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Analyst ll, Model Risk

Quick Facts

St. Louis, Missouri, Fort Worth, Texas, Jersey City, New Jersey, Omaha, Nebraska ID# 2017-12692 Regular Full-Time First Level Professional

Role:

This position will assist the Model Risk Governance team in executing against the framework for model risk reporting.  Key responsibilities include executing against the overall model risk governance framework and assisting in the implementation of the framework through a formal model risk program within the lines of business and enterprise.

Responsibilities:

  • Maintain a basic functional knowledge of model risk concepts and work with the business units to communicate key guiding principles.
  • Participate with team members to execute against the framework for the model risk rating and reporting
  • Collaborate with the model developers and business units to execute the governance framework, policies and procedures.
  • Gather information for the initial requests for the introduction of models/tools to be used throughout the firm or offered to clients for their use.  
  • Interact with the developers and business unit owners and gather model development documentation:
    • Statement of purpose
    • Documentation of design, theory and logic (including the mathematical specifications, numerical techniques, limitations, etc.)
    • Assumptions made
    • Any self-testing performed by development or QA teams
  • Draft initial review of documentation and proposed risk rating and report and work with manager to evaluate formal results of analysis performed.
  • Research models/tools and any problems and provide suggestions to management for feedback and input.
  • Perform end-to-end validations/testing of basic or less complex models/tools internal and client facing with oversight, guidance and review from management.
  • Validation/testing involve identifying the key risks associated with a model, planning a risk-based validation approach and scope, designing and conducting validation tests, recognizing gaps in model risk management and governance, and drafting a model validation report. Some key requirements for an effective independent model validation are:
    • Checking the model’s accuracy
    • Demonstrating the model is robust and stable
    • Assessing potential limitations
    • Evaluating the model’s behavior over a range of input values
    • Assessing the impact of assumptions
    • Identifying situations where the model performs poorly or becomes unreliable
  • Compile and document evidence of work performed and draft a detailed report of outcomes identified.
  • Review documentation with management in detail and adjust findings based on management feedback, guidance and training.
  • Perform an ongoing re-review/validation of less complex models on a periodic basis based on the level of model risk assigned to each model.
  • Update model risk documentation based on re-review/validation performed.
  • Compile and document evidence of work performed and draft a detailed report of outcomes identified.
  • Review documentation with management in detail and adjust findings based on management feedback, guidance and training. 

Requirements:

  • Prior work experience in the financial services industry as well as experience in risk management or related fields including public accounting, internal audit, or compliance is preferred.  
  • Knowledge of quantitative model risk validation preferred.
  • Foundational experience in performing mathematical validation of, including client facing tools (e.g. capital allocation model, credit risk models, marketing models, etc.).
  • Foundational experience in credit risk, market risk, derivatives pricing, market risk is a plus.
  • Strong understanding of reading and interpreting coding languages (e.g. Python, Java Script, etc.)
  • Understanding of OCC 2011-12 and SR 11-7 guidance on model risk management
  • Foundational knowledge of internal control and risk management concepts, financial services industry practices and regulatory requirements.
  • Must be able to communicate effectively (orally and written) with professionalism and possess solid presentation skills
  • Strong work ethic, initiative, teamwork and flexibility to assist department in meeting organizational goals.
  • Works independently under direct supervision with latitude for initiative and some independent judgment.
  • Anticipate work, plan, organize, and carry out responsibilities with professionalism and confidentiality.
  • Must possess strong analytical, organizational, and problem-solving skills, be self-disciplined and motivated, and be able to handle pressure and stress generated by multiple tasks, deadlines, and interruptions.
  • Must be able to prioritize tasks according to importance and be detail oriented and complete work in a timely, accurate and complete manner.
  • Collaborative working style with the willingness to listen to all viewpoints.
  • Takes initiative and demonstrates creativity, self-motivation, enthusiasm, and intellectual curiosity and is able to lead by example.
  • Familiarity with securities industry preferred.
  • BA/BS; Econometrics, Finance, Mathematics, or Engineering or Data Sciences
  • 1-3 years experience
  • Military education or experience may be considered in lieu of civilian requirements listed

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Applicants must be eligible to work in the U.S. Immigration sponsorship is typically not available for this position.

TD Ameritrade participates in the E-Verify program. For additional information on this program please click here. TD Ameritrade is an Equal Opportunity Employer. We value diversity and offer a quality workplace. TD Ameritrade, Inc. member FINRA/SIPC/NFA is a subsidiary of TD Ameritrade Holding Corporation (NASDAQ:AMTD). TD Ameritrade is a trademark jointly owned by TD Ameritrade IP Company and the Toronto-Dominion Bank.

© 2014 TD Ameritrade IP Company, Inc. All rights reserved. Used with permission.

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