Model Validation Pacific Western Bank Westlake Village Jobs Vacancy in Pacific Western Bank Westlake Village
- Model Validation Pacific Western Bank Westlake Village
- Pacific Western Bank
- Westlake Village CA
- 09 Jan, 2018 30+ days ago
Pacific Western Bank Westlake Village urgently required following position for Model Validation Pacific Western Bank Westlake Village. Please read this job advertisement carefully before apply. There are some qualifications, experience and skills requirement that the employers require. Does your career history fit these requirements? Ensure you understand the role you are applying for and that it is suited to your skills and qualifications.
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Model Validation Pacific Western Bank Westlake Village Jobs Vacancy in Pacific Western Bank Westlake Village Jobs Details:
The Vice President, Model Validation is responsible for assisting the Bank’s Model Risk Management Department with its framework and standards, model inventory, model risk assessment, model validation and model governance.
- Conduct model validations on the Bank’s models, both in-house and vendor models, based on regulatory guidelines, the Bank’s model risk management policy and procedure, and the industry’s leading practices.
- Evaluate model assumptions and weaknesses, data relevancy and completeness, conceptual soundness, modeling methodology, outcome analysis, etc.
- Prepare a model validation report that meets the Model Risk Management Department’s expectations, based on the evaluation of the model, including backtesting, sensitivity testing, benchmarking, etc. and include a conclusion based on the review.
- Assist in model validation findings monitoring, reporting, and evaluating the corrective actions.
- Conduct model annual reviews including process verification, performance monitoring, degree of changes, etc. and document the findings and comments in the annual review report.
- Support senior managers to communicate findings and recommendations from model validation report to model owners and model users.
- Assist Model Risk Management Department in preparing data for the Risk Dashboard metrics.
- Work closely with model owners and model users to understand the model use and business applications.
- Review on-going model monitoring report, identify potential model risks; document the findings.
• Master’s or PhD degree in Economics, Finance, Mathematics or other related quantitative fields.
• 4 – 5+ years’ experience in model validation or model development in the banking industry or consulting.
• Familiarity with model documentation requirements that meets regulatory expectations.
• Strong written and verbal communication skills.
• Familiarity with DFAST stress testing models is preferred.
• Proficiency in statistical programming skills such as in R.
• Familiarity with loan-level loss forecast models, QRM deposit and pricing models, or Pre-Provision Net Revenue models is preferred.