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Risk Analyst, Model Risk Management
Prudential Securities
Newark, NJ, United States
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Description
The mission of Enterprise Risk Management (ERM) is to ensure that Prudential has a comprehensive framework for understanding the risks embedded in and across its businesses, so that the company can manage these risks effectively, evaluate current and future risk challenges and opportunities, and enhance shareholder value.
An integral part of the ERM organization is the Model Risk Management Group (MRMG), which includes two teams: (1) Model Risk Management and (2) Model Risk Control Office. The primary objectives of MRMG are to effectively challenge, manage and mitigate model risks, and maintain model inventory, risk assessment and model control standards. This position requires resourcefulness, good judgment, persistence, and the ability to influence others. Typically, someone in this position is responsible for a mixture of long-term initiatives, ad hoc requests and issues, and some ongoing Risk Management responsibilities.
This individual will be responsible for supporting the following:
• Model risk-related reporting to the enterprise, including development and execution of ad hoc and business-as-usual reporting
• Analysis of model inventory and related data, including critical analysis and effective challenge of supporting data
• Development and refinement of model risk-related communications with the enterprise
• Model risk governance technology platform support and enhancement
• Project management support for initiatives, model reviews and BAU activities
• Liaising with model owners to facilitate issue remediation tracking and closure
• Manage the ongoing development and maintenance of model policies, standards, procedures and documentation
• Training stakeholders on the Model Risk Management Framework, including development and execution of training plans
• Be the subject matter expert for Model Risk Management, Operational Risk Management (model-related) and End User Computing Solutions
Qualifications:
• Bachelor’s degree in Business, Finance or related discipline; major/minor combination with an analytical field will be a meaningful differentiator
• 2-5 years’ experience demonstrating analytical skills and the ability to interpret complex data while demonstrating an understanding of the relevant business drivers, preferably in the financial services industry
• Prior experience with and intermediate level skill using databases and other tools for data extraction and reporting
• Demonstrated oral and written communication skills
• High degree of proficiency in Microsoft Excel, Word, Visio, Access and PowerPoint
• Strong organizational skills, resourcefulness and attention to detail along with a true passion for quality and accuracy