Senior Model Risk Validation Analyst – Expert Judgement Models

Banco Santander SA; Boston (MA); On-site; USD 67,000 - 140,000; Full time

Job summary

Join an innovative financial services leader as a Senior Model Risk Validation Analyst, where you will play a crucial role in validating models and ensuring compliance with regulatory standards. This position offers the opportunity to engage with diverse teams, enhancing your career while contributing to a proactive risk management culture. You will evaluate model assumptions, prepare validation reports, and advise senior management on model risk. With a focus on continuous learning and development, this role not only supports your professional growth but also impacts millions through innovative financial solutions.

Qualifications

• 3+ years of experience in Model Development or Validation.
• Strong programming skills in R, Python, Matlab, SAS.
• Solid understanding of financial numerical methods.

Responsibilities

• Perform independent validation of models and expert judgement models.
• Conduct robust model validations and assess input data.
• Collaborate with model owners to provide technical guidance.

Skills

R

Python

Matlab

SAS

Regression Analysis

Time Series Analysis

Econometrics

Data Mining

Survival Analysis

Back-Testing

Education

Bachelor’s Degree in Statistics, Mathematics, or Economics

Master's Degree or PhD in relevant quantitative disciplines

Tools

QRM

ADCo

Intex

Job description

Senior Model Risk Validation Analyst – Expert Judgement Models

Apply locations: Boston | Type: Full time | Posted on: Posted 2 Days Ago | Requisition ID: Req1452128 | Country: United States of America

Your Journey Starts Here:

Santander is a global leader and innovator in the financial services industry. We believe our employees are our greatest asset. We focus on fostering an enriching journey that empowers you to explore diverse career opportunities while nurturing your personal growth. We are committed to creating an environment where continuous learning and development are prioritized, enabling you to thrive both professionally and personally. Join us at Santander, where you are supported by a culture of engagement and a commitment to your success.

We Want to Talk to You!

The Difference You Make:

The Senior Model Risk Validation Analyst (Sr. Analyst, Model Risk) will be responsible for performing independent validation of models and expert judgement models used by the bank, in conformance with regulatory guidance on model risk SR11-07. Responsibilities include conducting robust model validations, assessing input data, methodology, outcomes, usage, and related controls and governance. The role involves internal communication with business and model development teams, as well as external interaction with vendors and third-party servicers. Additionally, the individual will handle day-to-day model risk governance activities such as ongoing performance monitoring, remediation of findings, and annual reviews.

• Evaluate model assumptions and weaknesses, prepare validation reports, and recommend corrective actions.
• Conduct validations against established standards and develop benchmark, challenger, and replication models where applicable.
• Advise senior management on model risk, including communication with risk committees, auditors, and regulators.
• Manage resolution of validation findings with model owners and developers.
• Review ongoing model performance and assess overall health within the framework, identifying issues and working with stakeholders to resolve them.
• Collaborate with model owners to understand business context and provide technical guidance.
• Research new modeling trends and approaches to enhance model risk management.

What You Bring:

• Bachelor’s Degree or equivalent in Statistics, Mathematics, Economics, or a related quantitative field. Required.
• Master's Degree or PhD in relevant quantitative disciplines is preferred.
• 3+ years of experience in Model Development, Validation, or Model Risk Management at a bank.
• Programming skills in R, Python, Matlab, SAS, etc.
• Knowledge of advanced quantitative analysis techniques such as regression, time series, econometrics, PCA, data mining, survival analysis, back-testing, and model performance measurement.
• Familiarity with systems like QRM, ADCo, and Intex is highly preferred.
• Solid understanding of financial numerical methods, PDEs, stochastic calculus, and option pricing.
• Strong communication skills and ability to work with senior management and stakeholders.
• Excellent time and stress management skills, self-starter attitude, minimal supervision required.

Certifications: None listed.

Additional Preferred Qualifications: Demonstrated work history through experience, training, military service, or education.

What Else You Need To Know:

The salary range is $67,500 to $140,000 annually, based on skills, experience, and location. Benefits information is available on our website.

Risk Culture: We promote a proactive approach to risk management at all levels.

EEO Statement: Santander is an equal opportunity employer, valuing diversity and encouraging all qualified candidates to apply.

Working Conditions: Primarily sedentary with occasional lifting or moving of light equipment, depending on location.

Employer Rights: This description is not exhaustive and may be revised. Employment may be terminated at any time by either party.

Next Steps: Interested? Please apply. We support an accessible application process and accommodations for disabilities.

The Santander Effect: Our work impacts 140 million lives daily through innovation and adaptation.