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Model Validation Consultant (12+ months) in Plano at Vaco

Date Posted: 6/20/2018

Job Snapshot

  • Employee Type:
    Full-Time
  • Location:
    Plano
  • Job Type:
    Finance
  • Experience:
    At least 5 year(s)
  • Date Posted:
    6/20/2018
  • Job ID:
    FC 06202018

Job Description

Overview:

Customer Analytics, Capital and Modeling Department is looking for a highly motivated and qualified Model Validation Consultant to support its objectives. The primary responsibility of this role is to support the model validation team to mitigate the model risks under the model governance for the entire TFS. The team is responsible to discover and diagnose modeling related risks including input data, assumption, concept, methodology, process and implementation. The team is also responsible to opine on the model strength and weakness and recommend practical solutions.

Key Responsibilities:

  • Support the model validation team to mitigate the model risks
  • Discovers and diagnoses modeling related risks including input data, assumption, concept, methodology, process and implementation
  • Provides subject matter expertise on models' strength and weakness and recommend practical solutions
  • Validates models assigned by model governance committee
  • Discusses validation results with model owners and governance team to gain consensus and create strategies to implement changes if needed
  • Utilizes express mode validation for new model development, facing legal and compliance related modeling issues, quick model fixes, etc.
  • Review model documents, and conduct test runs on model codes
  • Provide different view on methodology and calculations, and provide feedback to model developers
  • Work on model validation reports with hiring manager and provide ad hoc support to him

Requirements:

Must Have:

  • Bachelor's Degree in Statistics, Econometrics, Finance, Operations Research, or equivalent REQUIRED.
    • Master's or PhD in Statistics, Econometrics, Finance, Operations Research, or equivalent HIGHLY preferred
    • 5+ years of financial model development or model validation experience
    • 3+ years of work experience in using SAS and SQL
    • Quantitative analysis skills
    • Work experience in Financial Industry
    • Model development or validation experience in PD, LGD, Prepayment and Cash Flow models

Preferred/ Nice-to-haves:

  • Working experience in CECL or IFRS 9
  • Working experience in CCAR
  • Working experience in using R