Model Risk Analyst - Validation

6 days ago

🏈 Alabama – Remote

Although this job is listed in Alabama, this company may be open to hiring remote in other states.

💵 $70k - $116.7k / year

⏰ Full Time

🟢 Junior

🟡 Mid-level

🎲 Risk

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M&T Bank

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M&T Bank is a full-service financial institution offering a variety of banking products and services to individuals, businesses, and commercial clients. It ranks #1 in Customer Satisfaction with Mobile Banking Apps among regional banks, providing options such as personal and business checking accounts, savings accounts, mortgages, lines of credit, and investment services. With a strong commitment to community involvement and customer service, M&T Bank focuses on helping clients achieve their financial goals through tailored solutions and innovative digital banking services.

10,000+ employees

🏦 Banking

💸 Finance

💳 Fintech

📋 Description

• Responsible for review and validation of models used by various groups at M&T for varied purposes, including capital stress testing, risk measurement, pricing and profitability, and management decision-making • Work under the supervision of team lead or manager to validate complex models. • Coordinate the engagement of third parties to perform validation; • Review the results of third-party validation. • Perform validation and analysis of expert judgment or qualitative factors that augment quantitative models. • Review to confirm proper controls and adequate documentation are in place. • Recommend, as necessary, the cessation of reliance on models that are outdated or inaccurate, as determined by analysis. • Prepare reporting for Management to monitor performance of models. • Participate in meetings with model owners to discuss current portfolio tracking and business observations. • Develop knowledge on standard concepts, practices, and procedures within the model validation/risk analytics field. • Mine data from a variety of sources; Utilize technical skills to manage data and efficiently conduct analyses. • Develop ad hoc processes to address efficiency gains that translate into repeatable procedures. • Prepare written summary and analysis of all validation work, using a combination of word processing and presentation software skills. • Adhere to applicable compliance/operational risk controls in accordance with Company or regulatory standards and policies. • Promote an environment that supports diversity and reflects the M&T Bank brand. • Maintain M&T internal control standards, including timely implementation of internal and external audit points together with any issues raised by external regulators as applicable. • Complete other related duties as assigned.

🎯 Requirements

• Bachelor's Degree in Mathematics, Statistics, Business Engineering, Econometrics, or Science-based discipline • 2 years experience in model development or validation • Technical knowledge of advanced software packages used in analytics.

🏖️ Benefits

• Competitive benefits ranging from medical and retirement to forty hours of paid volunteer time each year.