at Old National Bank in ChicagoChicago, Illinois, United States
Job Description
Model Risk Analyst
Job Locations
US-IN-Evansville | US-IL-Chicago | US-MN-St Louis Park | US-TN-Nashville | US-IN-Indianapolis | US-KY-Louisville | US-IN-Evansville
Category/Function
Risk/Security
Position Type
Regular Full-Time
Requisition ID
2024-14650
Workplace Type
On Site
Overview
Old National Bank has been serving clients and communities since 1834. With $48 billion in total assets, we are a regional powerhouse deeply rooted in the communities we serve. As a trusted partner, we thrive on helping our clients achieve their goals and dreams, and we are committed to social responsibility and investing in our communities through volunteering and charitable giving.
Our team members are our greatest asset, and we continually invest in their growth and development. We offer a variety of Impact Network Groups led by team members who are passionate about driving engagement, creating awareness of diverse backgrounds and experiences, and building inclusion across the organization.
Old National Bank is seeking to fill the role of Model Risk Analyst. The Model Validation Quantitative Analyst will assist with enterprise-wide oversight responsibility for all aspects of model risk including model governance, model validation and model performance monitoring. This position validates and approves qualifying models used across different areas of the enterprise and is responsible for model risk ratings, model inventory management, model disclosures, model usage tracking and controls. The Model Validation Quantitative Analyst will assist in implementing and maintaining high quality standardized model validation documentation, and keep up to date with regulations, regulatory exam requirements and regulatory guidance. Interact with external regulators and internal auditors to demonstrate the operational soundness and effectiveness of the model validation process. The role will work closely Executives and Senior Management with all lines of business for independent validation projects, other ongoing monitoring/effective challenge processes and provide recommendations for continuous model enhancements across the enterprise.
Key Accountabilities
Assist in Maintaining the Model Validation Program
Independent Validation of all corporate risk models, including credit risk (PD, LGD), forecasting, compliance and operational risk models, and other model types. Including performance of model validations and oversight of any independent internal or external model validations.
Effective challenge of the model conceptual soundness, assumptions, and appropriateness of model methodology.
Model development data integrity verification.
Replication of the model estimates.
Model testing including back-testing, sensitivity analysis, stress testing, and benchmarking.
Review of the model implementation, verification of user acceptance testing.
Preparation of comprehensive independent validation documentation.
Coordination of independent validation projects and processes among multiple stakeholders. Participation in peer review processes for model development and validation.
Participation in improvement of model validation procedures and supporting methods.
Participation in model monitoring and maintenance review.
Ongoing improvement of business acumen including knowledge of regulatory guidance, relevant research, risk technology, and financial services industry.
Development of strong business relationships with key business partners.
Perform independent model validations and effective challenge for models across all lines of business
Maintain and follow independent model validation standards and procedures.
Interpret model validation test results and establish required action plans with model owners/developers and provide value-added recommendations to model owners/developers.
Proactively identify emerging model risk issues impacting the Company in relation to the Bank's risk appetite and communicate to model developers, senior management and Committees as needed.
Maintain current/develop new analytical reports and presentations for senior management, executive committees and regulatory exams.
Collaboration with (future) data warehouse and/or model development departments.
Identify and maintain the inventory of the Bank's critical non-model tools. Develop and maintain a risk-based program to provide oversight of the Bank's tools.
Key Competencies for Position
Culture Leadership:
Communication: Effectively shares information and ideas with individuals and groups; displays self-awareness and self-management, tailors the delivery to the audience, and selects suitable delivery method(s).
Collaboration: Actively seeks, develops, and maintains trusted relationships with others to achieve business goals and objectives.
Execution Leadership:
Drive and Execution- Committed to achieving established goals,... For full info follow application link.
EOE/Minorities/Females/Vet/Disability
