Senior Model Risk Analyst

First Merchants Corporation•Farmington Hills, MI

33d

About The Position

First Merchants Bank is seeking a Senior Model Risk Analyst to join our team! This position will maintain the Bank's Model Risk Management program. Assist model developers, owners, and users to implement and comply with the MRM policy and procedures, including reviewing, analyzing, documenting, testing, and assessing model development, implementation, use, validation, and ongoing monitoring activities.

Requirements

Bachelor's degree.
A minimum of three (3) year of model risk management, risk management, model use, model development, and/or other related disciplines.
Basic Microsoft Excel, which may include functions such as VLOOKUP, INDEX-MATCH, pivot tables, data visualization (charts and graphs), conditional formatting, and/or other data analysis tools.

Nice To Haves

Bachelor's degree in business, economics, mathematics, statistics or related field.
Over five (5) years of experience in the banking industry.
Familiarity with Python, R, MATLAB, SQL, SAS, or other relevant languages.
Strong Microsoft Excel, including advanced functions such as VLOOKUP, INDEX-MATCH, pivot tables, data visualization (charts and graphs), conditional formatting, and data analysis tools (e.g., Power Query, Power Pivot, Solver, or macros/VBA).which may include functions such as VLOOKUP, INDEX-MATCH, pivot tables, data visualization (charts and graphs), conditional formatting, and/or other data analysis tools.

Responsibilities

Conduct annual reviews and write annual review reports and ratings, including risk and control assessments, change assessments, issues (if any), and documentation reviews.
Oversee and assess model validations and reports performed by vendors and ongoing monitoring performed by the model owners.
Compile, conduct, and document model testing and complete analysis.
Develop and maintain model documentation by working with vendors and other key stakeholders.
Evaluate model owner, developer, and user compliance with MRM policy and procedures.
Evaluate model inventory, end user computing tool inventory, and issue inventory for accuracy, completeness, and timeliness of information in the system of record (Archer) and assist model owner as needed.
Communicate program expectations and deliverables and keep informed of model risk, changes, emerging risks, issues, and concerns.
Stay up to date on regulatory expectations and standard industry practices related to model risk management.
Provide model risk management training, guidance and advisory services.
Actively support the ERM function of risk oversight and business partner collaboration in other projects as needed.