Model Validation Analyst (Architecture)
TowneBank has a culture that:
• Has a commitment to exquisite service for our members that will lead to our ability to create a reasonable rate of return for our shareholders, a bright future for our dedicated bankers, and a leadership role for our bank in promoting the social, cultural, and economic well-being of our community.
• As a hometown bank, our family members, directors and employees are active volunteers, serving on numerous boards and donating their time and talents to local organizations.
TowneBank is a relationship and friendship driven local bank focused on basic human values that will serve to create a warm sense of belonging and financial well-being among our family of members. We are seeking a Model Validation Analyst to support the Model Risk Manager in implementing and executing the Model Risk Management function for the Bank. The Model Validation Analyst will assist the Model Risk Manager in fostering internal collaboration, and executing leading industry practices in model risk management, and support the execution of model risk management in alignment to the Bank's strategic plan and compliance with applicable regulations.
As a Model Validation Analyst, you may look forward to:
• Conducting independent model validations from inception (scoping, project planning, etc.) to conclusion (reporting, presenting results and recommendations to business partners and senior management);
• Including an assessment of and a critical challenge to the following core elements:
• Design and development
• Input processing
• Output and use
• Monitoring status of model validation findings and facilitate their resolution;
• Periodically assessing model performance results;
• Obeying all applicable federal laws, rules, and regulations relating to Anti-Money Laundering (AML) including the Bank Secrecy Act (BSA).
• Assisting in maintaining the Bank's model inventory and model documentation library;
• Contributing to continuously strengthening the Model Governance framework;
• Developing and nurturing strong working relationships with business partners;
• Consistently promoting evidence-based decision-making across the enterprise.
You are a person that has (required skills):
• A Bachelor's degree in a quantitative field such as Statistics, Mathematics, Physics, Engineering, Economics, etc.; graduate degree preferred.
• 0 to 2 years of relevant work experience in financial services industry in the quantitative space (e.g., Model Validator, Model Developer, Quantitative Risk Analyst, or similar).
• An intermediate-level understanding of statistical model building, econometric forecasting, machine learning, data validation techniques, and ability to apply such methods.
• Familiarity with statistical programming languages/applications (e.g., SAS, R, SPSS, STATA).
• Intellectual curiosity; superior problem-solving and research abilities.
• Excellent project management and organizational skills.
• Strong verbal and written communication skills (especially, an ability to explain complex technical ideas to non-technical audience).
• Knowledge of regulatory requirements related to model risk management (including SR 11-7).
Physically you can anticipate to:
• Express or exchange ideas by means of the spoken word via email and verbally.
• Exert up to/carry 25 pounds of force occasionally, use your arms and legs, and sit most of the time.
• Vision, hearing, speech, and manual dexterity sufficient to reach/handle items and work with fingers is required. Have close visual acuity to perform activities such as analyzing data, viewing a computer terminal, reading, and preparing documentation.
• Not be substantially exposed to adverse environmental conditions.