This job has expired, please see additional jobs below
Model Validator
Silicon Valley Bank
Santa Clara, CA, United States
Job Details - this job has expired, please see similar jobs below
Description
The Enterprise-wide Risk Management Department (ERM) oversees Corporate Risk Management programs such as model risk, operational risk, and other key risk management activities. The aim of the Model Risk Management (MRM) program is to identify model errors or inappropriate use of models for business decision-making and capital stress testing. Program elements include model validation, ongoing monitoring, model usage & change management. This role reports directly to the Senior Director, Model Risk Management. The Model Validator will perform validation and revalidation of models used across SVBFG. This will include review of modeling assumptions, verification of mathematical formulation, implementation of similar or alternative models, identification of modeling limitations with suggested mitigating controls, assessment of inherent model risk, and documentation of model validation reports to ensure compliance with SR11-7, SR15-18 and SR15-19.
Main Responsibilities
• Review analytics and soundness of models and provide effective challenge on large, complex models
• Validate high-impact economic models (macroeconomic models, HPI, inflation, economic scenario generation)
• Design additional tests that pose effective challenge to internal and vendor models
• Identify and document model deficiencies; communicate findings to model owners and provide feedback on proposed corrections
• Support management by identifying and analyzing risks, developing reporting processes, escalating issues of concern, and providing deliverable dates for specific initiatives
• Contribute to periodic reviews and overall fulfillment of ERM’s Model Risk Management policies, procedures and templates #LI-CO1
Qualifications
• The successful candidate will be a self-starter and need minimal direction from managers in pursuing projects
• Excellent knowledge and understanding of a wide variety of model development and validation statistical techniques covering primarily credit and market risk
• Able to produce high quality written communication, including reviews of models
• Highly organized in terms of documentation and follow through
• M.S. and/or Ph.D. in a quantitative field
• 7-10+ years Model Development experience in progressively complex roles; candidates need to have very hands-on experience developing and validating complex insurance / finance / econometric models
• Prior experience writing model documents (internal tech notes, papers, validation reports or the like)
• Competency in high level programming languages including Matlab, SQL, and VBA preferred; programming is not a must, but fluency in Excel, Matlab, statistical packages is highly preferred.
• Excellent verbal and written communication skills
• Regulatory experience a plus (Familiarity with CCAR / SR11-07 and other similar requirements)