Sr. Quantitative Model Analyst

General Summary: Independently leads and assists activities related to managing and mitigating model risks, by independently performing validations, monitoring governance, and providing guidance and expertise related to models used by the Bank. The Senior Analyst collaborates with various stakeholders to ensure the accuracy, reliability, and regulatory compliance of models used for pricing, risk measurement, and decision-making processes. Principal Duties and Responsibilities: Model Validation and Governance: Independently perform validation and governance efforts related to Bank models. Conduct comprehensive assessments of model accuracy, reliability, and robustness. Independently perform model validation activities, including reviewing model assumptions, methodologies, and implementation. Identify limitations, weaknesses, or gaps in models and propose enhancements or alternative approaches. Model Risk Management Framework: Contribute to the development and enhancement of the bank's model risk management framework, policies, and procedures. Support the implementation and management of model risk management processes, including model inventory, model change management, and ongoing model monitoring. Regulatory Compliance: Coordinate with key stakeholders to ensure compliance with regulatory model risk requirements (FHFA AB 2013-07; FHFA AB 2022-03). Risk Identification and Measurement: Identify and assess the risks associated with financial models, including model errors, biases, and limitations. Model Documentation and Reporting: Prepare comprehensive model validation reports, documenting the validation process, findings, and recommendations. Collaboration and Leadership: Collaborate with key stakeholders to provide guidance and expertise in support of a sound model risk management environment at the Bank. Provide guidance and mentorship to junior members of the model risk management team. Continuous Improvement and Innovation: Stay abreast of emerging trends, industry best practices, and technological advancements in model risk management. Identify opportunities for process optimization, automation, and efficiency gains within the model risk management function and ERM department. Performs additional duties as requested by management.