Model Risk Analyst III

Coastalbank; United States; Remote; USD 60,000 - 100,000; Full time

Job summary

An innovative financial institution seeks a Model Risk Analyst to enhance its model risk management practices. In this fully remote role, you will facilitate the bank's model risk program, identify and analyze risks, and develop governance policies. This position offers a unique opportunity to work collaboratively with various stakeholders, ensuring compliance with best practices while promoting a strong risk management culture. If you thrive in a dynamic environment and are passionate about improving banking technology, this role is perfect for you.

Qualifications

• 3-5 years of model risk management experience required.
• Experience in a risk management function in banking is essential.

Responsibilities

• Facilitate the Bank’s model risk program and identify risks.
• Develop and maintain model governance policies and procedures.

Skills

Analytical Skills

Problem-Solving

Attention to Detail

Communication Skills

Project Management

Education

Bachelor's Degree

Equivalent Education and Experience

Tools

GRC Tool

Job description

Fully Remote • United States • Enterprise Risk Management

Job Type

Full-time

Description

ABOUT US

Coastal Community Bank is a little bit of banking and a little bit of tech-ing. The people at Coastal don't just help people with their banking; they help reshape how banking technology allows and serves EVERYONE. We think and work like entrepreneurs, always moving and constantly improving. We care about each other, are go-getters, work hard, and play hard. If you're someone who thrives on innovation, wants to help others succeed, knows how to think outside the box, and believes that we're all in this together -- you belong here.

WHAT YOU’LL DO AT COASTAL

The Analyst III- Model Risk responsibilities include facilitating the Bank’s model risk program, identification of risks throughout the organization, analyzing risk trends, and managing issues.

Requirements

HOW YOU’LL DO IT

· Assist with development and management of Bank’s model risk program.

· Develop and maintain policies and procedures for model governance, with a focus on appropriate risk mitigation and efficiency.

· Identify potential risks associated with the governance of internal and externally developed models and recommend appropriate risk mitigation strategies.

· Conduct regular reviews and assessments of the governance of models to ensure compliance with best practices.

· Work with model owners to ensure model findings are appropriately managed and resolved in accordance with bank and department policy.

· Develop and deliver training programs to explain the process of model risk management among model users and stakeholders.

· Prepare data and reports for committees and provide regular updates on model risk management activities and issues, resulting in improved communication and transparency with stakeholders.

· Develop and maintain strong relationships with stakeholders such as model owners and internal auditors to ensure that the bank's model risk management practices are in line with bank standards.

· Collaborate with other departments to ensure that model risk management is integrated into the bank's overall risk management framework.

· Contribute to the bank's overall risk culture by promoting a strong risk management mindset

among employees and stakeholders.

· Assist in the evaluation and consult on the remediation of risk deficiencies and risk events including root cause analysis and process improvement recommendations.

· Partner with business units and risk areas as necessary to ensure risk matters and events are properly addressed, documented and reported.

· Assist with development of Key Risk Metrics, data documentation and Board reporting.

· Assist with development, implementation, and ongoing administration of Coastal’s GRC tool.

· Work as appropriate with business unit and division leaders, internal audit, and other risk areas to enhance controls and document procedures.

· Work on ERM team and enterprise projects as assigned.

WHAT YOU’LL BRING

· Strong analytical, problem-solving skills

· Strong attention to detail and accuracy

· Ability to manage multiple tasks/projects and deadlines simultaneously

· Ability to work independently and with a team

· Strong verbal and written communication skills

EDUCATION & EXPERIENCE

· Bachelor's degree and/or equivalent education and experience

· 3-5 years of model risk management experience

· 3-5 years of banking experience in a risk management function

· GRC tool experience preferred

HOW YOU’LL THRIVE AT COASTAL

Be the Best – Communicate effectively, pay close attention to detail, and prioritize your personal development

Be Relentless – Thrive in a goal-oriented environment exercising both patience and persistence. Advocate for our customers and team members and strive to promote the Coastal Difference

Be Un-Bankey – Be a forward thinker with a creative mindset. Build long-lasting relationships promoting the Coastal Difference, built on a foundation of integrity, honesty, and trust

Embrace Gray Thinking – Use sound judgment while decision-making and problem-solving. Think outside the box.

Stay Flexible – Organize and strategize effectively while always being prepared to adapt on the fly. Seek efficiencies for Coastal to work smarter, not harder.

Take Care of Each Other – Understand what it means to be a true team player and have your teammate's back. Practice self-awareness, and build your emotional intelligence

BEING YOU AT COASTAL

Coastal Community Bank is an equal opportunity employer. We are committed to providing a workplace free from discrimination and harassment. All employment decisions are based on merit, qualifications, and business needs. We do not discriminate on the basis of race, color, religion, sex, national origin, age, disability, veteran status, or any other protected status under applicable laws.

PHYSICAL DEMANDS

The physical demands described below are required to perform the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

While performing the duties of this job, the employee must:

· have the ability to sit for extended periods of time

· have the ability to stand for extended periods of time

· have the ability to perform repetitive finger, hand, and arm movement

· have the ability to use electronic office equipment such as a computer keyboard, mouse, ten key, telephone, etc.

· view and read computer screen for extended periods

· occasionally stoop, kneel, crouch, or crawl

· occasionally lift or move up to 10 pounds

OTHER DUTIES

Please note this job description is not designed to cover or contain a comprehensive listing of activities, duties, or responsibilities that are required of the employee for this job. Duties, responsibilities and activities may change at any time with or without notice.