Enable job alerts via email!

Quantitative Model Risk Validation Analyst

Busey Bank

Illinois

On-site

USD 92,000 - 100,000

Full time

30+ days ago

Generate a tailored resume in minutes

Land an interview and earn more. Learn more

Start fresh or import an existing resume

Job summary

Join a forward-thinking financial institution as a Quantitative Model Risk Analyst, where you will lead model validation efforts and ensure compliance with regulatory standards. In this role, you'll collaborate with stakeholders to mitigate risks and enhance profitability, while fostering positive relationships across the organization. Your expertise will contribute to the development of robust risk management practices and the continuous improvement of model validation procedures. This is an exciting opportunity to make a significant impact in a dynamic environment that values diversity and inclusion.

Benefits

401(k) match
Profit sharing
Stock purchase plan
Paid time off
Health benefits
Wellness incentives

Qualifications

  • 5+ years of model validation experience in a regulated financial institution.
  • Proficiency in Microsoft Office and programming skills in R or Python.

Responsibilities

  • Lead independent reviews of quantitative and qualitative models.
  • Develop and maintain validation schedules based on materiality.
  • Generate reports on validation activities and model performance.

Skills

Model Validation
Risk Mitigation
Analytical Thinking
Communication Skills
Programming (R, Python)
Financial Acumen

Education

Bachelor's Degree in Economics, Math, Statistics, Finance

Tools

Microsoft Office
Archer GRC

Job description

Position Summary

Busey Bank, a growing financial institution established over 150 years ago, operates in Illinois, Kansas, Missouri, Indiana, Texas, Colorado, Oklahoma, Arizona, and Florida. As a Quantitative Model Risk Analyst, your primary responsibility will be leading the company's model validation and review engagements, ensuring models are conceptually sound, comply with internal policies, and meet regulatory requirements. You will also provide guidance to stakeholders to reduce model risks and enhance profitability, fostering positive relationships across the organization to proactively manage risks.

Duties & Responsibilities
  1. Lead independent reviews of quantitative and qualitative models.
  2. Develop and maintain validation schedules for models based on materiality and change management.
  3. Coordinate internal and external validation processes, including scope planning, information requests, meetings, and reporting.
  4. Perform independent validation of models, including reviewing appropriateness, challenging assumptions, assessing efficiency, monitoring plans, and documentation.
  5. Engage vendors for third-party validation, including scope negotiation, document review, and report approval.
  6. Provide expertise and guidance on risk mitigation, model development, and monitoring, including Key Risk Indicators.
  7. Review periodic submissions for Tier I, II, and III models to ensure performance consistency.
  8. Generate reports on validation activities, model performance, and risk indicators for governance.
  9. Assist in remediation efforts and deliver documentation to management, auditors, and regulators.
  10. Maintain and improve model documentation and validation procedures.
  11. Participate in industry discussions to stay updated on regulatory and best practices.
  12. Collaborate with Model Risk Governance for risk assessments.
  13. Contribute to policy and procedural documentation, and lead special projects to enhance the Model Risk Management Program.
Education & Experience

Required:

  • Bachelor's Degree in Economics, Math, Statistics, Finance, or related field.
  • Minimum five years of model validation experience in a regulated financial institution.
  • Proficiency in Microsoft Office (Excel, PowerPoint, Word).
  • Intermediate programming skills (e.g., R, Python).
  • Experience with Archer GRC platform.
  • Strong financial and credit acumen.

Preferred:

  • Knowledge of capital, credit, interest rate, and liquidity risks, and CECL regulations.
  • Analytical and strategic thinking with attention to detail.
  • Ability to work independently and in teams.
  • Excellent communication and organizational skills.
  • Customer service orientation aligned with Busey's service standards.
  • Technical expertise relevant to the role.
  • Responsibility and professionalism in conduct.
Benefits & Compensation

Salary is competitive and based on experience, with potential bonuses. The base pay range is $92,000 - $100,000/year. Busey offers a comprehensive Total Rewards package, including 401(k) match, profit sharing, stock purchase plan, paid time off, health benefits, insurance, wellness incentives, and more. Details are available at Busey Total Rewards.

Equal Opportunity

Busey values diversity and inclusion, striving to recruit and retain talented individuals. We are an Equal Opportunity Employer, including Disability/Vets. Learn more at Busey.com/Careers.

Unsolicited Resumes

Busey does not accept fees for resumes from recruiters or agencies without a formal agreement. We consider unsolicited resumes but reserve the right to hire without obligation. Please refrain from contacting associates directly for recruiting inquiries.

Get your free, confidential resume review.
or drag and drop a PDF, DOC, DOCX, ODT, or PAGES file up to 5MB.