Quantitative Model Risk Analyst Sr.

Flagstar Bank•Hicksville, NY

2d•Onsite

About The Position

The Quantitative Model Risk Analyst Sr plays a key role in the oversight and execution of the Bank's enterprise-wide model risk management framework. This position is responsible for performing independent validations of complex and high-impact models across various business units, including evaluating model design, development documentation, underlying code, data integrity, and performance metrics. The role requires deep technical expertise and strong judgment to assess model risk and compliance with regulatory expectations.

Requirements

Master's Degree (or Postgraduate equivalent) in Economics, Computational Finance, Statistics, Applied Mathematics, or related field.
6+ Years experience at a financial institution, specifically in risk management and/or model risk management with a focus on BSA/ Anti-Money Laundering (AML) Models.
Knowledge of stress testing and banking regulations.
Excellent knowledge of statistics, mathematics and financial risk modeling.
Knowledge of MS Office software including Word, Excel, and PowerPoint, ability to produce charts and graphs in Excel.
Strong project management and organization skills.
Strong verbal and written communication skills.
Strong analytical skills and attention to detail.
Ability to multi-task and prioritize work appropriately.
Ability to work with all levels of management and staff across all lines of business in the Bank.
Ability to work independently and on a team and follow through assignments to completion.
Ability to meet established deadlines.
Demonstrates a strong ability to build and maintain effective relationships with stakeholders by communicating clearly, engaging in proactive collaboration, and leveraging cross functional insights.
Aligns relationship building efforts with enterprise goals to accelerate performance and drive strategic results.
Builds trusted client relationships, whether internal or external, by identifying needs and delivering tailored solutions to enhance the overall client experience.
Fosters or supports a positive work culture and productive work environment, displaying importance of effective relationships with customers and stakeholders.

Responsibilities

Performs independent validation activities for a portfolio of complex and high-impact models by critically evaluating the conceptual soundness of model design, development processes, performance monitoring, and outcomes analysis.
Conducts in-depth technical assessments, including full replication or challenge of model code, assessment of key assumptions and limitations, and provides expert-level review of model documentation, input data quality, processing logic, and output integrity.
Reviews sensitivity analysis prepared by the model owner and performs independent sensitivity analysis, as applicable.
Builds and sustains strategic partnerships with model developers, business-line risk teams, and internal and external auditors to promote transparency, model governance, and alignment with regulatory expectations.
Authors comprehensive model validation reports and offers strategic recommendations to enhance the robustness of model design, back testing practices, implementation procedures, and ongoing recalibration efforts.
Documents effective challenge sessions with BPOs, model owners, and developers to discuss validation findings, recommendations, and observations.
Provides practical suggestions to model owners and developers for remediation.
Validates remediation of model deficiencies, provides subject matter guidance, and communicates via memo.
Supports the enhancement and automation of model risk reporting frameworks, ensuring clear visibility into model deficiencies, remediation timelines, risk ratings, and other key performance indicators.
Uses independent judgement and discretion to make decisions.
Analyzes and resolves problems.
Performs special projects, and additional duties and responsibilities as required.
Consistently adheres to regulatory and compliance policies and standards linked to the job as listed and complete required compliance trainings.
Accountable to maintain compliance with applicable federal, state and local laws and regulations.