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Model Risk Review Specialist in Columbus at Huntington

Date Posted: 2/14/2018

Job Snapshot

Job Description

The primary responsibility of the Model Risk Review Specialist will be to independently and collaboratively review and validate models/ quantitative frameworks spanning credit, interest rate, market risk, economic capital or capital market valuation, and other models as they arise within the organization. The Analyst is required to provide qualitative and quantitative feedback with support for their review/ validation activities to a variety of audiences within the organization. The role requires working in partnership with business and model owners/users throughout the organization.

The Specialist will also perform research and formulate potential remediation plans for any outstanding or potentially critical problems concerning development, implementation, and usage of the models.

Some key responsibilities are:

• Perform model review and validation in a timely manner according to a project plan adhering to corporate policies and meeting regulatory standards.
• Provide critical analysis and effective thought process and challenges for models reviewed and validations performed by both internal and external parties.
• Communicate to quantitative and business audiences through verbal and written presentations describing the results of the review/ validation analyses, and be able to recommend remediation strategy to address the findings.
• Establish and maintain independent model review/ validation thought processes while adhering to overall business and regulatory guidelines.
• Assist model owners/developer in the compilation of comprehensive model documentation, and ongoing maintenance of the documentation.
• Serve as a key resource on model concepts and assumption change questions including ability to understand impacts through recommendations.
• Work closely with business owners/ model users and developers to understand the business context for model use, and facilitate the model approval process.
• Work with the lines of businesses to identify any modeling gaps, errors or oversights and recommend ways to address these issues.
• Proactively identify emerging model risk issues impacting the company and communicate to model developers, senior management and the appropriate risk committee.
• Keep abreast of the latest quantitative strategies through research on solving problems related to credit, interest rate, market risk, economic capital or capital market valuation etc., and ability to translate it through coding using R, MATLAB, SAS, EXCEL etc.

Basic Qualifications:

• Master's Degree in mathematics, statistics, physics, or econometrics.
• Minimum of 1 year of advanced coursework or project work in quantitative analysis.

Preferred Qualifications:

• Understanding of financial modeling theory and general solutions.
• Experience in Risk Management or a Business Unit of a financial institution working with high impact models in the following risk areas: credit, interest rate, market risk, economic capital or capital market valuation.
• Familiar with related regulatory requirements on model risk management.
• Understanding of statistical concepts and data analysis and demonstrated ability to apply such concepts.
• Have performed independent research and development when needed to solve problems and ability to translate that into a code.
• Proficiency in statistical software packages (e.g. SAS, 'R', etc.), query tools and software, MS Excel.
• Excellent communication skills with the ability to communicate findings clearly and concisely, verbally and in writing.

EEO/AA Employer/Minority/Female/Disability/Veteran/Sexual Orientation/Gender Identity

Tobacco-Free Hiring Practice: To demonstrate our commitment to health and wellness, Huntington will not hire any candidate who uses tobacco or any nicotine product including, but not limited to, cigarettes, cigars, pipes, smokeless tobacco, chewing tobacco, snuff or snus, nicotine gum, the nicotine patch or any other kind of nicotine replacement product (where permitted by applicable state law). Candidates applying for positions in those states will be notified of this practice during the recruitment process and, if offered a position, will be screened for cotinine (to check for use of tobacco and/or nicotine products and/or nicotine replacement therapy products) before they begin employment. If the position to which you're applying is covered by this practice, the job application will provide greater detail as to what constitutes tobacco use.

Huntington does not accept solicitation from Third Party Recruiters for any position.