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Risk and Control Quantitative Specialist
Mitsubishi UFJ Financial Group
Monterey Park, CA, United States
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Description
Discover your opportunity with Mitsubishi UFJ Financial Group (MUFG), the 5th largest financial group in the world with total assets of over $2.4 trillion (as ranked by SNL Financial, April 2016) and 140,000 colleagues in nearly 50 countries. In the U.S., we’re 13,000 strong, working together to positively impact every customer, organization, and community we serve. We achieve this by delivering on our values, putting people first, fostering long-term relationships built on honesty and mutual understanding, and inspiring the best in each other. This is all part of our inclusive, high-performing culture supported by Total Rewards that include our cash balance pension plan. Join a team that’s working to fulfill its vision to be the world’s most trusted financial group.
Job Summary:
Reporting to the Operational Risk Workstream Lead, the Risk & Controls Quantitative Specialist will have primary responsibility for the Internal Controls Framework for all OpRisk Models and Methodologies. This would include – for stress testing models and economic capital methodologies – the evaluation and testing of key controls, construction of Key Performance Indicators, conducting risk assessments, building control testing plans, and maintaining internal controls framework documentation. Responsibilities also include conducting data analysis using statistical methods, as well as participating in ideation activities with other members of the modeling team to improve existing controls and address modeling process flow deficiencies. Also, the design and implementation of escalation protocols within the bank to address breaches of any/all related risk metrics.
Major Responsibilities:
Risks & Controls
• Provide assessments, appropriate recommendations, and implementation for constructing and improving the governance process in the bank’s accomplishment of the objective of communicating risk and control information to appropriate areas of the organization for OpRisk models and methodologies
• Evaluate risk exposures relating to all aspects of the bank’s operational risk process flows for quantitative models and methodologies
• Develop risk reduction strategies and control activities for implementation of operational risk stress test forecast models, including maintaining and updating controls
• Develop and/refine Key Performance Indicators, and associated tolerance levels
• Take overall responsibility for the maintenance and improvement of the existing Internal Controls Framework for Operational Risk Models and Methodologies
• Identify and address over-control and under-control in the operational risk modeling control portfolio
• Determine, document, and evaluate the consequences of inadequate control execution
• Evaluate the adequacy of control design and test for control effectiveness, with proper supporting documentation.
• Design an overall paradigm for testing of internal controls
• establish escalation protocols for capturing and reporting risk issues – to include breaches of KPIs and any other risk appetite metrics
• Write/maintain documentation
• Other professional duties as assigned
Data Analysis – in Excel and/or SAS
• Conduct and review correlation analyses
• Generate descriptive statistics and analyze results
• Interpret various measures of central tendency and measures of dispersion of loss data sets
• Conduct null hypothesis significance tests
• Conduct elementary regression analyses
• Calculate model error using algebraic techniques
• Implement probabilistic techniques; such as random sampling and bootstrapping
• Construct and interpret confidence intervals for loss projections
Qualifications
• At least two years previous experience working with risk assessments and internal controls
• Internal Audit experience is preferred, but not required
• CIA® designation a plus
• ability to conduct a thorough risk identification process (annually) for CCAR and OpRisk Economic Capital processes and activities
• Knowledge of SAS is a plus; not required
• Strong data analytic and/or statistical skills required
• Experience within the financial services industry is a plus (not required).
• Should be an advanced user of Microsoft Excel
• Experience working with RCSAs and/or OpRisk Scenario Analysis preferred
• Must have good verbal and written communication skills.
The above statements are intended to describe the general nature and level of work being performed. They are not intended to be construed as an exhaustive list of all responsibilities duties and skills required of personnel so classified.
We are proud to be an Equal Opportunity / Affirmative Action Employer and committed to leveraging the diverse backgrounds, perspectives, and experience of our workforce to create opportunities for our colleagues and our business. We do not discriminate in employment decisions on the basis of any protected category.
A conviction is not an absolute bar to employment. Factors such as the age of the offense, evidence of rehabilitation, seriousness of violation, and job relatedness are considered in all employment decisions. Additionally, it's the bank's policy to only inquire into a candidate's criminal history after an offer has been made. Federal law prohibits banks from employing individuals who have been convicted of, or received a pretrial diversion for, certain offenses.