Model Risk Validation Specialist

UMB Bank; Kansas City (MO); On-site; USD 82,000 - 120,000; Full time

Benefits offered by this job

401(k) matching program

Health insurance

Paid time off

Tuition reimbursement

Wellbeing program

Job summary

UMB Bank is seeking a Model Risk Analyst to support Enterprise Model Risk Management. You will independently validate models, perform quantitative analyses, assess risks, and monitor model performance across the organization. Collaboration with stakeholders and exploration of AI/ML risks are key parts of the role.

The ideal candidate has a statistics/quantitative background and 2+ years in risk management or related fields within financial services.

Qualifications

• Bachelor's degree in statistics/math/finance/economics or equivalent
• 2+ years in risk management processes, model development/validation, consulting, banking, or financial services industry

Responsibilities

• Model Validation: Perform independent model validations, including assessments of conceptual soundness, methodology, assumptions, data quality, implementation, outcomes analysis, and ongoing performance monitoring.
• Quantitative Analysis: Apply statistical, mathematical, and analytical techniques to evaluate model performance, identify limitations, challenge assumptions, and assess potential model weaknesses.
• Model Risk Assessment: Identify, document, and evaluate model risks, limitations, findings, and control weaknesses. Develop clear, risk-based recommendations for remediation and ongoing oversight.
• Model Monitoring throughout the model life cycle: Review ongoing model performance, monitoring metrics, back-testing, sensitivity analysis, and outcomes testing to identify changes in model performance or emerging risks.
• Business Partnership: Collaborate with model owners, developers, business stakeholders, and other risk management teams to understand model purpose, challenge methodologies, communicate findings, and support effective risk mitigation.
• Emerging Technology: Contribute to the assessment and oversight of artificial intelligence, machine learning, and other advanced analytical models, including their assumptions, explainability, data integrity, and associated risks.

Skills

Python

R

SAS

SQL

Critical thinking

Communication

Education

Bachelor's degree in Statistics/Applied Mathematics, Finance, Economics, or equivalent

Tools

Python

Job description

UMB Bank is seeking a Model Risk Analyst to support Enterprise Model Risk Management. You will independently validate models, perform quantitative analyses, assess risks, and monitor model performance across the organization. Collaboration with stakeholders and exploration of AI/ML risks are key parts of the role.

The ideal candidate has a statistics/quantitative background and 2+ years in risk management or related fields within financial services.