Responsible for review and validation of models used by various groups at M&T for varied purposes, including capital stress testing, risk measurement, pricing and profitability and management decision-making. This position will work under the supervision of team lead or manager to validate less complex models or less complex aspects of models. Primary Responsibilities:
Scope of Responsibilities:
- Perform review and validation of non-complex models or aspects of models used throughout the organization for capital stress testing, risk measurement, pricing and profitability, and management decision-making.
- Perform model validation studies on risk analysis assessment in order to maintain maximum protection of the bank's assets. Investigate any incident that may result in asset loss and compile findings for Management review.
- Facilitate sourcing of effective challenge and validation:
- Advise/confirm scope of more in depth internal or external validation, where applicable;
- Coordinate the engagement of third parties to perform validation; and
- Review the results of third party validation.
- Perform validation and analysis of expert judgment or qualitative factors that augment quantitative models; review to confirm proper controls and adequate documentation are in place.
- Recommend, as necessary, the cessation of reliance on models that are outdated or inaccurate, as determined by analysis.
- Provide effective challenge during model development and throughout the life cycle of the model.
- Prepare reporting for Management to monitor performance of models.
- Participate in meetings with model owners to discuss current portfolio tracking and business observations.
- Develop knowledge on standard concepts, practices, and procedures within the model validation/risk analytics field.
- Mine data from a variety of sources; Utilize technical skills to manage data and efficiently conduct analyses.
- Develop ad hoc processes to address efficiency gains that translate into repeatable procedures.
- Prepare written summary and analysis of all validation work, using a combination of word processing and presentation software skills.
- Adhere to applicable compliance/operational risk controls in accordance with Company or regulatory standards and policies.
- Promote an environment that supports diversity and reflects the M&T Bank brand.
- Maintain M&T internal control standards, including timely implementation of internal and external audit points together with any issues raised by external regulators as applicable.
- Complete other related duties as assigned.
This position will interact with various lines of business and support areas, including Credit Risk, Finance, Treasury and Mortgage to manage model risk throughout the bank and support the capital planning process.
Education and Experience Required:
Master's degree in Mathematics, Statistics, Business Engineering, Econometrics, or Science-based discipline, plus 1 year experience in model development or validation.
Technical knowledge of advanced software packages used in analytics. Education and Experience Preferred:
Ability and willingness to learn about a wide variety of topics and develop a variety of skills
Thorough knowledge of Microsoft Office suite
Able to work as a cohesive member of a team
Strong mathematical, analytical and communication (both written and oral) skills
Use of abstract thinking to deal with intangibles and uncertainties
Functional with database development, maintenance, and extraction of data for reporting
Demonstrated ability to meet deadlines
Thorough attention to detail and documentation
Given limited experience, relies on judgment to plan and accomplish goals