Model Risk Co-Op

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

20h

About The Position

The Model Risk Co-Op will help assess 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 across the Bank to assess their reasonableness, weaknesses, and risks. The role involves interacting with model owners and users to understand model performance, development activities, and emerging risks.

Requirements

• Working toward an undergraduate or graduate degree, or a recent graduate, with a concentration in Quantitative Finance, Statistics, Mathematics, Economics, or another 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, and Monte Carlo simulation.
• Proficiency with Microsoft Office applications, including Excel, Word, PowerPoint, and Outlook.
• Strong written and oral communication skills.
• Ability to write clear technical reports and memos.
• Ability to communicate and maintain relationships with model owners and other stakeholders.

Nice To Haves

• Previous internship or undergraduate/graduate research experience in a related field, such as model validation, financial modeling, data science, machine learning, or predictive modeling.
• Proficiency with at least one programming language, such as Python or R.

Responsibilities

• Participate in EUC and model validation projects, conducting robust and comprehensive testing and analysis in accordance with Bank policies and relevant regulatory guidelines.
• Help generate validation reports describing conclusions and discuss findings and recommendations with management and model owners.
• Provide analytical support for other departmental tasks as needed.
• Assist with other model and EUC validation activities, including assessment of model and model-related EUC controls.

What This Job Offers

• Job Type: Full-time
• Career Level: Intern
• Education Level: No Education Listed