Model Risk Co-Op

Federal Home Loan Bank of Des Moines • Des Moines, IA

1d

About The Position

The Model Risk Co-Op will play an important role in assessing the Bank’s model risk through End User Computing Tool (EUC) validations, model validations, risk reviews, and ongoing analysis. The Co-Op will assist the Model Risk Management Group (MRMG) in validating EUCs and financial models throughout the Bank in order to assess model reasonableness, weaknesses, and risks. The Co-Op will interact with model owners/users across the Bank to understand current model performance, development activities, and emerging risks.

Requirements

• Working towards a graduate or undergraduate degree or a recent graduate with concentration in Quantitative Finance, Statistics, Mathematics, Economics, or other quantitative discipline.
• Understanding of financial market concepts and basic fixed-income analytics.
• Understanding of stochastic processes, time series analysis, principal component analysis, optimization, logistic regression, Monte Carlo simulation.
• Proficiency with Microsoft Office applications (Excel, Word, PowerPoint, Outlook).
• Strong written and oral communication skills required. Ability to write clear technical reports and memos. Must be able to communicate and maintain relationships with model owners and other stakeholders.

Nice To Haves

• Previous internship or graduate/undergraduate research experience in a related field, such as model validation, financial modeling, data science, machine leaning and predicative modeling is desirable.
• Proficiency with at least one of the programming languages such as Python or R is desirable.

Responsibilities

• Participate in End User Computing Tool (EUC) and Model Validation projects to conduct robust and comprehensive testing and analysis according to the Bank’s policies and relevant regulatory guidelines.
• Participate in generating validation reports detailing conclusions of the model/EUC validation and discuss findings and recommendations with management and model owners.
• Provide analytical support for other departmental tasks as needed.
• Assist in other model/EUC validation activities, such as assessing the control aspects of models and model-related EUCs.

What This Job Offers

• Career Level: Entry Level
• Education Level: No Education Listed