Overview

Job Family: Risk

Monitors activities to minimize the company’s exposure to risk. Activities may include quantitative analysis, risk identification and remediation. Represents or supports the reputation of the company to minimize compliance and regulatory risk by resolving issues and ensuring adherence to company and legal standards. Responsible for ensuring that all of the company’s activities adhere to the necessary rules and regulations, and that the company complies with legal/regulatory statutes and jurisdictions.

Job Function: Risk Management

Ensures adherence to the policies and procedures established by the company. Manages policy, standard definition and monitoring of policy, standard implementation, ensuring harmonization and consistency of risk policies. Monitors and manages risk/exposure and compliance with the company’s policies. Identifies, manages and reports on the company’s risk areas. Evaluates the adequacy and effectiveness of data, document retention, and monitors systems.

Summary of Responsibilities:

The Associate, Risk Modeling is responsible for executing model risk management activities consistent with the enterprise model risk management framework, industry best-practice and regulatory guidance.

Essential Functions:

  • Executes model risk management activities consistent with the enterprise model risk management framework, industry best-practice and regulatory guidance.
  • Assesses risk model conceptual soundness.
  • Evaluates model assumptions and data integrity.
  • Tests models numerical, statistical, and computational accuracy.
  • Performs outcome analysis.
  • Reviews model governance and control processes.

Other Functions:

  • Acts as a subject matter expert (SME) while providing leadership, guidance, and mentorship to other team members.
  • Other duties as assigned.

Requirements:

  • Education –
    • Bachelor’s Degree: Mathematics, Physics, Statistics or equivalent quantitative field.
    • or equivalent work experience
    • Master’s Degree: Mathematics, Physics, Statistics or equivalent quantitative field.
    • Ph.D.: Mathematics, Physics, Statistics or equivalent quantitative field.
  • Experience –
    • 5-9 years
  • Skills & Abilities –
    • Advanced knowledge of model risk management best practices and how to implement them.
    • Advanced quantitative skills.
    • Demonstrated practical modeling experience.
    • Detail orientated with the ability to also understand overall strategy.
    • Ability to multi-task and meet strict deadlines.
    • Ability to adjust to new developments/changing circumstances.
    • Ability to lead, influence and direct peers, subordinates and management.
    • Ability to convey a sense or urgency and drive.
    • Ability to build and foster internal relationships.
    • Ability to analyze risk and design efficient control practices to minimize risk.
    • Strong critical thinking skills with the ability to be adept in identifying and resolving complex risk management problems.
    • Strong written and verbal communication skills.
    • Strong analytical, problem solving and critical thinking skills.
    • Strong project management skills.

Competencies:

  • Collaboration – Relationship Management:
    • Proficient – Applying and Executing
      • Knows who to reach out to inside and outside of one’s team to get work done
      • Takes action to enhance working relationships needed to achieve seamless work flow
      •  

  • Collaboration – Teamwork:
    • Proficient – Applying and Executing
      • Creates a good working environment in the team; works towards shared goals contributing ideas and accepting change
      • Provides assistance and coaches less experienced team members
      •  

  • Execution – Accountability:
    • Proficient – Applying and Executing
      • Follows through to meet commitments to others
      • Takes responsibility for achieving strong results, despite balancing multiple complex demands
      •  

  • Influence – Information Sharing:
    • Proficient – Applying and Executing
      • Uses information and data effectively to support a position and present a rational case
      •  

  • Influence – Two-way communication:
    • Proficient – Applying and Executing
      • Communicates in a timely and straightforward manner
      • Probes for additional information, clarifies assumptions and confirms agreed-upon actions
      • Keeps everyone involved informed about progress and issues
      •  

  • Risk Business Acumen – Industry Acumen:
    • Proficient – Applying and Executing
      • Stays current with industry and regulatory trends and emerging risk issues
      • Has good understanding of current market and competitive landscape that the organization operates within
      •  

  • Risk Management – Knowledge of Risk Management Policies, Regulations, Processes and Procedures:
    • Proficient – Applying and Executing
      • Executes risk management process and procedures without management direction, and demonstrates awareness of expected results
      • Knows the relationship and impact of actions and results
      • Has an understanding of regulations impacting area supported
      •  

  • Risk Management – Risk and Compliance Adherence:
    • Proficient – Applying and Executing
      • Communicates the importance and benefits of risk management to counterparts
      • Displays natural skepticism and curiosity to question the status quo and uncover issues
      • Adheres to a good root cause analysis process
      •  

Working Conditions:

  • Frequently: Minimal physical effort such as sitting, standing, and walking.
  • Occasional moving and lifting of equipment and furniture is required to support onsite and offsite meeting setup and teardown.
  • Physically capable of lifting up to fifty pounds, able to bend, kneel, climb ladders.

Employer’s Rights:

  • This job description does not list all the duties of the job.  You may be asked by your supervisors or managers to perform other duties.  You will be evaluated in part based upon your performance of the tasks listed in this job description.
  • The employer has the right to revise this job description at any time.  This job description is not a contract for employment, and either you or the employer may terminate employment at any time, for any reason.