Sr. Analyst, Model Risk Management

PenFed Credit Union • West McLean, VA

279d

About The Position

Are you looking to take your career from good to great? As an employee of PenFed, every day is an opportunity to thrive, and be part of a team working to ensure our organization is providing world class service to our members, employees, and our communities. We exist to help our members realize their full potential, educate and encourage their dreams, and make every effort to follow our mission and help our members “do better.” Joining PenFed is more than being an employee; it's about being a part of the PenFed family. PenFed is hiring a (Hybrid) Sr. Analyst, Model Risk Management at our Tysons, Virginia location. The primary purpose of this job is to support PenFed's Model Risk Management (MRM) program second line of defense team, with a focus on operations, governance, and quality assurance. This role is responsible for continuous improvement of MRM program, ensuring compliance with MRM procedures, and supporting management with overseeing model governance. This role works closely with manager and various stakeholders in the first line of defense to ensure adherence to internal policies, industry best practices, and regulatory requirements. This position will support PenFed's strategic interest in ensuring safety and soundness of the Credit Union via focus on the integrity and efficacy of models employed across the enterprise, and the increasing maturity of model risk governance.

Requirements

• Equivalent combination of education and experience is considered.
• Bachelor's Degree in Business, finance, economics, mathematics, statistics, or a related field, with relevant experience is required.
• Minimum of five (5) years of experience in the financial services industry (credit union or banking).
• Minimum of five (5) years of experience in governance, risk, compliance, or similar second-line defense role is required.
• Strong skills in Microsoft Excel, Word, and PowerPoint.
• Ability to work well with others, provide effective challenge, and build consensus is required.
• Strong interpersonal skills and ability to work throughout all levels of the organization with confidence and courtesy.
• Ability to think strategically and analytically, solve problems independently when necessary, and manage multiple, concurrent projects is required.
• Ability to follow tasks through to completion; willingness to request clarification when needed.
• Strong written and verbal communication skills are required, including communicating effectively and confidently at all levels, and applying sound judgment.

Nice To Haves

• Executive Presence
• Self-Motivation
• Consultative/Collaborative Approach
• Attention to Detail/Quality Control
• Personal Integrity/Ethics
• Professional Competence/Credibility
• Ability to Maintain Confidentiality
• Flexibility/Adaptability
• Planning or Organizational skills

Responsibilities

• Ensure model governance and processes are effectively documented and provide guidance to comply with policy and regulatory requirements.
• Perform second line independent quality control reviews if model documentation, model reviews, model performance monitoring reports, ensuring adherence to established MRM standards and identifying any gaps or deficiencies.
• Ensure MRM policies, processes, procedures, tools, and information systems related to model risk and other areas of risk management are current, accurate, and effective.
• Perform periodic assessments and reviews to identify potential gaps or weaknesses in model risk governance and compliance practices and recommend appropriate remediation activities.
• Evaluate and maintain a complete inventory of models, tracking of performance monitoring reports, documentation, validation, and findings, preparing regular updates for leadership, and working with teams across the enterprise, including quantitative modelers and business leaders, to identify, categorize and classify models in compliance with MRM policy standards.
• Work with leadership to support the identification of key modeling risks, develop plans to address these risks, and monitor progress toward this end.
• Gather data and prepare comprehensive reports and/or dashboards that provide actionable data on model risk management activities and recommendations for Senior management.
• Prepare regular analysis and PowerPoint presentations for management including MRM working group and risk committee meetings.
• Support, at direction of management, responses to NCUA or other regulator queries, related to model risk management and/or other MRM programs.
• Identify and work to offer model risk management best practices training for PenFed modelers.
• Perform quality reviews on model documentation, model monitoring reports.
• Work with various model risk tracking software applications including Archer.

Benefits

• Robust medical, dental and vision plan options
• Plenty of paid time off
• 401k with employer match
• On-site fitness facilities at our larger locations

What This Job Offers

• Job Type: Full-time
• Career Level: Mid Level
• Industry: Credit Intermediation and Related Activities
• Education Level: Bachelor's degree