Quantitative Model Risk Analyst Sr.

Flagstar Bank; Hicksville (NY); On-site; USD 75,000 - 132,000; Full time

Job summary

Flagstar Bank in Hicksville, NY seeks a Senior Quantitative Model Risk Analyst to oversee enterprise-wide validation of high-impact models. You will assess design, data integrity, and performance metrics, then document findings and remediate issues.

The role requires a Master’s degree in a quantitative field and 6+ years in risk or model risk management, with strong statistics, programming, and communication abilities to engage with governance teams and stakeholders.

Qualifications

• Master's degree in Economics, Computational Finance, Statistics, Applied Mathematics, or related field.
• 6+ years experience at a financial institution in risk management and/or model risk management with AML focus.
• Knowledge of stress testing and banking regulations.
• Strong knowledge of statistics, mathematics and financial risk modeling.
• Ability to produce charts and graphs in Excel.

Responsibilities

• Performs independent validation activities for a portfolio of complex and high-impact models, evaluating conceptual soundness and design.
• Conducts in-depth technical assessments including model code replication or challenge and documentation review.
• Reviews sensitivity analysis and performs independent assessments.
• Authors comprehensive model validation reports with strategic recommendations for robust design and back testing.
• Documents validation discussions with stakeholders and guides remediation efforts.
• Supports enhancement and automation of model risk reporting frameworks.

Skills

Statistics

Mathematics

Financial risk modeling

Project management

Communication

Education

Master's Degree in Economics/Computational Finance/Statistics/Applied Mathematics

Tools

MS Office (Word, Excel, PowerPoint)

Job description

Position Title

Quantitative Model Risk Analyst Sr.

Location

Hicksville, NY 11801

Job Summary

The Quantitative Model Risk Analyst Sr plays a key role in the oversight and execution of the Bank's enterprise-wide model risk management framework. This position is responsible for performing independent validations of complex and high-impact models across various business units, including evaluating model design, development documentation, underlying code, data integrity, and performance metrics. The role requires deep technical expertise and strong judgment to assess model risk and compliance with regulatory expectations.

Job Responsibilities

• Performs independent validation activities for a portfolio of complex and high-impact models by critically evaluating the conceptual soundness of model design, development processes, performance monitoring, and outcomes analysis.
• Conducts in-depth technical assessments, including full replication or challenge of model code, assessment of key assumptions and limitations, and provides expert-level review of model documentation, input data quality, processing logic, and output integrity.
• Reviews sensitivity analysis prepared by the model owner and performs independent sensitivity analysis, as applicable.
• Builds and sustains strategic partnerships with model developers, business-line risk teams, and internal and external auditors to promote transparency, model governance, and alignment with regulatory expectations.
• Authors comprehensive model validation reports and offers strategic recommendations to enhance the robustness of model design, back testing practices, implementation procedures, and ongoing recalibration efforts.
• Documents effective challenge sessions with BPOs, model owners, and developers to discuss validation findings, recommendations, and observations.
• Provides practical suggestions to model owners and developers for remediation.
• Validates remediation of model deficiencies, provides subject matter guidance, and communicates via memo.
• Supports the enhancement and automation of model risk reporting frameworks, ensuring clear visibility into model deficiencies, remediation timelines, risk ratings, and other key performance indicators.
• Uses independent judgement and discretion to make decisions.
• Analyzes and resolves problems.
• Performs special projects, and additional duties and responsibilities as required.
• Consistently adheres to regulatory and compliance policies and standards linked to the job as listed and complete required compliance trainings.
• Accountable to maintain compliance with applicable federal, state and local laws and regulations.

Job Requirements

• Education level required: Master's Degree (or Postgraduate equivalent) in Economics, Computational Finance, Statistics, Applied Mathematics, or related field.
• Minimum experience required: 6+ Years experience at a financial institution, specifically in risk management and/or model risk management with a focus on BSA/ Anti-Money Laundering (AML) Models.
• Knowledge of stress testing and banking regulations.
• Excellent knowledge of statistics, mathematics and financial risk modeling.
• 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

Physical demands (ADA): No unusual physical exertion is involved.

Company Overview

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.

Flagstar provides teammates access to a variety of benefits including medical, dental, vision, life, and disability insurance, as well as a comprehensive leave program.

Pay Range $75,409.50 - $132,108.00

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

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