What are the responsibilities and job description for the Model Risk Associate position at SMBC Group?
The anticipated salary range for this role is between $95,000.00 and $135,000.00. The specific salary offered to an applicant will be based on their individual qualifications, experiences, and an analysis of the current compensation paid in their geography and the market for similar roles at the time of hire. The role may also be eligible for an annual discretionary incentive award. In addition to cash compensation, SMBC offers a competitive portfolio of benefits to its employees.
Role Description
SMBC is seeking a qualified individual as a Model Validation Specialist that will report to the Compliance Model Validation Manager, in the Risk Management Department, Americas Division. The Compliance Model Validation Specialist / Sr. Analyst will lead the validation of models and fraud detection models for SMBC
Role Objectives : Delivery
Document model development to standards consistent with regulatory expectation. Validate suitability of models for business purpose and according to internally developed standards. Draft policies and procedures for model development and maintenance. Audit policies and procedures. Create a number of backtesting methodologies to ensure models are producing expected results. Help tune models for changes in transaction levels / types, market conditions and risk appetite.
Role Responsibilities :
- Conduct end-to-end validations and reviews of BSA / AML / Fraud models, assessing model risk from the aspects of conceptual soundness, data quality, model / scenarios design, model usage, model implementation, model performance, model control and ongoing performance monitoring
- Identify model deficiencies through validations, communicate the issue with model owners and senior management, and provide feasible and adequate recommendations
- Develop and maintain documentation templates, testing packages and automation tools / scripts to standardize validation processes
- Support audits and examinations for compliance and fraud risk models
- Maintain up-to-date knowledge in AML / fraud regulations and industry best practice
Qualifications and Skills
Salary : $95,000 - $135,000
