Senior Model Risk Analyst - Remote

UnitedHealth Group; Draper (UT); Remote; Confidential; Full time

Job summary

An innovative organization is seeking a Model Risk Analyst Sr. to enhance its model governance and validation processes. This role involves collaborating with model owners and management to ensure compliance with risk management practices while conducting stress testing and validations across various models. You’ll enjoy the flexibility of remote work as you tackle complex challenges in a supportive environment that values diversity and inclusion. Join a team dedicated to improving health outcomes and advancing equity on a global scale, where your contributions will make a significant impact.

Benefits

Comprehensive benefits package

Incentive and recognition programs

401k contribution

Equity stock purchase

Flexible remote work options

Qualifications

• 5+ years in financial institutions focusing on risk management.
• Experience in developing quantitative models and CECL.

Responsibilities

• Ensure compliance with model risk management procedures.
• Lead internal and external model validations.

Skills

Model Risk Management

Quantitative Modeling

Risk Management Practices

Data Manipulation

Statistical Analysis

Programming (SQL, Python)

Microsoft Excel

Microsoft PowerPoint

Education

Bachelor’s degree in Finance or related field

Professional certification in model risk management

Tools

Power BI

Job description

Optum is a global organization that delivers care, aided by technology to help millions of people live healthier lives. The work you do with our team will directly improve health outcomes by connecting people with the care, pharmacy benefits, data and resources they need to feel their best. Here, you will find a culture guided by diversity and inclusion, talented peers, comprehensive benefits and career development opportunities. Come make an impact on the communities we serve as you help us advance health equity on a global scale. Join us to start Caring. Connecting. Growing together.

The Optum Bank Model Risk Analyst Sr. will be responsible for planning and executing on model governance and model validations in alignment with the Bank’s Model Risk Management (“MRM”) governance framework. The Model Risk Analyst Sr. will work with model owners, other MRM analysts, and upper management to ensure model documentation and risk management processes are implemented appropriately to meet business needs/regulatory obligations and ensure appropriate governance processes are followed and documented in all phases of the model lifecycle: model development, use, calibration/validation, and decommissioning. Responsibilities will also include stress testing, back testing, replication testing and effective challenge of the Bank’s models during internal validations, including but not limited to fixed income, fraud, financial forecasting, capital adequacy, liquidity, credit underwriting and credit loss models.

You’ll enjoy the flexibility to work remotely * from anywhere within the U.S. as you take on some tough challenges.

Primary Responsibilities:

• Ensure model owner compliance with MRM procedures and standards, especially during model implementation and development phases
• Document model policies, methodologies, and processes when appropriate
• Maintain and recommend enhancements to the Model Inventory tracking and Model Risk Assessment for each model
• Validate that appropriate level of documentation is completed for each model or non-model tool
• Lead internal and external model validations
• Stress testing, back testing, replication testing and effective challenge of the Bank’s models during internal validations, including but not limited to fixed income, fraud, financial forecasting, capital adequacy, liquidity, credit underwriting and credit loss models.
• Provide challenge to model implementation, model performance, and model validation processes, ensuring adherence to appropriate MRM standards
• Prepare and present recommendations to the Bank’s Risk Review Council
• Assist the Bank in advancing its Model Risk governance framework and model risk program
• Prepare items for internal audits and regulatory exams

You’ll be rewarded and recognized for your performance in an environment that will challenge you and give you clear direction on what it takes to succeed in your role as well as provide development for other roles you may be interested in.

Required Qualifications:

• Bachelor’s degree in Finance, MIS, Quantitative Finance, Mathematics, Statistics, Economics, Finance, or a related field with a focus on financial modeling
• 5+ years of experience working in a bank or other financial institution with duties focused on documenting policies, standards, and procedures related to implementing sound risk management practices, methods, tools, and processes
• 3+ years in developing and implementing quantitative models, CECL, and internal credit ratings within a financial institution or relevant industry
• 3+ years of experience with Microsoft Office PowerPoint (creating and executing presentations), and Excel (Pivot Tables, VLOOKUP, Advanced Formulas, Formatting, etc.)
• 2+ years of programming experience in high-level programming languages such as SQL, with Python with experience in data manipulation and analysis
• Functional knowledge in meeting regulatory expectations and standards in all phases of the model development, use, and maintenance process

Preferred Qualifications:

• Degree or professional certification in model risk management or related area
• CECL model development, implementation, or execution experience for Commercial Real Estate (CRE) and consumer lending portfolios
• Power BI Experience
• Regulatory experience in assisting with regulatory examinations
• In-depth knowledge of statistical modeling techniques, econometrics, time-series analysis, and risk management principles.
• Proven assertive self-starter, with solid verbal and written skills
• Proven ability to analyze, manage and resolve complex issues with attention to detail
• Proven ability to interpret governmental regulations, regulatory guidance, and manuals, and implement appropriate policies and procedures to ensure compliance

*All employees working remotely will be required to adhere to UnitedHealth Group’s Telecommuter Policy

The salary range for this role is $71,600 to $140,600 annually based on full-time employment. Pay is based on several factors including but not limited to local labor markets, education, work experience, certifications, etc. UnitedHealth Group complies with all minimum wage laws as applicable. In addition to your salary, UnitedHealth Group offers benefits such as, a comprehensive benefits package, incentive and recognition programs, equity stock purchase and 401k contribution (all benefits are subject to eligibility requirements). No matter where or when you begin a career with UnitedHealth Group, you’ll find a far-reaching choice of benefits and incentives.

Application Deadline: This will be posted for a minimum of 2 business days or until a sufficient candidate pool has been collected. Job posting may come down early due to volume of applicants.

At UnitedHealth Group, our mission is to help people live healthier lives and make the health system work better for everyone. We believe everyone–of every race, gender, sexuality, age, location and income–deserves the opportunity to live their healthiest life. Today, however, there are still far too many barriers to good health which are disproportionately experienced by people of color, historically marginalized groups and those with lower incomes. We are committed to mitigating our impact on the environment and enabling and delivering equitable care that addresses health disparities and improves health outcomes — an enterprise priority reflected in our mission.

UnitedHealth Group is an Equal Employment Opportunity employer under applicable law and qualified applicants will receive consideration for employment without regard to race, national origin, religion, age, color, sex, sexual orientation, gender identity, disability, or protected veteran status, or any other characteristic protected by local, state, or federal laws, rules, or regulations.

UnitedHealth Group is a drug - free workplace. Candidates are required to pass a drug test before beginning employment.