRM templates and procedures
• Prepare and present recommendations to the Bank’s Risk Review Council
• Assist in advancing the Bank’s Model Risk governance framework and MRM program
• Prepare items for internal audits and regulatory exams

Enterprise Risk Reporting and Governance

• Analyze risk information, metrics, trends, issues, and remediation activities to identify themes, emerging risks, and items requiring follow-up
• Develop, maintain, and enhance recurring management and committee reporting, including:
  • Risk profile updates
  • Key risk indicators (KRIs)
  • Emerging risk reporting
  • Trend analysis
  • Risk appetite metrics
  • Issue management reporting
• Develop and maintain reports, dashboards, presentations, metrics, and remediation tracking materials to communicate risk information to management and committees
• Support implementation and ongoing maintenance of the enterprise risk management framework, policies, governance processes, and reporting practices
• Support process improvement initiatives related to enterprise risk reporting, governance, and issue management activities
• Use enterprise-approved AI tools to streamline workflows, automate tasks, and drive continuous improvement
• Evaluate emerging trends to inform solution design and strategic innovation

Required Qualifications

• Bachelor’s degree
• 5+ years of experience working in a bank or other financial institution with duties focused on documenting policies, standards, and procedures related to implementing sound risk management practices, methods, tools, and processes
• 5+ years of experience with:
  • Microsoft Office PowerPoint (creating and executing presentations)
  • Excel (Pivot Tables, VLOOKUP, formulas, formatting, etc.)
• 2+ years of programming experience in high-level programming languages such as SQL, Python, or other related languages, with experience in data manipulation and analysis
• Experience with internal and external model validations, including stress testing, back-testing, and replication testing, with effective challenge of model implementation, model performance, assumptions, and validation results to ensure model accuracy, reliability, and regulatory compliance
• Experience developing and implementing quantitative models, CECL, Fraud, and/or Credit underwriting within a financial institution or relevant industry
• Ability to travel a few times a year for onsite meetings and other business-related needs

Preferred Qualifications

• Bachelor’s degree in Finance, MIS, Quantitative Finance, Mathematics, Statistics, Economics, or a related field with a focus on financial modeling
• Regulatory experience or experience assisting with regulatory examinations
• In-depth knowledge of statistical modeling techniques, econometrics, time-series analysis, and risk management principles
• Functional knowledge of meeting regulatory expectations and standards in all phases of the model development, use, and maintenance process

Compensation & Benefits

• Salary range: $72,800 - $130,000 annually based on full-time employment
• Pay is based on several factors including local labor markets, education, work experience, certifications, and more
• Comprehensive benefits package
• Incentive and recognition programs
• Equity stock purchase and 401k contribution (benefits are subject to eligibility requirements)
• Salary and benefits are subject to applicable laws and eligibility requirements

Location

• Remote work flexibility: work remotely from anywhere within the U.S.
• For hires in the Minneapolis or Washington, D.C. area: required to work in the office a minimum of four days per week.
• If qualified candidate lives in the Draper, UT / Salt Lake City, UT area: position will be hybrid, and the candidate will be required to come to the Draper, UT office 3 days a week.

Additional Information

• Employees working remotely are required to adhere to the Telecommuter Policy.
• Drug-free workplace: candidates are required to pass a drug test before beginning employment.
• Application is posted for a minimum of 2 business days or until a sufficient candidate pool has been collected (may come down early due to volume of applicants).