Quantitative Model Development Officer I- Fraud

Truist • Charlotte, NC

4d

About The Position

Lead model development efforts specific to fraud measurement estimation methodologies. Responsible for all or parts of the development life cycle of assigned quantitative models related to the company's management and mitigation of fraud risk. Ensures that risks of assigned models are properly identified and managed. Partners across the firm including Risk Functions and lines of businesses to evaluate and improve assigned models continually. Area of model development includes fraud and identity verification risk. This position may also lead periodic model review and validation finding mitigation following deployment.

Requirements

• Ten years of relevant experience in best practices, or equivalent financial industry experience developing, documenting, implementing, or validating quantitative models with concentration in a particular financial domain
• Seven+ years of model development experience using SAS or other applicable model development software/programming tools
• Strong English communication skills, both written and verbal
• Ability to distill complex mathematical concepts into actionable results
• Strong work ethic; promote and conduct continued development of personal and associate knowledge base and technical skills
• Organization skills: Ability to communicate and manage competing organizational priorities effectively
• Problem solving skills: Strong problem solving skills
• Education: Advanced degree or equivalent experience in Statistics, Econometrics, Operations Research, Actuarial Science, Applied Mathematics, or other applied quantitative science, or equivalent education and related training

Nice To Haves

• Master's degree/PhD
• Relevant professional designation(s)
• Experience in risk management
• Knowledge/experience of best practices and current regulatory environment and associated expectations within the financial services industry

Responsibilities

• Conduct/own most aspects of the model development life cycle. The model development life cycle includes data acquisition, assessing data integrity, model development, documentation, implementation assistance and assisting with closing assurance provider issue related to the model.
• Develop, maintain and supervise monitoring, performance reporting, and change-management processes. Work with stakeholders to ensure models fulfill the business objectives set for them.
• Ensure model development projects and processes comply with Truist requirements for model risk management and other policy requirements.
• Assist with mentoring and training to accelerate model development in areas of techniques, process and business knowledge.
• Advocate towards user understanding and acceptance of models and associate analytics, including written and verbal presentations to model users, stakeholders, managers and oversight groups.
• Serve as core point of contact to address model questions within the firm as needed, including assurance providers (e.g., Corporate Model Risk Management, Corporate Audit, and regulators). Support regulatory examinations and address respective requests.
• Assist with identifying, recruiting, and maintaining, quantitative talent.
• May supervise a small staff performing model development life cycle duties.

Benefits

• Truist offers medical, dental, vision, life insurance, disability, accidental death and dismemberment, tax-preferred savings accounts, and a 401k plan to teammates.
• Teammates also receive no less than 10 days of vacation (prorated based on date of hire and by full-time or part-time status) during their first year of employment, along with 10 sick days (also prorated), and paid holidays.
• Depending on the position and division, this job may also be eligible for Truist’s defined benefit pension plan, restricted stock units, and/or a deferred compensation plan.

What This Job Offers

• Job Type: Full-time
• Career Level: Mid Level