At Bank of the West, our people are having a positive impact on the world. We’re investing where we feel we can make the most impact, like advancing diversity and women entrepreneurship programs, financing for more small businesses, and promoting programs for sustainable energy. From our locations across the U.S., Bank of the West is taking action to help protect the planet, improve people’s lives, and strengthen communities. We are part of BNP Paribas, a global leader supporting the UN Sustainable Development Goals (SDGs). Yes, we’re a bank, but as the bank for a changing world, we are continually seeking to improve the ways we help our customers, while contributing to more sustainable and equitable growth.
Quantitative models support and underlie many of the most important processes and decision-making functions at Bank of the West, including credit review, risk forecasting and asset/liability management. To manage this risk, the Bank needs to periodically validate over 100 models, for risk management and regulatory compliance purposes. Model validation is responsible for independently conducting quantitative analytics and complex modeling projects; validate various models built to assess and quantify broad financial risk, market risk, operational risk, interest rate risk and other complex econometric capital and stress testing models; examines conceptual soundness of models being validated; reviews and effectively challenges the underlying assumptions, theory, empirical evidence and limitations of the model being validated; conducts thorough testing and provides critical review of conceptual and performance aspects of the model; writes model validation reports describing the results of validation analyses; interfaces with model stakeholders throughout the validation process; interacts with regulators and internal audit to discuss justification and reasoning behind validation findings. This is an entry level position within the Model Validation job family.
Other Job Duties
- 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.
- Expertise with loss forecasting, stress testing, credit score cards, Basel II
- Strong quantitative skills in such areas as econometrics, statistics, hazard modeling and time series analysis
- Experience working with large data sets
- SAS experience desirable
- Performs other duties as assigned.
- Requires advanced knowledge of job area typically obtained through advanced education combined with experience.
- May have practical knowledge of project management.
- Requires 5 years minimum prior relevant experience.
Equal Employment Opportunity Policy
- Bachelor's Degree a Quantitative field
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.
Primary Location: United States-Arizona-TempeJob Type: Full-timeJob: Risk Management