Model Risk Management Analyst II

First Interstate Bank - Shawnee, KS

Full-time - Mid Level

Shawnee, KS

Credit Intermediation and Related Activities

About the position

The Model Risk Management Analyst II plays a crucial role in supporting model risk management initiatives and governance at First Interstate BancSystem. This position is responsible for enhancing and maturing the Model Risk Management Program by collaborating with various stakeholders, including senior risk officers and external vendors. The analyst will engage in model development, implementation, testing, validation, and ongoing monitoring, ensuring compliance with regulatory requirements and best practices.

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.
• Works with people at all levels in the organization to maintain a cohesive and informed Model Risk Management program.

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.

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.