Quantitative Model Risk Validator

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

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.