Risk Analyst jobs in Allendale, NJ

Model Risk Analyst

• Coordinate the engagement of third parties to perform validation; and
• Review the results of third-party validation.
• Perform validation and analysis of expert judgment or qualitative factors that augment quantitative models.
•  Review to confirm proper controls and adequate documentation are in place.
• Recommend, as necessary, the cessation of reliance on models that are outdated or inaccurate, as determined by analysis.
• Provide effective challenge during model development and throughout the life cycle of the model.
• Prepare reporting for Management to monitor performance of models.
• Participate in meetings with model owners to discuss current portfolio tracking and business observations.
• Develop knowledge on standard concepts, practices, and procedures within the model validation/risk analytics field.
• Mine data from a variety of sources; Utilize technical skills to manage data and efficiently conduct analyses.
• Develop ad hoc processes to address efficiency gains that translate into repeatable procedures.
• Prepare written summary and analysis of all validation work, using a combination of word processing and presentation software skills.
• Adhere to applicable compliance/operational risk controls in accordance with Company or regulatory standards and policies.