The bank for a changing world

Model Validation Consultant




United States-California-San Francisco

Job function

Risk Management



What sets Bank of the West apart from other banks is our team members–they embody the optimistic spirit of the West. There is a spirit here that drives us to do more. Our team of more than 10,000 employees is vital to the success of our Bank. They reflect our modern western values—straightforward, entrepreneurial and optimistic. We seek to create a corporate culture that fosters and rewards excellence, encourages creative thinking and respects diversity – an environment where team members are engaged, supportive of one another and enthusiastic about serving our customers. Bank of the West offers the stability of a company that has a 135 year history and is part of BNP Paribas, a European leader in global banking and financial services and one of the 6 strongest banks in the world. We offer opportunities across our diverse business lines – Retail Banking, Commercial Banking, and Wealth Management.
Position Summary
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 validate periodically over 100 models, for risk management and regulatory compliance purposes. Responsible for independently conducting quantitative analytics and complex modeling projects. Validates various models built to assess and quantify broad financial risk, market risk, operational risk, interest rate risk and other complex economic capital and stress testing models. Examines conceptual soundness of models being validated. Reviews and effectively challenges the underlying assumptions, theory, empirical evidence, 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 validation process regulators and internal audit to discuss justification and reasoning behind validation findings.  This is the most senior level in the Model Validation Analyst job family.
Position Accountabilities
1.         Identify sources of model risk.  Thoroughly and comprehensively review all model components and developmental evidence.  Responsible for conducting quantitative analytics and complex modeling projects.
2.         Presents work through formal validation reports, as well as through presentation to model owners and senior management.  Clearly and concisely document and communicate validation findings.
3.         Present and effectively support findings to model developers, users and senior management.  Develop and prioritize constructive recommendations for model changes or enhancements.  Communicates data quality and completeness concerns to model owners.
4.         Contribute to the 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.
5.         Build strong working relationships with key model stakeholders, in particular model developers and users.  Facilitate communication between model validation team and other stakeholder, including model owner.
6.         Maintain a detailed and comprehensive record of each validation project through work papers and other project artifacts

Required Education or Equivalent Experience
·         Bachelor’s Degree in Quantitative field required
·         Master’s/Advanced Degree in Quantitative field or MBA with quantitative focus required
·         PhD preferred
Required Experience
·         8 or more years in a directly related model development or validation role with
·         Some supervisory/managerial experience helpful
·         Alternative:  Combination of education and experience (years /description) With an appropriate Masters Degree 5 or more years directly related experience or PhD with 3 or more years of experience
Field of Experience
·         Experience 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
·         Strong knowledge of bank products, processes and business practices
·         Familiarity with leading model risk management practices and applicable regulatory guidance
·         Ability to effectively summarize and present validation findings to senior management

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.