Model Performance Monitoring Analyst

Position Title

Model Performance Monitoring Analyst

Location

Hicksville, NY 11801

Job Summary

Pay Range: 59-99K

JOB SUMMARY
The Model Performance Monitoring Analyst assists in the review and rating of model performance and controls, including establishing the model ongoing performance monitoring scope, assessment of ongoing monitoring performance results and directing communication with stakeholders. Assists in the implementation of model ongoing performance monitoring (OPM) program including quantitative tests, such as back-testing, benchmarking, and sensitivity analysis. Maintains model ongoing performance monitoring issues within the Archer Issues Management solution, including input of new issues, tracks issue due dates, follows up with model owners regarding remediation status, assists BPOs with the use of the Archer solution, and review of documentation for issue closure. Proactively maintains effective partnerships with the model validation analysts, model owners, business level risk management teams and internal and external auditors to execute sound model risk governance.Pay Range: Local Minimum Wage - $0.00 - $0.00

Job Responsibilities:

JOB RESPONSIBILITIES 
•    Reports regularly on compliance with the Model Risk Management Framework and Procedures, including model inventory, model issues, and all aspects of the model life cycle.
•    Assists in the review and rating of model performance and controls, including establishing the model ongoing performance monitoring scope, assessment of ongoing monitoring performance results and communication with stakeholders. 
•    Assists with the preparation of portions of the monthly report to the Model Risk Management Committee.  
•    Maintains model ongoing performance monitoring issues within the Archer Issues Management solution, including input of new issues, tracks issue due dates, follows up with model owners regarding remediation status, assists BPOs with the use of the Archer solution, and review of documentation for issue closure.
•    Assists with model inventory management and ensures governance over all phases of the model life cycle, including new model approval, implementation, model change requests, and model decommissioning/retirement.
•    Performs quality assurance reviews on key model governance processes such as model inventory, model risk assessments, model validation schedule, and all model data within the Archer solution. 
•    Provides documentation to requests from various oversight groups, including internal and external auditors and regulators.
•    Administers Model Identification Tools and reviews End User Computing tools for model determination.
•    Facilitates the centralized report of Model Overlays and Overrides.
•    Proactively maintains effective partnerships with the model validation analysts, model owners, business level risk management teams and internal and external auditors to execute sound model risk governance.
•    Organizes and maintains all department documentation and reporting in an efficient manner.

ADDITIONAL ACCOUNTABILITIES
•    Performs special projects, and additional duties and responsibilities as required.
•    Consistently adheres to regulatory and compliance policies and standards linked to the job as listed and complete required compliance trainings.  Accountable to maintain compliance with applicable federal, state and local laws and regulations. 

Job Requirements

• Required Qualifications:
•     Minimum experience required: 2+ Years in experience with financial modeling, model development and/or validation.
• Preferred Qualifications:
•     Education level preferred: Master's Degree (or Postgraduate) in Economics, Finance, Mathematics, Computational Finance or related field required.
•     Experience and familiarity with SR 11-7 preferred.
• Job Competencies:
•     Knowledge of risk management concepts and principles and valuation of basic instruments.
•     Knowledge of financial markets, interest rates and potential impact of current economic activity.
•     Excellent quantitative and analytical skills.
•     Excellent knowledge of statistics, mathematics and financial modeling.
•     Proficiency in SAS, Matlab, R and/or VBA
•     Knowledge of MS Office software including Word, Excel, Access and PowerPoint and, Visio.
•     Strong problem solving and research abilities.
•     Excellent verbal and written communication skills.
•     Good project coordination and organizational skills.
•     Ability to multi-task and prioritize work appropriately.
•     Ability to work with all levels of management and staff across all lines of business in the Bank.
•     Ability to work independently and on a team and follow through assignments to completion.
•     Physical demands (ADA): No unusual physical exertion is involved.

Flagstar is an Equal Opportunity Employer

Flagstar provides teammates access to a variety of benefits including medical, dental, vision, life, and disability insurance, as well as a comprehensive leave program. Please click the following link for detailed information: Benefits | Flagstar Bank