Model Risk Management Analyst II

$53,954 - $89,023/Yr

First Interstate Bank - Shawnee, KS

Full-time - Mid Level

Shawnee, KS

Credit Intermediation and Related Activities

About the position

The position plays a crucial role in supporting model risk management initiatives and governance to enhance and mature the Model Risk Management Program at First Interstate Bank. The role involves collaboration with various stakeholders, including senior risk officers and external vendors, to manage model risks effectively across different areas such as credit risk, liquidity risk, and fraud detection. The candidate is expected to have a strong analytical background and a general understanding of model approaches and techniques, along with the ability to foster a risk-aware culture within the organization.

Responsibilities

• Facilitates the implementation of the model risk management policy, framework, standards, and procedures.
• Conducts model validations across a diverse range of models used in credit risk, market risk, operational risk, and other areas.
• Collaborates with model owners and developers to ensure robust model governance and lifecycle management.
• Provides strategic guidance and expertise on model risk to various stakeholders throughout the bank.
• Monitors the model risk landscape and reports emerging risks and regulatory changes.
• Facilitates effective communication, tracking, reporting on model risk issues, validation findings, and risk mitigation strategies.
• Partners with third parties and manages relationships that provide external validation support and consultation.
• Creates and maintains regulatory reporting, as required.

Requirements

• Bachelor's degree in finance, economics, statistics, mathematics, or a related field; advanced degree preferred.
• 3-5 years of experience in model risk management or a related area within a bank or other financial institution.
• Demonstrated knowledge of regulatory requirements related to MRM, particularly SR 11-7, SR 21-8, and the OCC Comptroller's Handbook on MRM.
• Strong analytical skills with the ability to assess complex models and understand their impact on the bank's risk profile and financial performance.
• Excellent leadership and team development skills, with the ability to manage and motivate a high-performing team.
• Effective communication skills, both written and verbal, with the ability to engage with and influence stakeholders at all levels.
• Proficiency in statistical software packages and tools relevant to model development and validation.

Nice-to-haves

• Familiarity with SR 10-1, SR 10-6, and SR 12-7 preferred.

Benefits

• Generous Paid Time Off (PTO) in addition to paid federal holidays.
• Student debt employer repayment program.
• 401(k) retirement plan with a 6% match.
• Medical, dental, and vision insurance.
• Short-term and long-term disability benefits.
• Life insurance.
• Flexible spending accounts and health savings account.
• Employee assistance program.
• Annual discretionary cash bonuses.