The Model Validator is responsible for developing and administering the model validation program concerning regulatory guidelines, requirements and expectations set forth in the Model Risk Management (MRM) guidance and policy. The Model Validator will perform reviews of models evaluating conceptual soundness, performance, limitations, assumptions, methodology, and data analysis. This position requires strong quantitative and qualitative abilities along with strong verbal and written communication. The Model Validator also uses MRM knowledge to play an active role in performing governance and independent validation of models, including but not limited to credit risk, market risk, liquidity risk, valuation, and stress testing.
About Crescent Bank:
Crescent Bank began in 1991 as a small New Orleans based community bank. Today, Crescent Bank has a presence nation-wide and is on a mission to leverage technology to provide auto lending and savings access to consumers who may not be served by other traditional banking products.
Crescent Bank prioritizes employee growth and advancement- both as employees and as individuals- through our core values and through the benefits we offer.
Our Core Values include: Be a Team Player, Continuously Improve, Do the Right Thing, Put the Customer First, & Take Ownership
We are proud to offer the following key benefits:
Workplace flexibility for eligible positions
All the insurance programs you’d expect- health, dental, vision, life, disability, + more
Multiple types of paid time off
Retirement program with company contribution
Paid parental Leave
Award-winning Wellness programs
Tuition Reimbursement
Payroll on Demand- access your pay when you need it most.
Duties and Responsibilities:
Lead or perform independent model validations and effective challenge for models such as credit loss, stress testing, and capital planning domains to assess fit for intended use, conceptual soundness, mathematical theory and construct, data/assumptions, implementation and output reasonableness.
Assess and quantify model risk due to model limitations to inform stakeholders of their risk profile and development of compensating controls.
Evaluate other model controls such as model performance tracking, change management, access control, and documentation
Present model validation findings to senior management and supervisory authorities.
Evaluate remediation activities for outstanding validation findings including analytical evaluation of residual risk.
Participate in model risk management framework improvement and optimization.
Produce standardized model validation reports, analytical reports and presentations for senior management, executive committee members and regulators.
Proactively identify emerging model risk issues impacting the Company and communicate to managers and model developers.
Interpret model validation test results, establish required action plans, provide value added recommendations to model owners/developers, and track the progress of action plans/projects.
Manage stakeholder interaction with model developers and business owners during the model lifecycle.
Represent the bank in interactions with regulatory agencies, as required.
Additional Information:
Bachelor’s degree in Statistics, Economics, Finance, Physics, Math, or Engineering required with 3+ years of relevant experience. Master’s or PhD degree preferred.
Advanced knowledge and experience of applied statistical methodologies including least square regression, panel regression, logistic regression, time series analysis and forecasting, survival analysis, machine learning techniques, categorical data analysis and limited dependent variable regression.
Experience in data manipulation, data analysis and statistical modeling in large and complex data with great proficiency in SAS, SAS/E-Miner, SQL, Python, R, Angoss and other analytical tools.
Hands-on working experience in Model Risk Management (MRM), Enterprise Risk Management, focusing on Financial and Portfolio Analytics, Comprehensive Capital Analysis and Review (CCAR), Loss Forecasting, Origination/Account Management Scorecards and Marketing modeling, production and ad hoc reporting
Hands-on experience in big data processing, data visualization, and machine learning modeling.
Excellent written and verbal communication skills with a focus on detailed, concise and clear technical writing.
Possess a thorough understanding of the risk drivers of the models and their applications in estimating default and prepayment risk and potential losses.
Proven ability to validate existing models through identifying model weaknesses, data quality, and methodological soundness.
Strong quantitative, analytical, data intuition, problem-solving skills and proficiency in data analytic and statistical techniques.
Strong knowledge and proficiency in extraction and analysis of data from a wide variety of financial systems, leveraging data analysis tools, SAS, Excel, Access and/or Microsoft SQL.
Strong communication skills with the ability to find practical solutions to challenging problems.
Ability to thrive on multiple projects/tasks at one time. Must be detail-oriented and enjoy aspects of statistics, finance analytics and report writing.
The estimated salary listed online for this job posting is not provided by Crescent Bank. Crescent Bank offers competitive salary commensurate with experience.
