| Job Description | Primary Purpose:
Under the general supervision of the Model Risk Management Manager, perform advanced level model risk management for the corporation. Focus primarily on model validation, but also evaluate other model controls and serve as a resource for the corporation in all model risk management related tasks.
Desired Skills:
1. An advanced degree in quantitative finance, mathematics, statistics or a related field
2. Expert in Microsoft Excel and Access
3. Advanced competency programming in languages such as VBA, SAS and C++
4. One to two years of internal audit experience
Minimum Qualifications:
The requirements listed below are representative of the knowledge, skill and/or ability required. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
1. Bachelor’s degree in a math, science, business or related field, or equivalent education and related training
2. Five to seven years of analytical experience or an equivalent combination of relevant graduate studies and work experience
3. Familiarity with multiple financial modeling disciplines, such as asset-liability management, term structure modeling, derivatives pricing theory, value-at-risk, hedging theory, quantitative risk management, Monte Carlo simulation or forecasting techniques
4. Excellent communication (verbal and written), organizational and interpersonal skills
5. Advanced competency in Microsoft Office 6. Familiarity with computer programming 7. High attention to detail and ability to think at the organizational level 8. Ability to travel, occasionally overnight
Responsibilities:The following is a summary of the essential functions for this job. Other Duties may be performed, both major and minor, which are not mentioned below. Specific activities may change from time to time.
1. Independently perform model validation. This involves assessing the model’s overall suitability to its intended purpose, evaluating the model’s mathematical theory and constructs, testing its assumptions, data and calculations, making recommendations for improvements, thoroughly documenting all work and producing a formal report on the results.
2. Evaluate other model controls such as model performance tracking, change management, access control and documentation.
3. Follow-up on validation findings. This includes working with the line of business to address issues, analytically evaluating the residual risk as well as ensuring that the residual risk is within the corporation’s risk tolerance.
4. Serve as a consultant on model related projects, performing quantitative analysis on models in development or models undergoing enhancements/rebuilds.
5. Work effectively as a team member, assisting the Model Risk Management Manager, external consultants and/or other analysts in model validation or other model risk management tasks.
6. Serve as a resource for the corporation in all model risk management initiatives, including assisting the lines of business in complying with the Model Policy and Standards.
7. Promote model risk management awareness. This may include presentations at staff meetings throughout the corporation or producing educational material. |
| | Company | | BB&T Corporation | Job Code | | State or Province | | Pennsylvania | | |
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