Quantitative Model Risk Validation Analyst

Busey Bank; Orlando (FL); On-site; USD 92,000 - 100,000; Full time

Job summary

An established industry player is seeking a Quantitative Model Risk Analyst to lead model validation efforts and ensure compliance with regulatory standards. This role is pivotal in enhancing profitability by providing expert guidance on risk mitigation and model development. The ideal candidate will have a strong background in economics or finance, coupled with at least five years of validation experience. Join a dynamic team focused on maintaining high standards and fostering collaboration across departments. Enjoy a competitive salary and a comprehensive benefits package that promotes well-being and professional growth.

Benefits

401(k) match

Profit sharing

Stock purchase plans

Paid time off

Health benefits

Insurance

Wellness incentives

Qualifications

• 5+ years of validation experience in a regulated financial institution.
• Proficiency in R or Python for programming tasks.
• Strong understanding of capital and credit risks.

Responsibilities

• Lead independent reviews of quantitative and qualitative models.
• Coordinate internal and external validation activities.
• Generate reports on validation activities and findings.

Skills

Model Validation

Risk Mitigation

Communication Skills

Programming in R

Programming in Python

Financial Acumen

Organizational Skills

Education

Bachelor's Degree in Economics

Bachelor's Degree in Math

Bachelor's Degree in Statistics

Bachelor's Degree in Finance

Tools

Microsoft Office

Archer GRC

Job description

Position Summary

Busey Bank, a growing financial institution with over 150 years of history, operates across Illinois, Kansas, Missouri, Indiana, Texas, Colorado, Oklahoma, Arizona, and Florida. We are seeking a Quantitative Model Risk Analyst responsible for leading the company's model validation and review processes. The role involves ensuring models are conceptually sound, compliant with internal policies, and meet regulatory standards. You will also provide guidance to stakeholders to mitigate model risks and enhance profitability, fostering strong relationships across the organization.

Duties & Responsibilities

1. Lead independent reviews of quantitative and qualitative models.
2. Develop and manage validation schedules to ensure timely reviews and validations, especially after significant model changes.
3. Coordinate internal and external validation activities, including scope planning, communication, and reporting.
4. Perform independent validations by reviewing model appropriateness, assumptions, testing, efficiency, monitoring plans, and documentation. Report findings clearly and succinctly.
5. Engage with vendors for validation scope, review vendor reports, and facilitate third-party validations when necessary.
6. Provide expertise and guidance on risk mitigation, model development, and monitoring, including Key Risk Indicators.
7. Review periodic submissions for different model tiers to ensure ongoing performance and monitoring.
8. Generate reports on validation activities, findings, and risk indicators for governance bodies.
9. Assist in remediating findings and deliver documentation to management, auditors, and regulators as needed.
10. Maintain and update model documentation and validation procedures, aligning with industry best practices and regulatory changes.
11. Participate in industry calls to stay informed on regulatory and industry developments.
12. Collaborate with Model Risk Governance on risk assessments and procedural improvements.
13. Contribute to or lead special projects to enhance the Model Risk Management Program.

Education & Experience

Required qualifications include a Bachelor's Degree in Economics, Math, Statistics, Finance, or related fields, with at least five years of relevant validation experience in a regulated financial institution. Proficiency in Microsoft Office, programming skills in R or Python, experience with Archer GRC platform, and strong financial acumen are essential. Knowledge of capital, credit, interest rate, liquidity risks, and regulatory requirements like SR 11-7, FDIC FIL 22-2017 is also necessary.

Skills & Abilities

• Ability to work independently and collaboratively.
• Excellent communication, organizational, and interpersonal skills.
• Customer service orientation aligned with Busey's service standards.
• Technical expertise relevant to the role.
• Responsible and professional conduct contributing to organizational goals.

Benefits & Compensation

The offered salary ranges from $92,000 to $100,000 annually, based on experience and qualifications. The role may include bonuses or incentives. Busey offers a comprehensive Total Rewards package, including 401(k) match, profit sharing, stock purchase plans, paid time off, health benefits, insurance, wellness incentives, and more. Visit Busey Total Rewards for details.

Equal Opportunity & Unsolicited Resumes

Busey is committed to diversity and inclusion and is an Equal Opportunity Employer. We do not accept unsolicited resumes without a formal recruitment agreement. Please refer to our careers page for more information.