JOB BRIEF (PURPOSE)
Qualitative Risk Assessment is responsible for overseeing, and conducting independent risk assessments of non-models and tools. Key uses non-models and tools (referred to collectively as non-model qualitative processes) to support its business functions, including estimating and managing risk exposure and losses, identifying idiosyncratic risk exposures, calculating risk-based pricing, and analyzing various business strategies. As part of its use of these non-model qualitative processes, Key is exposed to Qualitative Risk. Qualitative Risk is the risk to KeyCorp's earnings, capital, strategy or reputation due to the misuse or failure of a qualitative process. As part of the Qualitative Risk Management Program, this risk is monitored and managed to ensure the ongoing accuracy, suitability and reliability of Key's qualitative processes.
As non-model qualitative processes use considerable business expertise and judgment, and generally require technical skills to build, implement, and manage them. Independent assessments are also conducted to ensure that processes and methodologies used for non-models and model overlays are meeting the requirements of the Non-Model Qualitative Process Standards.
The Management Estimate Independent Review Team (MEIRT) performs an independent assessment of these management estimates and model overlays based on determined materiality thresholds. As part of the Capital Adequacy Stress Testing Process, MEIRT performs an independent review and challenge of non-models, idiosyncratic scenarios, and a constrained scope (due to Model Risk's oversight) of model overlays. The independent review and challenge conducted by MEIRT falls under the oversight of Qualitative Risk Assessment to ensure that MEIRT complies with the Non-Model Qualitative Process Review and Challenge Standards and Qualitative Risk Program.
The Senior Qualitative Risk Analyst will drive the completion of independent assessments conducted to ensure that processes and methodologies used for non-models and model overlays are meeting the requirements of the Non-Model Qualitative Process Standards. Through a series of meetings, interviews and research, the individual applies the Standard for Review & Challenge in the development of a formal report of the non-model qualitative process use based on scope, materiality, and supporting formal documentation from the process owner and developer. The individual will gathers information from formal documentation on assumptions made, and methodologies/processes in use, in order to establish the approval conclusion. The position will report to the Head of Qualitative Risk Assessment and work closely with the Risk Modeling & Analytics and the Model Risk teams.
ESSENTIAL JOB FUNCTIONS
Interface on behalf of Qualitative Risk Assessment with the Capital Management and Treasury teams, Risk Modeling and Analytics, and Model Risk in the administration of the Qualitative Risk Management Program, delivering presentations to these groups as needed.
Assist in the development and completion of independent qualitative risk assessments of the assigned non-model qualitative processes to ascertain soundness of employed methodologies used to approximate, estimate control or manage risk in accordance with the Non-Model Qualitative Process Review and Challenge Standards and Procedures.
Partner with Finance and Line of Business and other Risk teams to understand key business drivers in the assessment of the calibration of stress assumptions and risk drivers across risk types
Analyze and synthesize market risk and other quantitative risk results to quantify, demonstrate and understand of the impact of changes in the macroeconomic environment, exposure levels and methodology / modeling assumptions from stress testing.
Assist in the development and ongoing strategic enhancements of criteria used in the assessment of the materiality of a non-model qualitative process
Coordinate the development and documentation of departmental procedures as required
Extensive working knowledge of Key internal reporting systems and experience with creating databases with ability to read, write and/or translate some technical code to produce meaningful financial analysis reports
Provide analysis to regulators, senior management, and Model and Qualitative Risk Committees, as directed
A Bachelor's degree or equivalent is required (preferably in a quantitative field such as Economics, Finance, or Mathematics). Advanced degree preferred.
3 to 5 years of banking or financial industry knowledge and experience is required.
Proficient in Microsoft suite (Word, Excel, Access, Dbase, PowerPoint, etc)
Ability to work under pressure and adhere to strict deadlines with an excellent attention to detail and ability to multi-task.
Excellent written and verbal communication skills, especially in relation to policies and procedures, and effective facilitator of group discussions. Ability to document processes and effectively challenge business units for risk and control purposes.
An inquisitive nature, strong communication and negotiation skill are required to effectively obtain business requirements and approvals from various stakeholders; detail orientation, good interpersonal skills, accuracy, focus and teamwork are required.
Knowledge of operational auditing, credit training, risk assessment and prior exposure to commercial banking areas such as risk management, market risk management, corporate treasury, or other financial reporting processes is preferred.
High attention to detail and ability to work independently to produce executive-level materials, analyses, presentations
Familiarity with stress testing and capital planning strongly preferred
Proven strong problem solving, analytical and technical skills to understand and identify business needs in order to communicate solutions.
Demonstrated knowledge and experience in understanding a variety of quantitative methodologies, and modeling tools use in the estimation of risk is a plus.
Knowledge of financial reporting systems and proficiency in databases, Programming, Microsoft suite (Word, Excel, PowerPoint), Statistical Software (e.g., SAS, R, Matlab), and visualization tools such as Tableau. Working knowledge of GRC software is a plus
Demonstrated strong interpersonal skills, personal integrity and initiative
KeyCorp's roots trace back 190 years to Albany, New York. Headquartered in Cleveland, Ohio, Key is one of the nation's largest bank-based financial services companies, with assets of approximately $134.5 billion at March 31, 2017. Key provides deposit, lending, cash management, insurance, and investment services to individuals and businesses in 15 states under the name KeyBank National Association through a network of more than 1,200 branches and more than 1,500 ATMs. Key also provides a broad range of sophisticated corporate and investment banking products, such as merger and acquisition advice, public and private debt and equity, syndications, and derivatives to middle market companies in selected industries throughout the United States under the KeyBanc Capital Markets trade name. KeyBank is Member FDIC.
ABOUT THE BUSINESS:
Key Enterprise Risk Management provides leadership on risk management strategies and initiatives for credit, market, compliance and operational risk, as well as portfolio management, quantitative analytics and asset recovery activities. Key's objective is to achieve and sustain strong enterprise risk management practices consistent with industry standards and regulatory expectations in support of business strategies. To reach this goal, risk is identified, measured and managed in a manner that promotes effective decision-making and instills accountability. A strong risk culture is critical to achieving our vision to become the best regional bank in the U.S.
KeyCorp is an Equal Opportunity and Affirmative Action Employer committed to engaging a diverse workforce and sustaining an inclusive culture. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, disability, or veteran status.
Keybank National Association