Model Risk Valid Analyst Senior - City National Bank
San Francisco, CA
About the Job
*MODEL RISK VALID ANALYST SENIOR*
WHAT IS THE OPPORTUNITY?
Responsible for independent model validations, including: reviewing model documentation for completeness, assessing the suitability of models for their intended purposes, performing stress testing and other sensitivity analysis, reviewing and testing data inputs and outputs, and making recommendations for improvements. Assist in several model governance activities in business areas including regulatory capital stress testing (CCAR and Advanced Approaches), CECL, etc.. This position will work collaboratively with Enterprise Model Risk Management teams and will report to Manager of CNB Model Risk Management Group.
What you will do
* Lead in reviews of bank-wide risk and capital models, including models for CCAR stress testing of capital resources, operational risk, liquidity stress models, credit risk and ALM models and qualitative methodologies.
* Evaluate conceptual soundness of model specifications; reasonableness of assumptions and reliability of inputs; completeness of testing performed to support the correctness of the implementation; robustness of numerical aspects; suitability and comprehensiveness of performance metrics and risk measures associated with use of model.
* Perform independent validation and testing in accordance with Model Risk Management Policy and Model Validation Standards.
* Assess and measure the potential impact of model limitations, parameter estimation error or deviations from model assumptions; compare model outputs with empirical evidence and/or outputs from model benchmarks.
* Document and present observations to manager of the Model Risk Management Unit and to model owners and users, recommend management action plans, and track remediation progress.
* Evaluate and monitor model performance reports on an on-going basis to ensure models remain valid, as well as contribute in the bank-wide model risk and control assessment.
* Work with model risk governance analyst to report and register model validation results and documentation.
* Provide on demand support during the regulatory exams on model risk management and periodic reviews performed by the Internal Audit.
* In addition, will support the creation and maintenance of the enterprise-wide model inventory, model validation standards, and model risk rating.
*Must-Have
* Master's Degree
* Minimum 5 years of quantitative modeling experience
* Minimum 3 years of experience managing quantitative modeling teams
* Minimum 3 years of experience with analytical tools, such as Python, MATLAB, SQL, etc
*Skills and Knowledge*
* Experience in Model validation, development or similar experience within an independent model validation function and/or risk management.
* Hands-on experience of risk and financial modelling is desirable, but regardless of experience all candidates should be able to demonstrate an understanding of valuation modelling of financial and bank focused products.
* Experience in data management and analysis preferred
* Programming experience with software applications such as R, SQL, VBA, Python
* Extensive knowledge and experience with various models – Market Risk, Operational Risk, Credit Risk, PPNR forecasting models, etc and analysis tools including Excel, EViews, or Stata applications preferred
* Advanced degree in finance, economics, statistics or related field (Masters preferred). Industry certifications a plus (e.g., CFA, FRM)
* Proven track record of strong technical model development, model management, and/or model oversight in one or more of the following areas: credit risk management, market / interest rate risk management, economic capital estimation, and valuation.
* Proven knowledge of banking systems and processes, risk management methodologies, and familiar with Model validation function.
* Knowledgeable about model risk management and associated regulatory requirements such as OCC 2011-12, Basel II, SR 15-18/19.
* Strong project management capabilities.
* Advanced Excel skills with ability to apply and review formulas and functions, along with extensive knowledge with the suite of MS Office applications.
* Demonstrated ability to think critically and facilitate change through collaborative effort.
* Self-motivation, discipline, task focus, the ability to structure and present work and a proven record of delivering high quality results within strict deadlines.
* Strong interpersonal, verbal and technical writing skills
*Compensation*
Starting base salary: $101,231 - $172,355 per year. Exact compensation may vary based on skills, experience, and location. This job is eligible for bonus and/or commissions.
To be considered for this position you must meet at least these basic qualifications*
The preceding job description has been designed to indicate the general nature and level of work performed by employees within this classification. It is not designed to contain or be interpreted as a comprehensive inventory of all duties, responsibilities, and qualifications required of employees assigned to this job.
*Benefits and Perks*
At City National, we strive to be the best at whatever we do, including the benefits and perks we offer our colleagues. Get an inside look at our [ Benefits and Perks](https://image.emails.cnb.com/lib/fe5e15707c640c78771c/m/10/cbedd856-c2fc-491b-a625-3ab7a0fd9a65.pdf).
ABOUT CITY NATIONAL
City National Bank, a subsidiary of Royal Bank of Canada, is the largest bank headquartered in Los Angeles with $92.03 billion in assets as of April 30, 2024. Founded in 1954, City National provides personalized banking, investment and trust services in select markets including Los Angeles, Orange County, San Diego, the San Francisco Bay Area, New York City, Nashville, Atlanta, Delaware, Las Vegas, Washington D.C. and Miami.* In addition, the company and its investment affiliates manage or administer $96.83 billion in client investment assets. City National is dedicated to strengthening communities, and in 2023 alone, the company made more than $11 million in charitable contributions to nonprofits that support the communities it serves.
*City National Bank does business in Miami and the state of Florida as CN Bank.
For more information about City National, visit [cnb.com](https://www.cnb.com/).
*EQUAL OPPORTUNITY EMPLOYER & REASONABLE ACCOMMODATION*
City National Bank is an equal opportunity employer committed to promoting and maintaining a diverse, equitable and inclusive working environment where differences are valued and encouraged. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, disability, veteran status or any other basis protected by the laws or regulations in the locations where we operate or in our Code of Conduct. [READ MORE](https://image.emails.cnb.com/lib/fe5e15707c640c78771c/m/1/159726e0-aeb1-4058-9052-d7a2d69626b8.pdf)
If you are a qualified individual with a disability or a disabled veteran, you have the right to request a reasonable accommodation for any part of the employment process. Please contact us via [email](mailto:TalentAcquisition@cnb.com) or leave a message at (213) 673-9139. These contact methods are dedicated to applicants whose disability prevents them from successfully applying online. Only messages left for this purpose will be returned. Responses may take up to two business days.
WHAT IS THE OPPORTUNITY?
Responsible for independent model validations, including: reviewing model documentation for completeness, assessing the suitability of models for their intended purposes, performing stress testing and other sensitivity analysis, reviewing and testing data inputs and outputs, and making recommendations for improvements. Assist in several model governance activities in business areas including regulatory capital stress testing (CCAR and Advanced Approaches), CECL, etc.. This position will work collaboratively with Enterprise Model Risk Management teams and will report to Manager of CNB Model Risk Management Group.
What you will do
* Lead in reviews of bank-wide risk and capital models, including models for CCAR stress testing of capital resources, operational risk, liquidity stress models, credit risk and ALM models and qualitative methodologies.
* Evaluate conceptual soundness of model specifications; reasonableness of assumptions and reliability of inputs; completeness of testing performed to support the correctness of the implementation; robustness of numerical aspects; suitability and comprehensiveness of performance metrics and risk measures associated with use of model.
* Perform independent validation and testing in accordance with Model Risk Management Policy and Model Validation Standards.
* Assess and measure the potential impact of model limitations, parameter estimation error or deviations from model assumptions; compare model outputs with empirical evidence and/or outputs from model benchmarks.
* Document and present observations to manager of the Model Risk Management Unit and to model owners and users, recommend management action plans, and track remediation progress.
* Evaluate and monitor model performance reports on an on-going basis to ensure models remain valid, as well as contribute in the bank-wide model risk and control assessment.
* Work with model risk governance analyst to report and register model validation results and documentation.
* Provide on demand support during the regulatory exams on model risk management and periodic reviews performed by the Internal Audit.
* In addition, will support the creation and maintenance of the enterprise-wide model inventory, model validation standards, and model risk rating.
*Must-Have
* Master's Degree
* Minimum 5 years of quantitative modeling experience
* Minimum 3 years of experience managing quantitative modeling teams
* Minimum 3 years of experience with analytical tools, such as Python, MATLAB, SQL, etc
*Skills and Knowledge*
* Experience in Model validation, development or similar experience within an independent model validation function and/or risk management.
* Hands-on experience of risk and financial modelling is desirable, but regardless of experience all candidates should be able to demonstrate an understanding of valuation modelling of financial and bank focused products.
* Experience in data management and analysis preferred
* Programming experience with software applications such as R, SQL, VBA, Python
* Extensive knowledge and experience with various models – Market Risk, Operational Risk, Credit Risk, PPNR forecasting models, etc and analysis tools including Excel, EViews, or Stata applications preferred
* Advanced degree in finance, economics, statistics or related field (Masters preferred). Industry certifications a plus (e.g., CFA, FRM)
* Proven track record of strong technical model development, model management, and/or model oversight in one or more of the following areas: credit risk management, market / interest rate risk management, economic capital estimation, and valuation.
* Proven knowledge of banking systems and processes, risk management methodologies, and familiar with Model validation function.
* Knowledgeable about model risk management and associated regulatory requirements such as OCC 2011-12, Basel II, SR 15-18/19.
* Strong project management capabilities.
* Advanced Excel skills with ability to apply and review formulas and functions, along with extensive knowledge with the suite of MS Office applications.
* Demonstrated ability to think critically and facilitate change through collaborative effort.
* Self-motivation, discipline, task focus, the ability to structure and present work and a proven record of delivering high quality results within strict deadlines.
* Strong interpersonal, verbal and technical writing skills
*Compensation*
Starting base salary: $101,231 - $172,355 per year. Exact compensation may vary based on skills, experience, and location. This job is eligible for bonus and/or commissions.
To be considered for this position you must meet at least these basic qualifications*
The preceding job description has been designed to indicate the general nature and level of work performed by employees within this classification. It is not designed to contain or be interpreted as a comprehensive inventory of all duties, responsibilities, and qualifications required of employees assigned to this job.
*Benefits and Perks*
At City National, we strive to be the best at whatever we do, including the benefits and perks we offer our colleagues. Get an inside look at our [ Benefits and Perks](https://image.emails.cnb.com/lib/fe5e15707c640c78771c/m/10/cbedd856-c2fc-491b-a625-3ab7a0fd9a65.pdf).
ABOUT CITY NATIONAL
City National Bank, a subsidiary of Royal Bank of Canada, is the largest bank headquartered in Los Angeles with $92.03 billion in assets as of April 30, 2024. Founded in 1954, City National provides personalized banking, investment and trust services in select markets including Los Angeles, Orange County, San Diego, the San Francisco Bay Area, New York City, Nashville, Atlanta, Delaware, Las Vegas, Washington D.C. and Miami.* In addition, the company and its investment affiliates manage or administer $96.83 billion in client investment assets. City National is dedicated to strengthening communities, and in 2023 alone, the company made more than $11 million in charitable contributions to nonprofits that support the communities it serves.
*City National Bank does business in Miami and the state of Florida as CN Bank.
For more information about City National, visit [cnb.com](https://www.cnb.com/).
*EQUAL OPPORTUNITY EMPLOYER & REASONABLE ACCOMMODATION*
City National Bank is an equal opportunity employer committed to promoting and maintaining a diverse, equitable and inclusive working environment where differences are valued and encouraged. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, disability, veteran status or any other basis protected by the laws or regulations in the locations where we operate or in our Code of Conduct. [READ MORE](https://image.emails.cnb.com/lib/fe5e15707c640c78771c/m/1/159726e0-aeb1-4058-9052-d7a2d69626b8.pdf)
If you are a qualified individual with a disability or a disabled veteran, you have the right to request a reasonable accommodation for any part of the employment process. Please contact us via [email](mailto:TalentAcquisition@cnb.com) or leave a message at (213) 673-9139. These contact methods are dedicated to applicants whose disability prevents them from successfully applying online. Only messages left for this purpose will be returned. Responses may take up to two business days.
Source : City National Bank