Sr Model Validation Specialist

Sumitomo Mitsui Banking Corporation • Jersey City, NJ

1d

About The Position

Reporting to the Manager, Model Validation Group, the Model Validation Vice President plays an integral role in the implementation of the Model Risk Management framework for NYB and its subsidiaries. The role involves performing independent validation of credit risk and capital stress testing models, with the objective of strengthening model risk governance and enhancing overall model quality.
The Vice President is responsible for documenting model development in accordance with regulatory expectations and internal standards, and for assessing the suitability of models for their intended business purpose. The role also includes supporting the development and review of model-related policies and procedures, conducting audits of adherence to established frameworks, and designing and executing back-testing methodologies to evaluate model performance and ensure results are reasonable, robust, and reliable.Role Objectives: Delivery
Conducts model validation across SMBC businesses and group companies for their intended use and scope, commensurate with the complexity and materiality of the models.
Develops model validation methodology to assess models to confirm the conceptual soundness of model theory, quality of model implementation, and robustness of model ongoing monitoring.
Identify model deficiencies through validations, communicate the issue with model owners and senior management, and provide feasible and adequate recommendations
Conduct reviews on model annual assessment, model changes, and ongoing monitoring results
Develop and maintain documentation templates, testing packages and automation tools/scripts to standardize validation processes
Support audits and examinations for credit risk and stress testing models
Communicates findings from validation work to management and stakeholders, including recommendations as appropriate.
Ensure business continuity under all conditions, sometimes adverse, with strict adherence to established guidelines and deadlines.

Requirements

• Minimum master's or equivalent degree in Statistics, Mathematics, Engineering, Computer Science or related fields.
• Hands on experience in model validation and model development; and working with large and complex data sets.
• In-depth knowledge in loss reserve, CECL, capital and stress testing models
• Strong knowledge of SR11-7, CECL, CCAR, and other regulatory requirements.
• Strong analytical skills, both quantitative and qualitative.
• Strong written and verbal communication skills, with the ability to present complex information clearly and concisely.
• Ability to build and maintain effective working relationships with stakeholders at all levels. Demonstrated ability to work collaboratively in a team environment.
• Strong organizational and project management skills, with the ability to manage multiple tasks and priorities simultaneously.

Responsibilities

• Conducts model validation across SMBC businesses and group companies for their intended use and scope, commensurate with the complexity and materiality of the models.
• Develops model validation methodology to assess models to confirm the conceptual soundness of model theory, quality of model implementation, and robustness of model ongoing monitoring.
• Identify model deficiencies through validations, communicate the issue with model owners and senior management, and provide feasible and adequate recommendations
• Conduct reviews on model annual assessment, model changes, and ongoing monitoring results
• Develop and maintain documentation templates, testing packages and automation tools/scripts to standardize validation processes
• Support audits and examinations for credit risk and stress testing models
• Communicates findings from validation work to management and stakeholders, including recommendations as appropriate.
• Ensure business continuity under all conditions, sometimes adverse, with strict adherence to established guidelines and deadlines.

What This Job Offers

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