Model Risk Analyst: Validation & AI Governance

FIRST INTERNET BANK; Fishers (IN); On-site; USD 94,000 - 130,000; Full time

Benefits offered by this job

Medical, Dental & Vision

401(k) Plan

Paid Time Off

Job summary

First Internet Bank is seeking a Model Risk Analyst to support the Bank’s Model Risk Management program. You will assist with model validation, risk assessment, and governance, providing independent challenge and oversight across the model lifecycle.

The role requires collaboration with stakeholders, data quality evaluation, and preparation of reports for senior management and regulators. MS Office proficiency and familiarity with AI governance are preferred.

Qualifications

• Bachelor’s degree or equivalent work experience required.
• Minimum two years in model risk, model validation, internal audit, or risk management.
• Familiarity with model risk governance, SR 26-2, and AI governance is preferred.
• Baseline knowledge of AI/machine learning concepts preferable.
• Experience developing risk dashboards and executive reporting preferred.
• Experience with Banking as a Service (BaaS) or fintech partnerships preferred.
• Strong interpersonal and project-management skills; able to coordinate many tasks.

Responsibilities

• Assist in independent review and validation of quantitative models for regulatory alignment.
• Evaluate model design, methodology, data quality, and assumptions with effective challenge.
• Analyze information to identify trends, risks, and potential business impacts.
• Monitor AI-related risks and suggest corrective actions including retirement if needed.
• Ensure models and AI-enabled solutions are governed per internal policies and guidance.
• Conduct validation reviews via documentation, interviews, and ongoing monitoring.
• Maintain model/tool inventory, validation docs, and governance records.
• Prepare reports and recommendations for senior management, committees, and regulators.
• Promote model risk awareness through training and governance reporting.

Skills

Model risk

Model validation

Quantitative analysis

Regulatory guidance

AI governance

Stakeholder communication

Project management

Executive reporting

Vendor management

Education

Bachelor’s degree or equivalent

Tools

Microsoft Office

Job description

First Internet Bank is seeking a Model Risk Analyst to support the Bank’s Model Risk Management program. You will assist with model validation, risk assessment, and governance, providing independent challenge and oversight across the model lifecycle.

The role requires collaboration with stakeholders, data quality evaluation, and preparation of reports for senior management and regulators. MS Office proficiency and familiarity with AI governance are preferred.