Model Performance Monitoring Analyst (Finance)

Position Title
Model Performance Monitoring Analyst

Location
Hicksville, NY 11801

Job Summary

Pay Range: $71,600.00 - $87,947.00 - $132,600.00

Job Responsibilities:

JOB SUMMARY

The Model Performance Monitoring Analyst assists in the review and rating of model performance and controls, including establishing the model ongoing performance monitoring scope, assessment of ongoing monitoring performance results and directing communication with stakeholders. Assists in the implementation of model ongoing performance monitoring (OPM) program including quantitative tests, such as back-testing, benchmarking, and sensitivity analysis. Maintains model ongoing performance monitoring issues within the Archer Issues Management solution, including input of new issues, tracks issue due dates, follows up with model owners regarding remediation status, assists BPOs with the use of the Archer solution, and review of documentation for issue closure. Proactively maintains effective partnerships with the model validation analysts, model owners, business level risk management teams and internal and external auditors to execute sound model risk governance.

JOB RESPONSIBILITIES

• Reports regularly on compliance with the Model Risk Management Framework and Procedures, including model inventory, model issues, and all aspects of the model life cycle.
• Assists in the review and rating of model performance and controls, including establishing the model ongoing performance monitoring scope, assessment of ongoing monitoring performance results and communication with stakeholders.
• Assists with the preparation of portions of the monthly report to the Model Risk Management Committee.
• Maintains model ongoing performance monitoring issues within the Archer Issues Management solution, including input of new issues, tracks issue due dates, follows up with model owners regarding remediation status, assists BPOs with the use of the Archer solution, and review of documentation for issue closure.
• Assists with model inventory management and ensures governance over all phases of the model life cycle, including new model approval, implementation, model change requests, and model decommissioning/retirement.
• Performs quality assurance reviews on key model governance processes such as model inventory, model risk assessments, model validation schedule, and all model data within the Archer solution.
• Provides documentation to requests from various oversight groups, including internal and external auditors and regulators.
• Administers Model Identification Tools and reviews End User Computing tools for model determination.
• Facilitates the centralized report of Model Overlays and Overrides.
• Proactively maintains effective partnerships with the model validation analysts, model owners, business level risk management teams and internal and external auditors to execute sound model risk governance.
• Organizes and maintains all department documentation and reporting in an efficient manner.

ADDITIONAL ACCOUNTABILITIES

• Performs special projects, and additional duties and responsibilities as required.
• Consistently adheres to regulatory and compliance policies and standards linked to the job as listed and complete required compliance trainings. Accountable to maintain compliance with applicable federal, state and local laws and regulations.

JOB REQUIREMENTS

Required Qualifications:

• Education level required: Undergraduate Degree (4 years or equivalent) in Economics, Finance, Mathematics, Computational Finance or related field required.
• Minimum experience required: 1+ Years in experience with financial modeling, model development and/or validation.

Preferred Qualifications:

• Education level preferred: Master's Degree (or Postgraduate equivalent)

Experience and familiarity with SR 11-7 preferred