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Model Risk Management Analyst Job Details

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Employer:  E-Trade Financial Corp.
Job Ref No:  IRC130862
Job Title:  Model Risk Management Analyst
Sector:  Asset Management


E*TRADE is a leading financial services company and a pioneer in the online brokerage industry. Having executed the first-ever electronic trade by an individual investor more than 30 years ago, the company has long been at the forefront of the digital revolution, offering easy-to-use solutions for individual investors and stock participants. Founded on the principle of innovation and determined to level the playing field for individual investors, E*TRADE delivers digital platforms, tools, and professional assistance to help investors and traders meet their near-and long-term investing goals. The Company provides these services both online and through its network of customer service representatives and financial consultants - over the phone at two national branches and in-person at 30 E*TRADE branches.

Model Risk Management staff has the opportunity to work with leaders in different critical business domains and apply analytical skills to improve business decisions. A Model Validator will perform model validations projects on a variety of models employed in the banking, brokerage and wealth management business areas. At E*TRADE, models are used for:
* managing credit, interest rate and market risks
* valuing securities portfolios and financial instruments (options)
* conducting capital adequacy stress testing exercises
* monitoring customer activities for fraud and anti-money laundering
* providing retirement planning advice
* analyzing opportunities for marketing campaigns
The Model Validator will design and execute model validation tests and contribute to model governance processes.

* Perform validations of a variety of models employed at E*TRADE. A model validation includes the following:
o Understanding the business area and function that uses the model, and the impact of the model output on the business decisions
o Testing model inputs, implications of assumptions, framework, methodology, outputs, usage, performance, implementation, controls and limitations of the model being validated
o Testing model methodologies by understanding assumptions/inputs, by analyzing sensitivity of model outputs to changes in assumptions, and through benchmarking and independent replication
o Testing development data through some understanding of the primary data and replicating data extraction steps
o Testing model implementation and execution
o Assessing model risk governance through review of model documentation, and business policy and procedures and
o Forming conclusions on model appropriateness based on the analysis as outlined above
* Prepare model validation reports detailing the analysis performed, including observations and findings
* Track the resolution and remediation of validation findings
* Track the ongoing performance of models and report observations to management
  • Perform periodic model assessments and classifications

* Recent PhD grad ( Econometrics, Finance, Mathematics, Engineering Sciences) with internships or limited work experience or Master's degree (Econometrics, Finance, Mathematics, Engineering Sciences) with a minimum of one year of work experience
* Experience in model development or statistical, econometric, or quantitative analysis with large datasets
* Experience programming in one or more of the following statistical software packages: MATLAB, VBA, SAS and text parsing languages: PERL, Python
* Ability to work effectively in a high pressure, fast paced environment with multiple deadlines and competing priorities
* Demonstrated ability to produce clear, concise work products (e.g., reports, white papers, published articles, presentations)
* Preferred knowledge of credit risk, market risk, derivatives pricing, or marketing models.
* Previous experience in financial services and banking preferred

We offer a competitive and comprehensive benefits package.
Employment Type:  Full Time
Region/Country:  Americas, United States
States/Counties:  Virginia
City:  Arlington

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