Director, ALM, Market Risk, Model Risk Mgmt (Remote)

First Citizens Bank; Seattle (WA); Remote; USD 170,000 - 215,000; Full time

Job summary

An established industry player is seeking a skilled professional to lead model validation activities in a remote capacity. This role involves managing a team, overseeing model governance, and ensuring the accuracy of validation processes. The ideal candidate will possess extensive experience in quantitative analysis and regression methodologies, with a strong background in financial institutions. This position offers a competitive salary and the opportunity to contribute to significant risk management initiatives. Join a forward-thinking organization committed to excellence and innovation in financial services.

Qualifications

• 8 years of experience in quantitative analysis in finance.
• Expert knowledge of regression methodologies and programming languages.

Responsibilities

• Manage validation activities and oversee model governance.
• Develop partnerships between business units for model risk management.

Skills

Quantitative analysis

Regression methodologies

Loss forecasting

Regulatory capital estimation

Relational databases

SQL

SAS

R

Education

Bachelor's Degree

High School Diploma or GED

Advanced Degree

Job description

Overview

This is a remote role that may only be hired in the following location(s): Washington (WA)

This position manages and executes validation activities associated with risk models. Oversees key model governance activities as well as tactical and operational activities for the MRM Department. Leads a team of associates in evaluating the conceptual soundness of models to determine their limitations and suitability of use. Establishes the scope and necessary testing of validations, providing guidance to associates as necessary on complex issues. Consults with model owners to resolve questions or deficiencies. Responsible for validation scripts and related documentation. Works closely with business partners on stakeholder reporting, the remediation of findings, and other aspects of model validation that support risk management objectives.

Responsibilities

• Validation Oversight - Develops and oversees associates and processes related to model validations, including independent testing and model inventory updates. Manages the assessment of model design and suitability of use. Provides expert, hands-on support to validation activities, resolving complex issues and process inefficiencies. Maintains scripts and other critical documentation.
• Managerial Functions - Establishes and monitors expectations to achieve company and department goals. Makes appropriate changes to team policies, procedures, and efficiencies in order to meet objectives. Manages the performance, training, and evaluation of assigned staff. Maximizes department achievements by providing professional development. Assists senior management with departmental budgeting and management of external consultants and vendors.
• Reporting - Oversees validation reports to ensure the accuracy and completeness of included information. Facilitates stakeholder, auditor, and examiner reporting.
• Collaboration - Develops productive partnerships between business units and teams involved in model risk management activities. Coordinates interactions with model owners during the course of validation. Supports cross-functional business initiatives and risk management needs.

Qualifications

Bachelor's Degree and 8 years of experience in Quantitative analysis in a financial institution and regression methodologies, loss forecasting or regulatory capital estimation

OR

High School Diploma or GED and 12 years of experience in Quantitative analysis in a financial institution and regression methodologies, loss forecasting or regulatory capital estimation

Preferred Education: Advanced Degree

Preferred Area of Study: Economics, Quantitative Finance, Statistics, or related quantitative discipline

Skill(s): Knowledge of regression methodologies, loss forecasting, or regulatory capital estimation, Familiarity with relational databases and SQL, Expert knowledge of SAS, R, or other programming language

The base pay for this position is generally between $170,000.00 and $215,000.00. Actual starting base pay will be determined based on skills, experience, location, and other non-discriminatory factors permitted by law. For some roles, total compensation may also include variable incentives, bonuses, benefits, and/or other awards as outlined in the offer of employment.

Benefits are an integral part of total rewards and First Citizens Bank is committed to providing a competitive, thoughtfully designed and quality benefits program to meet the needs of our associates. More information can be found at https://jobs.firstcitizens.com/benefits.