Federal Home Loan Bank of Indianapolis (FHLBI) · 2 months ago
Model Risk Analyst II
Indianapolis, IN
Full-time
Hybrid
Mid Level
$85K/yr - $100K/yrFederal Home Loan Bank of Indianapolis (FHLBI) is a leader in affordable housing and a cooperative providing liquidity to member institutions. The Model Risk Analyst II will assess model risk through validations, reviews, and analyses, working with model owners to ensure model performance and compliance with regulatory guidance.
FinanceBankingProperty & Casualty InsuranceVenture CapitalFinancial ServicesInsurance
Responsibilities
Participate in model validations for various types of financial models, including credit risk, interest rate derivative valuation, mortgage prepayment/default, and asset-liability management models. This will include performing quantitative analyses and tests, assessing model theory, backtesting, benchmarking, stress testing, and assessing the effectiveness and sufficiency of model controls and documentation
Participate in writing validation reports or memos detailing the validation approach, analyses conducted, and conclusion of the validation. Present findings and recommendations to model owners/users
Participate in the development of benchmarking models and data analytical tools, including machine learning models for validation and model performance monitoring purposes
Provide independent opinions on various modeling and model validation issues. Recommend required action plans to model owners/developers
Assist in third-party model validation
Participate in remediation of audit and regulatory findings
Participate in annual and ad-hoc model reviews and quarterly model performance reviews
Assist in other model risk management activities such as maintaining the Bank’s model inventory, planning the model validation schedule, tracking outstanding model validation findings, and generating periodic model risk-related reports to relevant committees and stakeholders
Conduct research and analysis to maintain knowledge of modeling best practices, model validation techniques, and current financial market information
Understand and interpret current regulatory guidance (specifically FHFA’s Model Risk Management Advisory Bulletins 2013-07 and 2022-03) and apply regulations in assessing Bank models
Qualification
Required
Advanced degree with a concentration in Computational/Quantitative Finance, Statistics, Mathematics, Computer Science, Economics, or some other quantitative discipline
Work/internship experience is desirable
Understanding of financial market concepts and fixed-income instruments, including mortgages and MBS, interest rate derivatives, fixed-income analytics and risk metrics, prepayment forecasts, interest rate modeling, probability of default and credit loss modeling, and stress testing
Understanding of stochastic processes, time series analysis, principal component analysis, optimization, logistic regression, Monte Carlo simulation
Proficiency with at least one of the programming languages such as Python, R, Julia, or MATLAB is required. Python is strongly preferred
Must have a high level of proficiency with Microsoft Office applications (Excel, Word, PowerPoint, Outlook). Experience with PowerBI is desirable
Strong written and oral communication skills required. Ability to write clear technical reports and memos. Must be able to communicate and maintain relationships with model owners/users and other stakeholders and interact effectively with management
Ability to work full-time
Ability to uphold and model the Bank's Guiding Principles
Preferred
Hands-on experience with machine learning/artificial intelligence models is highly desirable
Hands-on experience with valuation tools/libraries such as PolyPaths, QRM, Calypso, Yieldbook, FINCAD, and/or Numerix is desirable
Understanding of current regulatory guidance on model risk management, including FHFA's AB 2013-07 and AB 2022-03, OCC Bulletin 2011-12, or FRB SR 11-17, desirable
Benefits
Flexible hybrid workforce model: Onsite three days a week and two days remote. We also offer remote flex days!
Industry-high 401(k) match: up to 6% PLUS…an additional 4% contribution!
Tuition reimbursement assistance: To help you continue to develop personally and professionally.
Student loan repayment assistance: That’s right, we will help you repay outstanding student loans!
Awesome Benefits Package: Medical, dental, vision benefits and even pet (you read that right) insurance!
Generous time off: Vacation, paid federal holidays, birthday month floating holiday, volunteer day and summer hours program
“Dress for your day” dress code: You choose the appropriate work attire based on what your day looks like.
Company
Federal Home Loan Bank of Indianapolis (FHLBI)
The Federal Home Loan Bank of Indianapolis (FHLBank Indianapolis) is one of 11 independent regional cooperative banks across the U.S.
Founded in 1932
201-500 employees
H1B Sponsorship
Federal Home Loan Bank of Indianapolis (FHLBI) has a track record of offering H1B sponsorships. Please note that this does not
guarantee sponsorship for this specific role. Below presents additional info for your
reference. (Data Powered by US Department of Labor)
Distribution of Different Job Fields Receiving Sponsorship
Represents job field similar to this job
Trends of Total Sponsorships
2025 (5)
2024 (6)
2023 (9)
2022 (7)
2021 (4)
2020 (5)
Funding
Current Stage
Growth StageLeadership Team
Brendan McGrath
President and CEO
Cindy Konich
EVP - COO - CFO
Recent News
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