Model Risk Analyst – Validation [Multiple Positions Available]

About this role

Title: Model Risk Analyst – Validation [Multiple Positions Available]

Job Location: 345 Main St, Buffalo, NY 14203. Position requires in-office work four (4) days every week.

Job Description: Perform independent validation review of complex financial statistical models with primary focus on Treasury models (including interest rates sensitive, interest rates and currency derivatives models), as well as Fair Lending and general Credit Risk models. Writing quality reports for management review. Preparing materials and leading Effective Challenge presentations of accomplished validations. Supporting MRM model life cycle in relations to reviewing and reporting of IRA, MCA, MCM, MRT. Establishing communication with model owners, model developers, model stakeholders in support of successful model validation process and MRM initiatives. Supporting development of playbook for Validation of Fair Lending Models. Coordinate the engagement of third parties to perform validation. Review the results of third party validation. Perform validation and analysis of expert judgment or qualitative factors that augment quantitative models. Review to confirm proper controls and adequate documentation are in place. Recommend, as necessary, the cessation of reliance on models that are outdated or inaccurate, as determined by analysis. Prepare reporting for Management to monitor performance of models. Participate in meetings with model owners to discuss current portfolio tracking and business observations. Develop knowledge on standard concepts, practices, and procedures within the model validation/risk analytics field. Mine data from a variety of sources. Utilize technical skills to manage data and efficiently conduct analyses. Develop ad hoc processes to address efficiency gains that translate into repeatable procedures. Prepare written summary and analysis of all validation work, using a combination of word processing and presentation software skills. Adhere to applicable compliance/operational risk controls in accordance with Company or regulatory standards and policies. Maintain M&T internal control standards, including timely implementation of internal and external audit points together with any issues raised by external regulators as applicable.

Minimum requirements: Master’s degree (or foreign equivalent) in Financial Mathematics, Mathematics, Statistics, Computer Science, Operation Research, Econometrics, or a related technical field plus three (3) years of experience in the job offered or as a Model Risk Analyst, Quantitative Model Developer, Quantitative Financial Analyst, Statistician, Data Scientist, or Model Validator. The employer will alternatively accept a Bachelor’s degree (or foreign equivalent) in Financial Mathematics, Mathematics, Statistics, Computer Science, Operation Research, Econometrics, or related technical field plus six (6) years of experience in the job offered or as Quantitative Model Developer, Quantitative Financial Analyst, Statistician, Data Scientist, or Model Validator.

Requires three (3) years of experience in each of the following: • Statistical modeling techniques including regression (including linear, logistic, Poisson, lasso, and ridge), machine learning (including tree and XGBoost), and cluster analysis. • Programming skills in Python or SAS. • Work with supervised models (including regressions, boosting, and ensemble learning) and unsupervised algorithms (including clustering and DBSCAN) applied to quantitative risk modeling and data-driven analysis. • Statistical theory, including sampling methods, confidence intervals, and hypothesis testing for evaluating model assumptions and performance. • Programming languages including Python or SAS for statistical modeling, machine learning development, implementation, future engineering and model performance evaluation. • Writing reproducible code. • Data wrangling, automation, and generating analytical reports. • Leveraging SQL and other query languages to query, transform, and preprocess structured and unstructured data for analytical and modeling purposes. • Working with data mining and feature engineering techniques.

Salary: $119,766.00 - $119,766.00 per year

Location Buffalo, New York, United States of America

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