Quantitative Model Development Officer I

Overview

This is a regular, 1st shift position in the United States. The role leads model development efforts focused on finance and risk measurement estimation methodologies. Responsibilities cover parts of the full model development life cycle for quantitative models used to manage and mitigate risk. The position ensures risks associated with assigned models are properly identified and managed, and it partners across the organization (including Risk Functions and business lines) to evaluate and continually improve assigned models.

Model development areas may include: market, commercial, retail, credit, financial crimes, CCAR, CECL, finance, and compliance risk. The role may also lead periodic model review and validation finding mitigation following deployment.

Responsibilities

• Own most aspects of the model development life cycle, including:
  • Data acquisition
  • Assessing data integrity
  • Model development
  • Documentation
  • Implementation assistance
  • Assisting with closing assurance provider issues related to the model
• Develop, maintain, and supervise monitoring, performance reporting, and change-management processes; work with stakeholders to ensure models meet business objectives.
• Ensure model development projects and processes comply with the organization’s model risk management requirements and other applicable policy requirements.
• Assist with mentoring and training to accelerate model development across techniques, process, and business knowledge.
• Promote user understanding and acceptance of models and associated analytics, including written and verbal presentations to model users, stakeholders, managers, and oversight groups.
• Serve as a core point of contact for model questions across the firm as needed, including assurance providers (e.g., Corporate Model Risk Management, Corporate Audit, and regulators); support regulatory examinations and respond to requests.
• Assist with identifying, recruiting, and maintaining quantitative talent.
• May supervise a small staff performing model development life cycle duties.

Requirements

• 10 years of relevant experience in best practices, or equivalent financial industry experience developing, documenting, implementing, or validating quantitative models with concentration in a particular financial domain.
• 7+ years of model development experience using SAS or other applicable model development software/programming tools.
• Strong English communication skills (written and verbal).
• Ability to distill complex mathematical concepts into actionable results.
• Strong work ethic with demonstrated commitment to ongoing personal and associate knowledge base and technical skills development.
• Organization skills, including the ability to communicate and manage competing priorities effectively.
• Strong problem-solving skills.
• Advanced degree or equivalent experience in Statistics, Econometrics, Operations Research, Actuarial Science, Applied Mathematics, or other applied quantitative science, or equivalent education and related training.

Preferred Qualifications

• Master’s degree/PhD.
• Relevant professional designation(s).
• Experience in risk management.
• Knowledge/experience of best practices and the current regulatory environment and associated expectations within the financial services industry.

Compensation & Benefits

• Regular teammates working 20 hours or more per week are eligible for benefits (eligibility for specific benefits may vary by division).
• Benefits may include medical, dental, vision, life insurance, disability, accidental death and dismemberment, tax-preferred savings accounts, and a 401k plan.
• Time off includes no less than 10 days of vacation (prorated based on date of hire and full-time or part-time status) during the first year of employment, along with 10 sick days (also prorated) and paid holidays.
• Depending on the position and division, eligibility may also include a defined benefit pension plan, restricted stock units, and/or a deferred compensation plan.
• Additional details on specific benefits are provided during the hiring process based on full-time or part-time status, position, and division.

Location

• United States of America

Work Authorization / Equal Opportunity

• The employer participates in E-Verify and is a drug-free workplace.
• Equal opportunity employer; does not discriminate on protected characteristics as protected by law.