Position is responsible for providing critical analysis of model assumptions, methodologies, data and calculations to determine a model's suitability based on its intended business use. Position must ensure compliance with SR 11-7 (Supervisory Guidance on Model Risk Management) and the Model Risk Management Policy and Program. Position will serve as a model subject matter expert with the ability to determine scope and necessary testing of model validations, prepare model validation scripts, complete internal model validations, facilitate external model validations, and interpret model validation results.
Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
Develop a working knowledge of models so as to be the department's subject matter expert on models
Offer effective challenge of models, including model assumptions, methodologies, data and calculations at all phases of the model life cycle
Ensure adequacy of model developmental and implementation testing and perform statistical testing and analysis on developed models as needed, to include, regression testing, quantitative analysis, and other procedures necessary to validate model integrity and accuracy.
Perform internal model validations as assigned
Develop and execute Model Validation Script including model validation scope, model testing requirements and model testing methodologies
Develop challenger models as needed to support Model Validation processes
Coordinate and manage internal and external model validations with business units and validation firms and oversee the content of model validation reports
Review and effectively challenge completed model validations to ensure compliance with Model Validation Script, and confirm that validations are complete, thorough, accurate, and factual
Prepare and distribute Model Validation Executive Summary with completed Model Validation Report to model owners and review model validation results
Work with business units to develop ongoing monitoring plans, ensuring the implementation of appropriate model testing and monitor test results to ensure the model is performing as intended
Prepare reports and present assigned information to the Model Risk Management Committee
High level quantitative and analytical skills
Ability to perform Model Validations on complex models
Ability to develop challenger models when needed as part of a Model Validation
Ability to manage responsibilities and shift priorities in a fast paced and changing environment
Capability to work within a team to collaborate on ideas, problem solving, and solutions
Strong oral and written communication skills and the ability to interact with people at all levels of the organization
Ability to explain and teach complex models and quantitatively based technical information completely and accurately
Strong work ethic with desire to conduct business research to support ideas and solutions to required processes in the Model Risk Management framework
Commitment to meeting deadlines and achieving assigned goals
Qualifications and Education Requirements
Advanced degree in a quantitative discipline such as Economics, Quantitative Finance, Statistics, or related quantitative discipline
M.S. or above in quantitative discipline (statistics preferred) with substantial experience (5+ years) in advanced statistical modeling (e.g. predictive modeling, forecasting, cluster analysis)
Experience using a variety of advanced modeling techniques- logistic regression, general linear and nonlinear modeling, survival analysis, clustering, time series, etc.
Experience with regression methodologies, loss forecasting and other programming and data analysis using R or SAS
Experience in independent oversight/ validation of data analysis and modeling projects
Experience engaging in quantitative analysis on many non-standard business problems.
The ability to communicate complex issues with both nontechnical and technical persons
Ability to build strong relationships while challenging and influencing people in a constructive manner
Excellent mathematical, analytical, and problem-solving skills
The ability to handle multiple projects simultaneously
Demonstrated knowledge of software packages used in business communications such as Word or Excel
Strong written and oral communication skills
Proficiency in statistical software such as R or SAS
Familiarity with relational databases and SQL
Advanced Excel Knowledge
Knowledge of banking/ Generally Accepted Accounting Principles
Required annual compliance training
40 hours of risk based annual training
RECOMMENDED ADDITIONAL TRAINING
New Employee Orientation
This position does not have supervisory responsibilities
PHYSICAL DEMANDS/WORK ENVIRONMENT
Must be able to stand and/or sit for long periods of time. Must be able to effectively access and interpret information on computer screens, documents, reports, and cash denominations, and identify customers.
This position may require minimal travel.
South State Bank