The Federal Home Loan Bank of Indianapolis (FHLBI) has an exciting opportunity for a highly motivated individual to join the model validation team. As a direct report to the Director of Model Risk Management and Validation, the incumbent of this position is responsible for leading the entire cycle of the model validation program at the Bank to ensure model validation activities are consistent with the FHLBI Model Risk Management Policy.
The following statements are intended to describe the general nature and level of work being performed by persons assigned to the job. They are not intended to be an exhaustive list of all responsibilities or abilities required of persons so classified. The Bank reserves the right to alter or amend this description at any time.
◾Lead planning, prioritizing, and managing of concurrent model validations. Assist Director of MRMV to determine annual validation plans.
◾Lead whole cycle of model validation, including pre-validation scoping, validation, validation report review and post-validation management etc.
◾Performs model validations for various types of financial models, including market risk, credit risk, liquidity risk, operational risk etc.
◾Provide expert insight into various modeling and model validation issues. Establish required action plans with model owners/developer and provide value-added recommendations to model owners/developers.
◾Follows up on recommendations with the model owner to ensure that they have been remedied.
◾Lead external model validation Request-For-Proposal (RFP) process including the negotiation of contract with third party vendors
◾Lead periodical model review and model performance review
◾Participate further with inter-departmental management, collaboration, discussion with business units and provide feedback
◾Interact with external regulators and internal auditors to demonstrate the operational soundness and effectiveness of the model validation program at FHLBI.
◾Lead a team of quantitative model validation analysts. Manage and develop team members through communication, feedback, coaching, and work oversight.
◾Identify emerging model risk issues impacting FHLBI and communicate to model developers, senior management and FHLBI Governance Committee.
◾Conduct research and analysis to maintain knowledge of modeling best practices, model validation techniques, and current financial market information.
◾An advanced degree with a concentration in Quantitative Finance, Economics, Mathematics, Statistics, or some other quantitative discipline. A CFA and / or FRM designation is desirable.
◾Working knowledge of OCC 2011-12 and / or FHFA AB 2013-07 (regulatory guidance concerning model risk management).
◾At least three years’ experience in model development is required. Two plus years of experience leading model validations and staff is preferred. Five plus years of experience in financial services risk management is preferred.
◾Proficient in at least one risk management system or valuation system such as QRM, PolyPaths, Calypso etc.
◾In-depth understanding of the conceptual framework and assumption for various type of financial models and how models use in business decision-making and the major impact on financial statement or risk measurement, etc.
◾Strong understanding of financial markets, asset-liability management, and profitability analysis.
◾Strong verbal and written communication skills including presentation skills and inter-personal skills.
◾Strong relationship management skills and the ability to effectively engage with multiple levels of the Bank to include Senior Management, Risk Related Committees, Working Groups, and Staff. Adept in working in a multi-faceted organization.
◾Demonstrated project and people management skills and the ability to work on multiple projects on a concurrent basis and meet deadlines.
◾Strong Excel modeling experience required. Other analysis/modeling skills, such as R, MATLAB, or @RISK, desirable.
◾Detail-oriented. Ability to assume complex assignments with minimal direction.
◾Must not have been convicted of any civil or criminal charge that would suggest a risk to Bank security.
◾Ability to work full time.
FHLBank INDIANAPOLIS is an Equal Opportunity Employer.