Model Risk Analyst

About the Role

The Model Risk Analyst contributes to the overall quality of risk management across the Bank by collaborating with Corporate Risk Management directors, senior leaders, business unit managers, and model owners. The role ensures model development, implementation, and monitoring conform to the Bank’s Model Risk Management Framework and regulatory guidelines. Assesses models for conceptual soundness, application and use, controls and implementation, and continued performance in production.

Key Responsibilities

• Assists with in-depth analytical reviews of models, challenging theoretical and control soundness.
• Supports the maintenance of a bank-wide inventory of quantitative models and qualitative computational tools within The Bank’s Model Inventory system.
• Provides guidelines to model owners for effective model development or acquisition, documentation, input data quality, testing, outcomes analysis, and performance monitoring.
• Informs Model Risk management of any delays in model implementation.
• Observes scheduling requirements for model validations.
• Specifies appropriate remedial action plans for models with identified deficiencies.
• Maintains compliance with applicable rules, regulations, and expectations set by regulators for model risk management (e.g., SR 11-7, SR 12-7, SR 15-18/19).
• Communicates and escalates matters of significant model risk to senior leaders and business unit managers.
• Assists Model Risk management in developing and delivering model risk education.
• Exercises discretion and judgment in performing job functions.
• Maintains good punctuality and attendance.
• Follows Bank policy, procedures, and guidelines.
• Performs other duties as required.

Requirements & Tech Stack

• Knowledge of model building and/or validation using SAS, R, Python, Matlab, etc.
• Knowledge of the financial services industry.
• Ability to prepare written deliverables and presentations.
• Ability to demonstrate effective interpersonal, communication, and analytical skills.
• Ability to demonstrate creativity, critical thinking, initiative, and problem-solving skills.
• Ability to partner effectively with multiple business groups, corporate areas, auditors, and regulators.
• Ability to operate collaboratively in a fast-paced, unpredictable environment, with tight deadlines.
• Ability to manage multiple work streams and deliverables, and coordinate across functional initiatives.
• Ability to travel as needed.
• Skill in using Microsoft Office (Word, Excel, PowerPoint, Outlook).

Qualifications

• Bachelor's degree in finance, economics, or a related quantitative field, or commensurate work experience, required.
• Master's degree preferred.
• Minimum of six (6) months of experience in model building or validation using SAS, R, Python, Matlab, etc., preferred.