Model Risk Management Validation Analyst

Company: New York Community Bancorp, Inc.
Location: Hicksville
Posted on: March 17, 2023

Job Description:

JOB SUMMARY
A Model Risk Management Validation Analyst supports the implementation and execution of the Bank-wide model risk management policy. This includes the review of complex models used within the organization, model development documentations, model code, and model performance. The Model Risk Management Validation Analyst prepares written validation reports, makes recommendations, and follows up and tracks ongoing model risk issues.

ESSENTIAL FUNCTIONS

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• Performs independent validation of selected models to assess the conceptual soundness of model design and development, ongoing monitoring, and outcomes analysis.
  
• Replicates the model code, reviews model development documentation and model inputs, processing, and outputs.
  
• Develops and maintains effective partnerships with analysts, model owners, business level risk management teams and auditors, internal and external.
  
• Prepares written model validation reports and provides recommendations for the design, development, back testing, implementation and recalibration of models owned by the model development team.
  
• Tracks remediation progress and resolution status for identified model deficiencies.
  
• Assists in the development and maintenance of comprehensive reporting on the deficiencies identified, remediation status, and other critical data elements with respect to remediation.
  
• Performs special projects, and additional duties and responsibilities as required.
  
• Where applicable and when performing the responsibilities of the job, employees are accountable to maintain Sarbanes-Oxley compliance and adhere to internal control policies and procedures.
  

Keywords: New York Community Bancorp, Inc., Hicksville , Model Risk Management Validation Analyst, Executive , Hicksville, New York