Senior Model Risk Validation Analyst - Expert Judgement Models (Boston) Job at Santander, Boston, MA

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  • Santander
  • Boston, MA

Job Description

Join to apply for the Senior Model Risk Validation Analyst – Expert Judgement Models role at Santander Bank, N.A.

1 week ago Be among the first 25 applicants

Join to apply for the Senior Model Risk Validation Analyst – Expert Judgement Models role at Santander Bank, N.A.

Your Journey Starts Here

Santander is a global leader and innovator in the financial services industry. We believe that our employees are our greatest asset. Our focus is on fostering an enriching journey that empowers you to explore diverse career opportunities while nurturing your personal growth. We are committed to creating an environment where continuous learning and development are prioritized, enabling you to thrive both professionally and personally. Here, you will find ample opportunities to connect and collaborate with talented colleagues from around the world, sharing insights and driving innovation together. Join us at Santander, where you are supported by a culture of engagement and a commitment to your success.

Role Overview

The Senior Model Risk Validation Analyst (Sr. Analyst, Model Risk) will be responsible for performing independent validation of models and expert judgement models used by the bank in conformance with regulatory guidance on model risk SR11-07. Responsibilities include performing robust model validations, from input data, model methodology, outcome and usage, to related controls and governance around model risk. The role involves internal communication with business and model development teams, as well as external communication with vendors and third-party servicers. Additionally, the individual will handle day-to-day model risk governance responsibilities such as ongoing performance monitoring, remediation of findings, and annual reviews.

  • Evaluate model assumptions and weaknesses, prepare reports detailing validation results, and recommend solutions for issues identified.
  • Conduct validations of various models against established standards, developing benchmark, challenger, and replication models where applicable.
  • Advise senior management on model risk and its potential impact on the bank’s risk profile during communications with risk committees, auditors, and regulators.
  • Manage the resolution process for findings with model owners and developers.
  • Review ongoing model performance, assess overall model health, identify potential issues, and collaborate with stakeholders to resolve problems.
  • Partner with model owners and developers to understand the business context, providing technical guidance and adding value to the process.
  • Research new modeling trends and approaches to enhance model risk management initiatives.

What You Bring

To succeed, candidates should meet the following requirements:

  • Bachelor’s Degree or equivalent in Statistics, Mathematics, Economics, or a related quantitative field.
  • Master’s Degree or PhD in a relevant discipline (preferred).
  • 3+ years of experience in Model Development, Validation, or Risk Management in banking.
  • Programming skills in R, Python, Matlab, SAS, or similar.
  • Knowledge of advanced quantitative techniques such as regression, time series, econometrics, PCA, data mining, survival analysis, back-testing, and model performance measurement.
  • Familiarity with systems like QRM, ADCo, Intex, or similar is highly preferred.
  • Strong mathematical, statistical, and financial modeling skills.
  • Excellent communication skills and ability to work with senior management and stakeholders.
  • Self-starter with good time and stress management skills, capable of working independently.

Additional Information

Certifications are not listed for this role. Candidates with relevant work history, training, or military service are encouraged to apply. Santander promotes a strong risk culture and values diversity and inclusion. The role is based in Boston, MA, with a salary range of $67,500 - $140,000 annually. The position is full-time, mid-senior level, in the banking industry.

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Job Tags

Full time,

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