Model Risk Management Quantitative Analyst
About The Position
The Model Risk Management Quantitative Analyst independently assesses models used throughout the credit union for lending, financial management, forecasting, fraud detection, liquidity management, and strategic decision-making. The role performs quantitative testing, data analysis, performance evaluation, and independent challenge to determine whether models are conceptually sound, appropriately implemented, and fit for purpose. The analyst partners with model owners, data teams, business stakeholders, and risk management leaders to evaluate model assumptions and performance, identify limitations, and communicate findings that support sound model risk management practices.
Responsibilities
- Perform independent validations of internally developed and vendor-provided models.
- Review model purpose, design, methodology, assumptions, limitations, and intended use.
- Assess conceptual soundness and alignment with business objectives.
- Conduct replication testing, benchmarking, outcomes analysis, and sensitivity testing.
- Evaluate model performance against expected results and established thresholds.
- Identify model weaknesses, limitations, and areas requiring remediation.
- Analyze model input data for accuracy, completeness, consistency, and appropriateness.
- Perform exploratory analysis to identify data anomalies and performance drivers.
- Apply regression analysis, hypothesis testing, correlation analysis, segmentation analysis, and stability analysis.
- Evaluate model effectiveness using appropriate performance metrics.
- Review ongoing model monitoring results and assess model stability and performance trends.
- Evaluate performance deterioration and emerging model risks.
- Analyze back-testing and forecasting results.
- Recommend model enhancements and monitoring improvements.
- Prepare validation reports documenting scope, testing, findings, conclusions, and recommendations.
- Support model inventory maintenance and model risk assessments.
- Ensure validation activities comply with regulatory guidance and internal model risk standards.
- Ensure proper policies, procedures, risk mitigation activities, and operating controls are followed.
- Report gaps in policies, procedures, and operating controls to leadership to help mitigate member impact and risk.
- Present findings to model owners and management.
- Communicate technical issues clearly and practically.
- Provide effective challenge supported by quantitative evidence.
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What This Job Offers
Job Type
Full-time
Education Level
No Education Listed
