The Risk Analytics Modeling Specialist is primarily responsible to participate in performing effective Model Risk Management of bank-wide models, through every aspect of the model life cycle, from model development, implementation and use, to a rigorous model validation, including specific governance and controls, in order to comply with Amerant Bank’s Model Risk Management Policy and regulatory guidance. Will also be responsible for collaborating in developing quantitative analysis/models for the Risk departments.
Duties and responsibilities include:
- Perform, with manager guidance, periodic independent model validation, including evaluation of conceptual soundness, data quality & integrity, syntax validation, and model performance, in accordance with internal policy and regulatory guidelines to ensure ongoing model effectiveness.
- Review the underlying assumptions, theory, derivation, empirical evidence, implementation, limitations, governance and controls of the model being validated.
- Perform back-testing, model bench-marking, and sensitivity analysis of the model being validated.
- Develop challenger models and methodologies with their appropriate documentation to identify improvements.
- Prepare validation report and communicate results of the validation to the model owner, as well as, prepare the presentation for Senior Management Committees and the action plan for the model being validated
- Work closely with the model owners/users (business, Market Risk, Credit Risk, Finance, BSA, Fraud Prevention, among others) to understand model details and to develop and implement recommendations.
- Collaborate with the unit to ensure compliance of model development standards and procedures with regulatory requirements, as well as, ensure a correct model implementation and use.
- Participate in the training plan for the Risk Analytics team to ensure appropriate and effective use of the analytical tools and new techniques in accordance with their intended objectives.
- Participate in the development of reports and special assignments.
- Follow-up action plans to ensure findings/recommendations are completed on time and satisfactory.