Model Risk Analyst - Portland - (KH18841)
Company Name:
Umpqua Bank
Job Description:
Umpqua Bank utilizes quantitative tools to support business processes and ensure informed decision making in areas such as financial planning, fraud detection, and risk management. Model Risk Management is responsible for managing and mitigating potential adverse impacts arising from the use of mathematical, statistical, or financial models that have fundamental errors and from the inappropriate application of model results.
The Model Risk Analyst assists in the performance of this compliance and risk management function by aiding in the design of model development standards and procedures, and by conducting independent model validations studies. The Analyst will assess the conceptual soundness, evaluate and challenge underlying theoretical assumptions, and identify limitations of the models under review. This includes conducting statistical analysis of empirical model performance, developing challenger models for benchmarking comparisons, and composing robust validation reports. The ability to present results of and recommendations arising from validation findings to a wide audience of stakeholders--including model developers, model owners, senior management, and external regulators--is crucial for success in this role.
Responsibilities
Support the development and maintenance of the Model Inventory.
Review existing Model Documentation. Interview Model Developers & Model Owners. Design Model-specific validation plans including assessment of overall project design, dataset creation, model specification, testing, and approval.
Perform statistical analysis of model performance including back-testing, scenario analysis, stress-testing, and development of benchmark models as appropriate.
Document and present results of independent validation studies to model developers, model owners, senior management, and external regulators as needed.
Refer issues requiring remediation to the Model Risk Manager, Model Owners and Model Developers. Monitor resolution of identified issues.
Develop model scorecards and dashboards for ongoing monitoring.
Keep up-to-date on regulatory changes, quantitative techniques, and industry practice.
Follow all Bank policies and procedures, compliance regulations, and complete all required, annual, or job-specific training.
Take personal initiative and serve as a positive example for others to emulate. Embrace the vision to be The World's Greatest Bank.
Other duties as assigned.
Qualifications
Bachelor's degree in quantitative field such as Statistics, Mathematics, Economics, Financial Engineering, or Physics. Graduate degree preferred.
Strong proficiency with MS Office products and solid working knowledge of at least one of SAS, R, Matlab, or Stata.
Knowledge of industry practices and financial concepts. Analytics or Risk Management experience in the banking industry, preferred.
Progress toward or interest in CFA, FRM, or PRMIA certification is a plus.
No relocation offered.
Umpqua Bank is an equal opportunity employer. All qualified applicants will receive consideration for employment without regard to status as a protected veteran or a qualified individual with a disability, or other protected status, such as race, religion, color, national origin, sex, age. We maintain a drug-free workplace and may perform pre-employment substance abuse testing.
LI-UP
Job Requisition ID: KH18841
Job Title: Model Risk Analyst - Portland
Job Type: Full-Time
Location: Portland, OREstimated Salary: $20 to $28 per hour based on qualifications.
Umpqua Bank
Job Description:
Umpqua Bank utilizes quantitative tools to support business processes and ensure informed decision making in areas such as financial planning, fraud detection, and risk management. Model Risk Management is responsible for managing and mitigating potential adverse impacts arising from the use of mathematical, statistical, or financial models that have fundamental errors and from the inappropriate application of model results.
The Model Risk Analyst assists in the performance of this compliance and risk management function by aiding in the design of model development standards and procedures, and by conducting independent model validations studies. The Analyst will assess the conceptual soundness, evaluate and challenge underlying theoretical assumptions, and identify limitations of the models under review. This includes conducting statistical analysis of empirical model performance, developing challenger models for benchmarking comparisons, and composing robust validation reports. The ability to present results of and recommendations arising from validation findings to a wide audience of stakeholders--including model developers, model owners, senior management, and external regulators--is crucial for success in this role.
Responsibilities
Support the development and maintenance of the Model Inventory.
Review existing Model Documentation. Interview Model Developers & Model Owners. Design Model-specific validation plans including assessment of overall project design, dataset creation, model specification, testing, and approval.
Perform statistical analysis of model performance including back-testing, scenario analysis, stress-testing, and development of benchmark models as appropriate.
Document and present results of independent validation studies to model developers, model owners, senior management, and external regulators as needed.
Refer issues requiring remediation to the Model Risk Manager, Model Owners and Model Developers. Monitor resolution of identified issues.
Develop model scorecards and dashboards for ongoing monitoring.
Keep up-to-date on regulatory changes, quantitative techniques, and industry practice.
Follow all Bank policies and procedures, compliance regulations, and complete all required, annual, or job-specific training.
Take personal initiative and serve as a positive example for others to emulate. Embrace the vision to be The World's Greatest Bank.
Other duties as assigned.
Qualifications
Bachelor's degree in quantitative field such as Statistics, Mathematics, Economics, Financial Engineering, or Physics. Graduate degree preferred.
Strong proficiency with MS Office products and solid working knowledge of at least one of SAS, R, Matlab, or Stata.
Knowledge of industry practices and financial concepts. Analytics or Risk Management experience in the banking industry, preferred.
Progress toward or interest in CFA, FRM, or PRMIA certification is a plus.
No relocation offered.
Umpqua Bank is an equal opportunity employer. All qualified applicants will receive consideration for employment without regard to status as a protected veteran or a qualified individual with a disability, or other protected status, such as race, religion, color, national origin, sex, age. We maintain a drug-free workplace and may perform pre-employment substance abuse testing.
LI-UP
Job Requisition ID: KH18841
Job Title: Model Risk Analyst - Portland
Job Type: Full-Time
Location: Portland, OREstimated Salary: $20 to $28 per hour based on qualifications.
|
|
 | |
