Model Risk Review Specialist II - Huntington National Bank
Chicago, IL
About the Job
Description
The Model Risk Review Specialist II is responsible for independently and collaboratively review and validate models/quantitative frameworks spanning credit, interest rate, market risk, economic capital or capital market valuation, and other models as they arise within the organization. This position is required to provide qualitative and quantitative feedback with support for their review/validation activities to a variety of audiences within the organization, working in partnership with business and model owners/users throughout the organization, and will also perform research and formulate potential remediation plans for any outstanding or potentially critical problems concerning the development, implementation, and usage of the models.
Duties and Responsibilities:
+ Perform model review and validation in a timely manner according to a project plan adhering to corporate policies and meeting regulatory standards.
+ Provide critical analysis and effective thought processes and challenges for models reviewed and validations performed by both internal and external parties.
+ Communicate to quantitative and business audiences through verbal and written presentations describing the results of the review/validation analyses, and be able to recommend remediation strategy to address the findings.
+ Establish and maintain independent model review/ validation thought processes while adhering to overall business and regulatory guidelines.
+ Assist model owners/developers in the compilation of comprehensive model documentation and ongoing maintenance of the documentation.
+ Serve as a key resource on model concepts and assumption change questions including the ability to understand impacts through recommendations.
+ Work closely with business owners/ model users and developers to understand the business context for model use, and facilitate the model approval process.
+ Work with the lines of businesses to identify any modeling gaps, errors or oversights and recommend ways to address these issues.
+ Proactively identify emerging model risk issues impacting the company and communicate to model developers, senior management and the appropriate risk committee.
+ Keep abreast of the latest quantitative strategies through research on solving problems related to credit, interest rate, market risk, economic capital or capital market valuation etc., and ability to translate it through coding using R, MATLAB, SAS, EXCEL, etc.
+ Perform other duties as assigned.
Basic Qualifications:
+ Master's Degree in mathematics, statistics, physics, or econometrics
+ 3 or more year of advanced coursework or project work in quantitative analysis
Preferred Qualifications:
+ Understanding of financial modeling theory and general solutions
+ Experience in Risk Management or a Business Unit of a financial institution working with high impact models in the following risk areas: credit, interest rate, market risk, economic capital or capital market valuation
+ More specifically:
+ Experience in developing or validating models for loss forecasting of residential mortgage, home equity loans, home equity line of credit, indirect auto loans and credit cards, and commercial products such as Commercial and Industrial loans and commercial real estates.
+ Experience in developing or validating score card models for wholesale and/or consumer loan origination.
+ Familiar with related regulatory requirements on model risk management
+ Understanding of statistical concepts and data analysis and demonstrated the ability to apply such concepts
+ Have performed independent research and development when needed to solve problems and the ability to translate that into code
+ Proficiency in statistical software packages (e.g. SAS, 'R', Python etc.), query tools and software, MS Excel
+ Excellent communication skills with the ability to communicate findings clearly and concisely, verbally and in writing
#LI-HYBRID
#LI-MK2
#SRIRISK
#SRITREASURY
#SRIIT
Exempt Status: (Yes = not eligible for overtime pay) (No = eligible for overtime pay)
Yes
Workplace Type:
Hybrid
Huntington is an equal opportunity and affirmative action employer and is committed to providing equal employment opportunities for all regardless of race, color, religion, sex, national origin, age, disability, sexual orientation, veteran status, gender identity and expression, genetic information, or any other basis protected by local, state, or federal law.
Tobacco-Free Hiring Practice: Visit Huntington's Career Web Site for more details.
Agency Statement: Huntington does not accept solicitation from Third Party Recruiters for any position
The Model Risk Review Specialist II is responsible for independently and collaboratively review and validate models/quantitative frameworks spanning credit, interest rate, market risk, economic capital or capital market valuation, and other models as they arise within the organization. This position is required to provide qualitative and quantitative feedback with support for their review/validation activities to a variety of audiences within the organization, working in partnership with business and model owners/users throughout the organization, and will also perform research and formulate potential remediation plans for any outstanding or potentially critical problems concerning the development, implementation, and usage of the models.
Duties and Responsibilities:
+ Perform model review and validation in a timely manner according to a project plan adhering to corporate policies and meeting regulatory standards.
+ Provide critical analysis and effective thought processes and challenges for models reviewed and validations performed by both internal and external parties.
+ Communicate to quantitative and business audiences through verbal and written presentations describing the results of the review/validation analyses, and be able to recommend remediation strategy to address the findings.
+ Establish and maintain independent model review/ validation thought processes while adhering to overall business and regulatory guidelines.
+ Assist model owners/developers in the compilation of comprehensive model documentation and ongoing maintenance of the documentation.
+ Serve as a key resource on model concepts and assumption change questions including the ability to understand impacts through recommendations.
+ Work closely with business owners/ model users and developers to understand the business context for model use, and facilitate the model approval process.
+ Work with the lines of businesses to identify any modeling gaps, errors or oversights and recommend ways to address these issues.
+ Proactively identify emerging model risk issues impacting the company and communicate to model developers, senior management and the appropriate risk committee.
+ Keep abreast of the latest quantitative strategies through research on solving problems related to credit, interest rate, market risk, economic capital or capital market valuation etc., and ability to translate it through coding using R, MATLAB, SAS, EXCEL, etc.
+ Perform other duties as assigned.
Basic Qualifications:
+ Master's Degree in mathematics, statistics, physics, or econometrics
+ 3 or more year of advanced coursework or project work in quantitative analysis
Preferred Qualifications:
+ Understanding of financial modeling theory and general solutions
+ Experience in Risk Management or a Business Unit of a financial institution working with high impact models in the following risk areas: credit, interest rate, market risk, economic capital or capital market valuation
+ More specifically:
+ Experience in developing or validating models for loss forecasting of residential mortgage, home equity loans, home equity line of credit, indirect auto loans and credit cards, and commercial products such as Commercial and Industrial loans and commercial real estates.
+ Experience in developing or validating score card models for wholesale and/or consumer loan origination.
+ Familiar with related regulatory requirements on model risk management
+ Understanding of statistical concepts and data analysis and demonstrated the ability to apply such concepts
+ Have performed independent research and development when needed to solve problems and the ability to translate that into code
+ Proficiency in statistical software packages (e.g. SAS, 'R', Python etc.), query tools and software, MS Excel
+ Excellent communication skills with the ability to communicate findings clearly and concisely, verbally and in writing
#LI-HYBRID
#LI-MK2
#SRIRISK
#SRITREASURY
#SRIIT
Exempt Status: (Yes = not eligible for overtime pay) (No = eligible for overtime pay)
Yes
Workplace Type:
Hybrid
Huntington is an equal opportunity and affirmative action employer and is committed to providing equal employment opportunities for all regardless of race, color, religion, sex, national origin, age, disability, sexual orientation, veteran status, gender identity and expression, genetic information, or any other basis protected by local, state, or federal law.
Tobacco-Free Hiring Practice: Visit Huntington's Career Web Site for more details.
Agency Statement: Huntington does not accept solicitation from Third Party Recruiters for any position
Source : Huntington National Bank