A NY financial institution that has been around for over 100 years is seeking a Model Risk Management Officer to understand best practices in model validation as defined by the industry, Model Risk governance, and FHFA’s advisory bulletins. This person would analyze a variety of the Bank’s models regardless of their previous specialty.

Salary: Up to 180k base bonus

Location: New York, NY (3-4 days/week)

Visa sponsorship is NOT AVAILABLE

Responsibilities:

• Perform annual reviews and validations of Bank significant and mission-critical models as well as validation of significant changes to these models.
• Participate in Modeling, Risk Management, Bank-wide and System-Wide projects and initiatives.
• Perform independent assessments of market and credit risk exposures.
• Screen and evaluate market information and pricing methodologies used among the Bank financial models and reporting systems.
• Serve as Model Risk Management’s contact with Model Owners
• Perform reviews for non-mission critical models and EUCs as directed.
• Serve as Backup for Derivatives Fair Value, curve verification, prepayment reporting and derivatives analysis requests, as necessary.
• Serve as Backup for Investment Fair Value monthly pricing.
• Identify opportunities to improve process and procedures towards industry best practice and regulatory requirements such as FHFA AB 2013-07 and FHFA AB 2022-03.

Requirements:

• Bachelor's degree in Finance, Economics or related (Master's preferred)
• Extensive experience with Model Development and Validation, Quantitative Analysis, Valuation and Risk
• Experience evaluating models across model data and parameters, design and methodology, implementation, and model documentation
• Quantitative and analytical skills
• Ability to use industry softwares such as Bloomberg, Mortgage Product software, derivative software, Microsoft Office suite
• Proficiency in programming languages (such as Python)