Manager- R&C

Introduction

The Model Validation Analyst is responsible for independently evaluating the conceptual soundness, performance, implementation, and ongoing monitoring of models used across the Bank. The position supports the Bank’s Model Risk Management (MRM) framework by delivering rigorous validations aligned with regulatory requirements, including the U.S. Federal Reserve’s SR 26-2 Guidance on Model Risk Management and applicable OCC and FDIC expectations.

The analyst will assess a range of quantitative and qualitative models, including credit risk, market risk, liquidity risk, stress testing, AML/fraud, capital planning, CECL, pricing, and machine learning models. Working under the supervision of the U.S. team, the successful candidate will partner closely with the Bank’s MRM team, model developers, model owners, business stakeholders, Internal Audit, and regulators to confirm that models are fit for purpose and that key risks are identified and effectively mitigated.

Required Professional and Technical Expertise

Education

• Bachelor's degree in Statistics, Mathematics, Economics, Finance, Data Science, or related quantitative discipline
  
  

Your Role And Responsibilities

• Perform independent validations and reviews of models/EUCs across the model lifecycle under supervision of the US team.
• Evaluate model conceptual design, methodology, assumptions, limitations, data quality, implementation, and usage.
• Conduct quantitative testing, including:
• Outcome analysis
• Benchmarking
• Back-testing
• Sensitivity analysis
• Stress testing
• Performance monitoring reviews
• Review model development documentation and supporting evidence.
• Confirm adherence to internal model risk policies and regulatory guidance.
• Issue validation findings and risk ratings in line with established governance standards.
• Create recommendations for model enhancements and risk mitigation.
• Support efforts to maintain the model inventory, model risk ratings, and issue tracking and remediation.
• Coordinate with the bank MRM team, model developers, business units, risk management teams, and technology teams.
  

Preferred Education

Master's Degree

Required Technical And Professional Expertise

• 2-5 years of experience in model validation, model development, quantitative analytics, data science, risk management, or related fields within banking or financial services, preferably for U.S. clients.
• Familiarity with model risk management frameworks and regulatory expectations.
• Experience validating or developing risk, financial, or machine learning models is preferred.
  
  

Technical Skills

• Strong understanding of statistical and quantitative modeling techniques.
• Knowledge of:
• Regression analysis
• Time series forecasting
• Classification models
• Machine learning methodologies
• Probability and statistical inference
• Proficiency in one or more programming languages:
• Python
• R
• SAS
• SQL
• Experience working with large datasets and analytical tools.
  

Preferred Technical And Professional Experience

• Master's degree in a quantitative field.
• Experience validating:
• Credit risk models
• CECL models
• Stress testing models
• Market risk models
• AML/Fraud models
• Machine learning and AI models
• Experience or familiarity with:
• SR 26-2 Model Risk Management Guidance
• OCC Model Risk Management expectations
• CECL framework
• Basel regulations
• Fair Lending and model governance requirements
• AI/ML model risk considerations
  
  

Competencies

• Strong analytical and critical thinking skills.
• Ability to independently challenge complex quantitative methodologies.
• Excellent written and verbal communication skills.
• Strong report-writing and documentation capabilities.
• Attention to detail and commitment to quality.
• Ability to manage multiple projects and deadlines.
• Strong stakeholder engagement and relationship management skills.
  
  

Key Deliverables

• Comprehensive model validation reports.
• Validation test workpapers and supporting documentation.
• Findings and remediation tracking.
• Model performance monitoring assessments.