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Job Description Summary
Quantitative models support some of the most important processes and decisions at Bank of the West, including credit review, risk forecasting, asset/liability management, market risk management, and transaction monitoring for anti-money laundering. This position is in the Model Risk Management Group which manages the risk of adverse consequences due to incorrect or misused models. To manage this risk, the Bank needs to validate and periodically monitor over 100 models. Model validation is responsible for reviewing and effectively challenging models including: empirical evidence for model development, model theory, model performance, underlying model assumptions and limitations. Model validators conduct testing and provide critical review of conceptual soundness and model performance. Model validators write reports describing the results of validation and interface with internal stakeholders and regulators to communicate findings of model risk. This is an Analyst position within the Model Validation job family. Salary and title commensurate with qualifications.
Essential Job Functions
- Identify sources of model risk. Thoroughly and comprehensively review all model components and developmental evidence. Responsible for conducting quantitative analytics and complex modeling projects.
- Presents work through formal validation reports, as well as thorough presentation to model owners and senior management. Clearly and concisely document and communicate validation findings.
- Present and effectively support findings to model developers, users and senior management. Develop and prioritize constructive recommendations for model changes or enhancements. Communicates data qualify and completeness concerns to model owners.
- Contribute to three development and promotion of effective model development use and validation practices within the Bank. Develop automated solutions to routine validations in order to gain efficiencies in the validation process.
- Build strong working relationships with key model stakeholders, in particular model developers and users. Facilitate communication between model validation and other stakeholders, including the model owner.
- Maintain a detailed and comprehensive record of each validation project through work papers and other acceptable project artifacts.
- Master or PHD Degree in a quantitative field
- Advanced knowledge of quantitative models obtained through advanced degree (PhD, MS, or MFE) and/or prior work experience.
- Strong quantitative skills and practical experiences in areas such as financial theories, econometrics, statistics, hazard modeling and time series analysis.
- Knowledge of key interest rate and liquidity risk metrics such as NII, EVE, liquidity gap, and FTP desirable
- Strong statistical skills and SAS experience a plus.
- Good writing and verbal communication skills.
Equal Employment Opportunity Policy
Bank of the West is an Equal Opportunity employer and proud to provide equal employment opportunity to all job seekers without regard to any status protected by applicable law. Bank of the West is also an Affirmative Action employer - Minority / Female / Disabled / Veteran.
Bank of the West will consider for employment qualified applicants with criminal histories pursuant to the San Francisco Fair Chance Ordinance subject to the requirements of all state and federal laws and regulations.