First Citizens Bank
Model Risk Analyst, CCAR/CECL Model Validation (Remote)
First Citizens Bank, Raleigh, North Carolina, United States
Overview
This is a remote role that may be hired in several markets across the United States. This position is within First Citizens Bank’s Model Risk Management (MRM) team and focuses on the independent validation of models used for CCAR (Comprehensive Capital Analysis and Review) stress testing and CECL (Current Expected Credit Loss) frameworks. The models supported span a broad range of lending portfolios, including Residential Mortgages, Credit Cards, Auto Loans, Home Equity Lines of Credit (HELOC), Commercial & Industrial (C&I) Loans, Commercial Real Estate (CRE), Equipment Finance, and Innovation Economy segments. The analyst will collaborate with the validation manager and director to conduct independent validations and may rotate within the team to gain a holistic understanding of CCAR and CECL frameworks.
Responsibilities
Comprehensive Model Validation: Conduct thorough validations of various model components to ensure accuracy, reliability, and alignment with business objectives and regulatory requirements.
Model Inputs Analysis: Assess data quality, integrity, and appropriateness; evaluate data extraction, cleaning, transformation processes, and data-related assumptions and limitations.
Model Framework Evaluation: Review model design, segmentation, variable selection, testing procedures, and evaluate assumptions, limitations, and risks.
Model Code Review: Review model code for correctness and collaborate with model owners to address issues.
Outcomes Analysis: Assess in-sample and out-of-sample back tests, sensitivity analyses, scenario testing, stress testing, and performance metrics.
Benchmark Model Development: Develop alternative approaches to compare champion models against benchmarks.
Risk Identification and Mitigation: Identify model risks and recommend mitigations to improve quality and regulatory compliance.
Documentation and Reporting: Produce validation reports communicating findings, recommendations, and risks to technical and non-technical stakeholders; ensure adherence to internal standards.
Audit and Regulatory Review Support: Assist in preparing materials for internal audit and regulators, and help draft responses during exams.
Continuous Learning and Improvement: Stay updated on trends and best practices in model validation and regulatory requirements; contribute to framework enhancements.
Qualifications
Bachelor's Degree and 6 years of experience in Risk Analytics or Analytics, OR High School Diploma or GED and 10 years of experience in Risk Analytics or Analytics.
Preferred Qualifications
Advanced degree (Master's or Ph.D.) in a quantitative field (e.g., Statistics, Data Science, Economics, Applied Mathematics, Engineering, or related).
Open to junior and senior levels based on experience (2+ years for Risk Analyst III; 5+ years for Senior Risk Analyst).
Proficiency in modeling techniques (linear/logistic regression, survival analysis, time series, machine learning) and programming languages (SAS, Python, R, SQL).
Strong understanding of regulatory requirements, especially related to stress testing and capital planning.
Excellent problem-solving, attention to detail, and written/verbal communication skills.
The base pay for this position is generally between $90,000.00 and $150,000.00. Actual starting base pay will be determined based on skills, experience, location, and other nondiscriminatory factors. For some roles, total compensation may include variable incentives, bonuses, benefits, and/or other awards as outlined in the offer of employment. Benefits information is available at the company benefits page.
This job posting is active for an extended period and may be extended if necessary. Referrals increase your chances of interviewing at First Citizens Bank.
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Responsibilities
Comprehensive Model Validation: Conduct thorough validations of various model components to ensure accuracy, reliability, and alignment with business objectives and regulatory requirements.
Model Inputs Analysis: Assess data quality, integrity, and appropriateness; evaluate data extraction, cleaning, transformation processes, and data-related assumptions and limitations.
Model Framework Evaluation: Review model design, segmentation, variable selection, testing procedures, and evaluate assumptions, limitations, and risks.
Model Code Review: Review model code for correctness and collaborate with model owners to address issues.
Outcomes Analysis: Assess in-sample and out-of-sample back tests, sensitivity analyses, scenario testing, stress testing, and performance metrics.
Benchmark Model Development: Develop alternative approaches to compare champion models against benchmarks.
Risk Identification and Mitigation: Identify model risks and recommend mitigations to improve quality and regulatory compliance.
Documentation and Reporting: Produce validation reports communicating findings, recommendations, and risks to technical and non-technical stakeholders; ensure adherence to internal standards.
Audit and Regulatory Review Support: Assist in preparing materials for internal audit and regulators, and help draft responses during exams.
Continuous Learning and Improvement: Stay updated on trends and best practices in model validation and regulatory requirements; contribute to framework enhancements.
Qualifications
Bachelor's Degree and 6 years of experience in Risk Analytics or Analytics, OR High School Diploma or GED and 10 years of experience in Risk Analytics or Analytics.
Preferred Qualifications
Advanced degree (Master's or Ph.D.) in a quantitative field (e.g., Statistics, Data Science, Economics, Applied Mathematics, Engineering, or related).
Open to junior and senior levels based on experience (2+ years for Risk Analyst III; 5+ years for Senior Risk Analyst).
Proficiency in modeling techniques (linear/logistic regression, survival analysis, time series, machine learning) and programming languages (SAS, Python, R, SQL).
Strong understanding of regulatory requirements, especially related to stress testing and capital planning.
Excellent problem-solving, attention to detail, and written/verbal communication skills.
The base pay for this position is generally between $90,000.00 and $150,000.00. Actual starting base pay will be determined based on skills, experience, location, and other nondiscriminatory factors. For some roles, total compensation may include variable incentives, bonuses, benefits, and/or other awards as outlined in the offer of employment. Benefits information is available at the company benefits page.
This job posting is active for an extended period and may be extended if necessary. Referrals increase your chances of interviewing at First Citizens Bank.
#J-18808-Ljbffr