Harris Williams · 2 hours ago

Quant Anl/Md Grp Mgr

NJ - Millburn

Full-time

Remote

Senior Level, Lead/Staff

$100K/yr - $262K/yr

10+ years exp

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Responsibilities

Perform qualitative and quantitative assessments of all aspects of models including data quality and integrity, theoretical assumptions and methodologies, and performance testing; Specific duties include: assess conceptual soundness and performance of models based on detailed model documentation and testing results perform independent testing of model assumptions use quantitative tools and techniques to measure and analyze model risks; evaluate identified model risks and reach conclusions on strengths and limitations of the model; conduct ongoing communication with model stakeholders such as developers, owners and reviewers; and prepare detailed validation reports on quantitative models/tools for internal/external communications and/or regulatory compliance, using applicable templates.

As the Model Validation Expert, you will act as subject area expert and provide oversight for the models within the assigned subject area(s). You will lead other validators in validation projects with guidance on the independent review of the models and ensure that validation work is performed in accordance with the model risk management framework.

Establish effective relationships with key stakeholders, including model owners and model developers. Communicate validation results and insights clearly and concisely to both technical and non-technical audiences, including regulatory staff members. Collaborate within the Model Risk Management team to enhance validation processes and contribute to the continual improvement of credit and counterparty risk management practices within the organization.

Directs strategies, initiatives and activities associated with developing, testing, and/or validation of quantitative models used for important business decisions and policies. Responsible for ensuring robust and comprehensive model review testing and analysis in accordance with all applicable review procedures and lifecycle standards.

Establishes strategies and directs the activities needed to develop new model frameworks in support of the line of business.

Directs complex qualitative and quantitative assessments of all aspects of models including theoretical aspects, model design and implementation as well as data quality and integrity. Confirms the reviews of complex reports and associated quantitative analysis. Validates existing models and assesses model risks.

Leads in evaluating identified model risks and reaches conclusions on strengths and limitations of the model. Ensures the preparation and analysis of detailed documents for validation and regulatory compliance.

Directs, motivates, develops and manages the performance of the management team and key staff.

Qualification

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Model ValidationQuantitative AnalysisCredit Risk ManagementData AnalyticsFinancial AnalysisModel DevelopmentRegulatory CompliancePythonRSASSQLOperational RisksPredictive AnalyticsQuantitative Techniques

Required

Master's or Ph.D. in a quantitative field such as Economics, Finance, Mathematics, or a related discipline with strong statistical and econometric training.

10+ years’ experience in financial and credit risk model development and/or validation within the financial services industry.

Knowledge of regulatory requirements related to credit risk models, including commercial credit loss forecasting, commercial credit management, and model risk management practices (OCC 11-12/FR11-7).

Strong communication skills, both written and verbal, with the ability to convey complex technical concepts to diverse stakeholders.

Hands-on experience in programming languages such as Python, R, SAS, and SQL.

Roles at this level typically require a university / college degree.

Higher level education such as a Masters degree, PhD, or certifications is desirable.

Industry-relevant experience is typically 8+ years.

At least 5 years of prior management experience is typically required.

Proven leadership experience with a moderate to large scope of responsibility is required.