Lead Validation Analyst- Model Risk Mgmt

Position Title
Lead Validation Analyst- Model Risk Mgmt
Location
NYCB Plaza -102 (Hicksville, NY)
Job Summary
A Lead Model Risk Management Validation Analyst supports the MRM Validation Manager in leading the day-to-day workflow of model validations and providing guidance to the quantitative Model Validation team. This includes providing subject matter expertise on the assessment of the model's design and conceptual soundness, outcomes analysis, and ongoing monitoring; review of model development documentation; review of validation work papers prepared by the Senior Validation Analysts and Analysts; leading meetings with BPOs and model owners throughout the validation; and review of the model validation report before submission to the MRM Validation Manager and MRM Director. The MRM Validation Lead Analyst possesses advanced knowledge of and possesses in-depth experience in one or more of the following types of models: Compliance, Anti-money Laundering, and Bank Secrecy Act models; CECL and credit risk modeling, preferably with multi-family and commercial real estate loans; and Asset Liability Management (ALM) and Treasury models.
Job Responsibilities:
ESSENTIAL FUNCTIONS

• Supports the MRM Validation Manager in leading the day-to-day workflow of model validations.

• Assigns validation tasks to the junior members of the team, and reviews the team's execution of the qualitative and quantitative validation including evaluation of conceptual soundness, assessment of model development documentation, underlying assumptions, model limitations, data quality, and performing statistical tests of model robustness and stability
• Provides subject matter expertise for Compliance, Anti-money Laundering and Bank Secrecy Act models; or CECL and credit risk models; or Asset Liability Management (ALM) and Treasury models.
• Provides subject matter expertise on various model methodologies, e.g., time series, logistic regression, transition matrix, and rules based models
• Documents effective challenge sessions with BPOs, model owners, and developers to discuss validation findings, recommendations, and observations. Provides practical suggestions to model owners and developers for remediation.
• Resolves differences of opinion between MRM and model owners and developers.
• Ensures validation processes and results are documented in accordance with MRM's approved model validation template and checklist.
• Validates remediation of model findings and communicates status via memo correspondence.
• Oversees validation activities performed by third party service providers, including oversight of project status, scope of work in accordance with the engagement letter, completeness of deliverables, and supporting work papers.
• Develops and maintains relationships with BPOs, model owners, and developers.

ADDITIONAL COMMENTS

• Performs special projects, and additional duties and responsibilities as required.
• Where applicable and when performing the responsibilities of the job, employees are accountable to maintain Sarbanes-Oxley compliance and adhere to internal control policies and procedures.

QUALIFICATIONS
Education and experience:

• Master's degree in Economics, Finance, Applied Mathematics, Computational Finance or related fields required.
• Seven (7) years of experience in validating bank related models.

Knowledge, skills and abilities:

• Advanced knowledge of stress testing regulations and requirements.
• Advanced knowledge of banking and credit risk analysis & management, including key risk drivers.
• Advanced knowledge of basic risk management concepts and principles, valuation of basic. instruments and basic accounting principles.
• Advanced knowledge of financial markets, interest rates and potential impact of current economic activity.
• Advanced quantitative and analytical skills.
• Excellent knowledge of statistics, mathematics and financial risk modeling.
• Advanced proficiency in SAS, Excel, R and VBA.
• Strong problem solving and research abilities.
• Excellent verbal and written communication skills.

• Good project coordination and organizational skills.
• Ability to orient, mentor, train and assist less experienced staff.

• Ability to multi-task and prioritize work appropriately.
• Ability to work with all levels of management and staff across all lines of business in the Bank.
• Ability to work independently and on a team and follow through assignments to completion.