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Santander · 1 month ago

Model Validation Analyst – Corporate & Investment Banking

New York

Full-time

Onsite

Mid Level

$68K/yr - $140K/yr

3+ years exp

Santander is a global leader and innovator in the financial services industry. The Model Validation Analyst will be responsible for performing independent validation of models used by the bank, ensuring compliance with regulatory guidance on model risk. This role involves evaluating model assumptions, conducting robust validations, and managing the resolution of findings with model owners and developers.

BankingCommercial LendingFinanceFinancial ServicesPersonal Finance

Comp. & Benefits

Responsibilities

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

Qualification

Model ValidationQuantitative AnalysisStatistical TechniquesProgramming in RProgramming in PythonProgramming in MatlabProgramming in SASFinancial Numerical MethodsStress ManagementTeamworkTime Management

Required

Bachelor's Degree in Statistics, Mathematics, Economics or equivalent quantitative discipline or equivalent work experience

3+ years of experience in Model Validation and/or Model Risk Management function at a large corporate and investment bank

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

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

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

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

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

Preferred

An advanced degree, masters/PhD in a quantitative discipline such as Financial Engineering, Mathematics, Physics, Quantitative Finance, Economics, Statistics, or other relevant field of study

Familiarity with QRM, ADCo and Intex or similar systems

Established work history or equivalent demonstrated through a combination of work experience, training, military service, or education

Experience in Microsoft Office products