Model Risk Analyst - Validation

Overview:

Responsible for review and validation of models used by various groups at M&T for varied purposes, including capital stress testing, risk measurement, pricing and profitability, and management decision-making. Work under the supervision of team lead or manager to validate complex models.

Primary Responsibilities:

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• Perform review and validation of complex models used throughout the organization for capital stress testing, risk measurement, pricing and profitability, and management decision making.
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• Perform review and validation of models used throughout the organization for capital stress testing, risk measurement, pricing and profitability, and management decision making.
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• Perform model validation studies on risk analysis assessment in order to maintain maximum protection of the bank's assets.
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• Investigate any incident that may result in asset loss and compile findings for Management review.
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• Facilitate sourcing of effective challenge and validation.
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• Advise/confirm scope of more in depth internal or external validation, where applicable.
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• Coordinate the engagement of third parties to perform validation. and
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• Review the results of third party validation.
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• Perform validation and analysis of expert judgment or qualitative factors that augment quantitative models.
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• Review to confirm proper controls and adequate documentation are in place.
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• Recommend, as necessary, the cessation of reliance on models that are outdated or inaccurate, as determined by analysis.
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• Provide effective challenge during model development and throughout the life cycle of the model.
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• Prepare reporting for Management to monitor performance of models.
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• Participate in meetings with model owners to discuss current portfolio tracking and business observations.
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• Develop knowledge on standard concepts, practices, and procedures within the model validation/risk analytics field.
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• Mine data from a variety of sources. Utilize technical skills to manage data and efficiently conduct analyses.
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• Develop ad hoc processes to address efficiency gains that translate into repeatable procedures.
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• Prepare written summary and analysis of all validation work, using a combination of word processing and presentation software skills.
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• Adhere to applicable compliance/operational risk controls in accordance with Company or regulatory standards and policies.
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• Promote an environment that supports diversity and reflects the M&T Bank brand.
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• Maintain M&T internal control standards, including timely implementation of internal and external audit points together with any issues raised by external regulators as applicable.
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• Complete other related duties as assigned.
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Scope of Responsibilities:

The Model Risk Management Department is responsible for maintaining policies and procedures and providing guidance to business lines for all aspects of model risk management. This position interacts with multiple levels of management and staff across all business lines in the Bank.

Supervisory/ Managerial Responsibilities:

Not Applicable.

Education and Experience Required:

Bachelor's degree in Mathematics, Statistics, Business, Engineering, Econometrics or Science-based discipline, including a minimum of 3 years' experience in model development or validation, or in lieu of a degree, a combined minimum of 7 years' higher education and/or work experience, including a minimum of 3 years' experience in model development or validation.

Technical knowledge of advanced software packages used in analytics.

Ability and willingness to learn about a wide variety of topics and develop a variety of skills.

Able to work proactively and independently as well as in a collaborative team environment.

Strong written and verbal communication skills, including strong presentation skills.

Strong project management skills.

Thorough attention to detail and documentation.

Education and Experience Preferred:

Master's degree in Mathematics, Statistics, Business, Engineering, Econometrics or Science-based discipline.

Demonstrated leadership skills.

Demonstrated ability to meet deadlines.

Use of abstract thinking to deal with intangibles and uncertainties.

Functional with database development, maintenance, and extraction of data for reporting.

Location

Buffalo, New York, United States of America