Model validation (MRMG)

Role Summary

The Model Validation Specialist is responsible for performing independent validations of models used across the organization for risk management, capital planning, pricing, and other critical business functions. This includes assessing conceptual soundness, performance, and compliance with internal policies and regulatory standards (e.g., SR 11-7).

Key Responsibilities

• Conduct

  end-to-end model validation

  for a wide range of models (credit risk, market risk, ALM, stress testing, capital planning, pricing, and machine learning models).
• Perform

  quantitative and qualitative assessments

  of model methodology, assumptions, and limitations.
• Review

  model development documentation

  , data integrity, and implementation accuracy.
• Develop and execute

  benchmarking, back-testing, and sensitivity analysis

  .
• Provide

  effective challenge

  to model owners and developers, ensuring robust governance.
• Document validation results comprehensively and support

  internal audits and regulatory reviews

  .
• Collaborate with stakeholders to

  enhance model risk management standards and frameworks

  .
• Stay updated on

  regulatory guidance

  (SR 11-7, OCC, Basel) and industry best practices.

Required Skills

• Strong knowledge of

  risk modeling techniques

  , including statistical models, scorecards, and machine learning algorithms.
• Proficiency in

  programming languages

  (Python, R, SAS, MATLAB) and data analysis tools.
• Familiarity with

  regulatory requirements

  for model risk management.
• Excellent analytical, problem-solving, and communication skills.
• Experience in

  banking/financial services

  with exposure to credit risk, market risk, or capital planning models.

Preferred Attributes

• Experience in

  stress testing frameworks

  (CCAR/DFAST).
• Knowledge of

  model governance and lifecycle management

  .
• Ability to manage multiple validations and deliver under tight timelines.