Senior Model Risk Validation Analyst – Expert Judgement Models

Senior Model Risk Validation Analyst – Expert Judgement Models

Country: United States of America

Your Journey Starts Here:

Santander is a global leader and innovator in the financial services industry. We believe that our employees are our greatest asset. Our focus is on fostering an enriching journey that empowers you to explore diverse career opportunities while nurturing your personal growth. We are committed to creating an environment where continuous learning and development are prioritized, enabling you to thrive both professionally and personally. Here, you will find ample opportunities to connect and collaborate with talented colleagues from around the world, sharing insights and driving innovation together. Join us at Santander, where you are supported by a culture of engagement and a commitment to your success.

An exciting journey awaits, if you are interested in exploring the possibilities We Want to Talk to You!

The Difference You Make:

The Senior Model Risk Validation Analyst (Sr. Analyst, Model Risk) will be responsible for performing independent validation of models and expert judgement models used by the bank in conformance with regulatory guidance on model risk SR11-07. This individual’s responsibility includes performing robust model validations, from input data, model methodology, outcome and usage and related controls and governance around model risk. This role involves internal communication with business and model development and external with vendors and third-party servicers. Furthermore, this individual is expected to take the day-to-day model risk governance responsibilities such as ongoing performance monitoring, orderly remediation of findings, and model annual reviews.

• Evaluates model assumptions and weaknesses, prepares reports describing the results of the validation analyses and list the recommendations for addressing any issues identified.

• Conducts robust validations of a wide variety of models against established standards, developing benchmark, challenger, and replication models where applicable.

• Advises senior personnel in their communications with risk committees, auditors, regulators, and senior management regarding model risk and its potential effects on the risk profile of the bank.

• Manages the resolution of findings with model owners and developers.

• Reviews ongoing model performance, assesses overall model health within a given framework, identifies potential problems and works with stakeholders to resolve issues identified.

• Partners with model owners and developers to understand the business context for model use, producing technical guidance and adding value to the business process.

• Develops and executes initiatives such as researching new trends in modeling and approaches to the management of associated model risk.

What You Bring:
To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. The requirements listed below are representative of the knowledge, skill, and/or ability required. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

Bachelor’s Degree or equivalent work experience in Statistics, Mathematics, Economics or equivalent quantitative discipline. - Required.

Master's Degree or PhD in a quantitative discipline such as Financial Engineering, Mathematics, Physics, Quantitative Finance, Economics, Statistics, or other relevant field of study. - Preferred.

3+ years of experience in Model Development, Validation and/or Model Risk Management function at a bank.

• Programming capabilities: Hands on programming skills required in common programming languages and packages like R, Python, Matlab, and SAS etc.

• Detailed familiarity with advanced quantitative analysis and applied statistical techniques in relevant asset/liability categories, including regression, time series forecasting, econometric modelling, PCA analysis, data mining, survival analysis, sensitivity, back-testing, model performance measurement.

• Familiarity with QRM, ADCo and Intex or similar systems highly preferred.

• Sound knowledge of financial numerical methods/PDEs, stochastic calculus, and option pricing.

• Ability to apply mathematical and statistical skill in a highly practical way to solve problems.

• Solid communication skill is required. Ability to work with senior management and other stakeholders.

• Outstanding time and stress management skills, team-work spirit. As a responsible level the team member should be a self-starter and need minimal direction from managers in pursuing projects.