Quantitative Model Risk Associate

Job description

Position Title Quantitative Model Risk Associate Location: Hicksville, NY 11801 Job Summary: A Quantitative Model Risk Associate supports the implementation and execution of the Bank-wide model risk management policy. This includes the review of complex models used within the organization, model development documentations, model code, and model performance. Prepares written validation reports, makes recommendations, and follows up and tracks ongoing model risk issues. $22.16 - $41.52 Job Responsibilities: - Performs independent validation of selected models to assess the conceptual soundness of model design and development, ongoing monitoring, and outcomes analysis. - Replicates the model code, reviews model development documentation and model inputs, processing, and outputs. - Develops and maintains effective partnerships with analysts, model owners, business level risk management teams and auditors, internal and external. - Prepares written model validation reports and provides recommendations for the design, development, back testing, implementation and recalibration of models owned by the model development team. - Tracks remediation progress and resolution status for identified...