Quantitative Model Risk Analyst

Flagstar Bank; Hicksville (NY); On-site; USD 59,000 - 107,000; Full time

Benefits offered by this job

Medical insurance

Dental insurance

Vision insurance

Life insurance

Disability insurance

Comprehensive leave program

Job summary

Flagstar Bank in Hicksville, NY seeks a Quantitative Model Risk Analyst to support the bank-wide model risk management policy, review complex models, documentation, and model performance. You will prepare validation reports, make recommendations, and track ongoing model risk issues.

The role requires collaboration with analysts, model owners, risk management teams and auditors, and the ability to analyze problems, back test, and recalibrate models as needed.

Qualifications

• Undergraduate degree in Business, Finance, Risk Analysis or related field.
• Minimum 2+ years at a financial institution in risk management and/or model risk management.
• Master’s Degree preferred in related field.

Responsibilities

• Performs independent validation of selected models to assess conceptual soundness.
• Replicates model code and reviews documentation, inputs, processing and outputs.
• Develops partnerships with analysts, model owners, business risk teams and auditors.
• Prepares model validation reports and recommendations for design, back testing and recalibration.
• Tracks remediation progress and status for identified deficiencies.
• Assists in developing reporting on remediation and critical data elements.

Skills

Model risk management

Analytical skills

Communication skills

Project management

Stakeholder management

Education

Bachelor's degree in Business, Finance, Risk Analysis or related field

Master’s Degree preferred

Tools

MS Office

Job description

Position Title Quantitative Model Risk Analyst

Location Hicksville, NY 11801

Job Summary

The Quantitative Model Risk Analyst supports the implementation and execution of the Bank-wide model risk management policy. This includes the review of complex models used within the organization, model development documentations, model code, and model performance. The Quantitative Model Risk Analyst prepares written validation reports, makes recommendations, and follows up and tracks ongoing model risk issues.

Job Responsibilities

• Performs independent validation of selected models to assess the conceptual soundness of model design and development, ongoing monitoring, and outcomes analysis.
• Replicates the model code, reviews model development documentation and model inputs, processing, and outputs.
• Develops and maintains effective partnerships with analysts, model owners, business level risk management teams and auditors, internal and external.
• Prepares written model validation reports and provides recommendations for the design, development, back testing, implementation and recalibration of models owned by the model development team.
• Tracks remediation progress and resolution status for identified model deficiencies.
• Assists in the development and maintenance of comprehensive reporting on the deficiencies identified, remediation status, and other critical data elements with respect to remediation.
• Uses independent judgement and discretion to make decisions.
• Analyzes and resolves problems.
• Performs special projects, and additional duties and responsibilities as required.

Job Requirements

Required Qualifications: Undergraduate Degree (4 years or equivalent) Business, Finance, Risk Analysis or related field.

Minimum experience required: 2+ years at a financial institution in risk management and/or model risk management, with a focus on an assigned specialty area such as BSA & Anti‑Money Laundering models, CECL and stress test models, credit risk rating models, asset liability management, treasury and liquidity models, or AI models.

Preferred Qualifications: Education level preferred: Master’s Degree (or Postgraduate equivalent) Business, Finance, Risk Analysis or related field.

Job Competencies

• General knowledge of model lifecycle preferably in a bank or regulatory environment.
• Knowledge of MS Office software including Word, Excel, and PowerPoint, ability to produce charts and graphs in Excel.
• Strong project management and organization skills.
• Strong verbal and written communication skills.
• Strong analytical skills and attention to detail.
• Ability to multi-task and prioritize work appropriately.
• Ability to work with all levels of management and staff across all lines of business in the Bank.
• Ability to work independently and on a team and follow through assignments to completion.
• Ability to meet established deadlines.
• Demonstrates a strong ability to build and maintain effective relationships with stakeholders by communicating clearly, engaging in proactive collaboration, and leveraging cross functional insights.
• Aligns relationship building efforts with enterprise goals to accelerate performance and drive strategic results.
• Builds trusted client relationships, whether internal or external, by identifying needs and delivering tailored solutions to enhance the overall client experience.
• Fosters or supports a positive work culture and productive work environment, displaying importance of effective relationships with customers and stakeholders.

Physical demands (ADA)

No unusual physical exertion is involved.

Flagstar is an Equal Opportunity Employer

We are committed to providing clear and accurate compensation information in accordance with applicable laws. Actual starting base pay will be determined based on location, experience, and other non-discriminatory factors permitted by law. Total compensation may also include variable incentives, bonuses, commissions, or other awards as outlined in the offer of employment.

• medical insurance
• dental insurance
• vision insurance
• life insurance
• disability insurance
• comprehensive leave program

Pay Range $59,312.25 - $106,858.00 Flagstar Bank, N.A. is based in Hicksville, NY, and at December 31, 2025, had $87.5 billion in assets, $60.7 billion in loans, $66 billion in deposits, and $8.1 billion in total stockholder equity. We are a leading regional bank with approximately 340 locations, and strong footholds in the greater New York/New Jersey metropolitan region and in the upper Midwest, along with a significant presence in fast-growing markets in Florida and the West Coast. We are driven by our commitment to partner with our clients to set and reach goals together, helping them to take charge and thrive. Our focus is on four core lines of business that include Personal, Private, Small Business and Corporate & Commercial Banking.

Equal Opportunity Employer For more Information: EEOC_KnowYourRights Member FDIC/Equal Housing Lender