Model Risk Review Specialist

Huntington National Bank•Westwood, MA

1d•Hybrid

About The Position

Review and validate models and quantitative frameworks spanning credit, interest rate, market risk, economic, capital, capital market valuation, and other models as needed, ensuring adherence to corporate policies and regulatory standards. Provide critical analysis and effective thought process and challenges for models reviewed and validations performed by both internal and external parties. Communicate to quantitative and business audiences through verbal and written presentations describing the results of the review and validation analyses, and be able to recommend remediation strategy to address the findings. Assist model owners and developers in the compilation of comprehensive model documentation and ongoing maintenance of the documentation. Serve as a key resource on model concepts and assumption change questions including ability to understand impacts through recommendations. Work closely with business owners and model users and developers to understand the business context for model use and facilitate the model approval process. Work with the lines of business to identify modeling gaps, errors, or oversights and recommend ways to address these issues. Proactively identify emerging model risk issues impacting the company and communicate to model developers, senior management, and the appropriate risk committee. Keep abreast of the latest quantitative strategies through research on solving problems related to credit, interest rate, market risk, economic capital, or capital market valuation, and ability to translate strategies through coding using R, Python, SAS, or related statistical tools. May mentor and supervise junior colleagues as needed. Position may be eligible for flexible work arrangement that combines in-office and work from home.

Requirements

Master's degree in mathematics, statistics, operations research, or related quantitative field
3 years of experience applying financial modeling theory to provide general solutions
3 years of experience supporting Risk Management or a Business Unit of a financial institution working with high impact models in the following risk areas: credit, interest rate, market risk, economic capital or capital market valuation
3 years of experience developing or validating models for loss forecasting of residential mortgage, home equity loans, home equity line of credit, and auto loans
3 years of experience applying statistical concepts and performing data analysis
3 years of experience performing independent research and development to solve problems and translating that into code
3 years of experience using statistical software packages (e.g. SAS, 'R', Python etc.), and query tools, including MS Excel
3 years of experience presenting technical data and analysis to management/senior leadership

Responsibilities

Review and validate models and quantitative frameworks spanning credit, interest rate, market risk, economic, capital, capital market valuation, and other models as needed, ensuring adherence to corporate policies and regulatory standards.
Provide critical analysis and effective thought process and challenges for models reviewed and validations performed by both internal and external parties.
Communicate to quantitative and business audiences through verbal and written presentations describing the results of the review and validation analyses, and be able to recommend remediation strategy to address the findings.
Assist model owners and developers in the compilation of comprehensive model documentation and ongoing maintenance of the documentation.
Serve as a key resource on model concepts and assumption change questions including ability to understand impacts through recommendations.
Work closely with business owners and model users and developers to understand the business context for model use and facilitate the model approval process.
Work with the lines of business to identify modeling gaps, errors, or oversights and recommend ways to address these issues.
Proactively identify emerging model risk issues impacting the company and communicate to model developers, senior management, and the appropriate risk committee.
Keep abreast of the latest quantitative strategies through research on solving problems related to credit, interest rate, market risk, economic capital, or capital market valuation, and ability to translate strategies through coding using R, Python, SAS, or related statistical tools.
May mentor and supervise junior colleagues as needed.