SA/Associate_Central Challenger

Job Description

Model Risk Governance and Review (MRGR) is responsible for review and maintenance of estimation methodologies across the firm.The Central Challenger team (CCT) within MRGR has a firm-wide purview for independently assessing and driving improvements in the following areas:

• Qualitative models (QM) developed within various lines of business (LOBs) for the Firm s Capital Stress Testing, Budget Forecasting and Resolution & Recovery processes. It also includes developing independent statistical models/analytical calculators to challenge LOB results.
• Key financial calculations implemented through User Tools (i.g. Excel Spreadsheet, Access DB, VBA codes etc.) across the Firm, including those related to capital measurement, stress testing, external financial reporting, product valuations, and other high priority processes.
• The team partners with the Corporate Capital Stress Testing team, Recovery & Resolution team, LOBs, Regulatory Policy, Financial Reporting, Economic Scenarios, Quantitative Research and various other Finance and Risk teams on various firm-wide initiatives.

Job Summary:The primary role of Central Challengers is to

• constructively challenge and improve existing forecasting methodologies used across the Firm
• review implementation accuracy and soundness of financial calculations. The Associate will support Pillar Leads on qualitative model reviews. Ability to think critically, take ownership of the review process and communicate effectively (both spoken and written) are critical to this role.
• The individual will be responsible for conducting reviews to evaluate the accuracy and completeness of key regulatory reports. The reviews will be performed across all lines of businesses and corporate functions, covering high priority areas such as

• CCAR/DFAST (FR Y14A/Q/M) and internal stress testing
• Resolution & Recovery
• Budget Forecasting Processes
• Regulatory Capital/RWA reporting for Basel (FFIEC 101/102)
• External financial reporting (e.g. 10K/10Q, Footnote disclosures, Call Report and FR Y-9C)

Core Responsibilities:

• Work with the Review Leads to independently review/lead QM reviews and challenge key estimation methodologies, assumptions and analytics/tools used for firm-wide capital stress testing, resolution & recovery, budgeting and related processes
• Review documentation of estimations and write assessment reports
• Perform independent review of the Firm s economic scenarios to be used in the annual ICAAP/CCAR cycles, as well as for CECL and IFRS
• Participate in independent review of User Tools (UT) supporting key business functions with a focus on implementation accuracy, completeness, tool design and in select cases review conceptual soundness
• Interact with teams across Finance and Risk functions, lines of business (front/middle/back office) and reporting groups.
• Stay abreast of regulatory and industry requirements in finance / risk / accounting to manage reviews and changes in processes.
• Develop analytical tools to challenge macroeconomic variable projections and LOB results
• Develop expertize to challenge the inputs to Operational risk capital for the firm
• Develop expertise across a broad spectrum of financial products & services (retail, wholesale and capital markets)
• Report and present review inventory plans, status and findings to various stakeholders and leadership

Qualifications and Skills

• Graduate degree in finance, accounting, economics or MBA (undergraduate in a quantitative discipline such as Mathematics, Statistics, Engineering, or related quantitative field highly desired)
• 3-6 years of experience in banking / financial services industry
• Experience and strong knowledge in regulatory capital rules (Basel, CCAR, FR Y-9C)
• Good understanding of risk concepts (Credit/ Market/ Liquidity/ Operational), measurement techniques and financial products
• Ability to perform and analyze regressions and time series analyses
• A firm understanding of macroeconomics and key macroeconomic indicators (e.g. GDP, unemployment, interest rates, spreads, etc.)
• The candidate must be a self-starter who is able to work in a fast paced, results driven environment and a good team player
• Strong quantitative, analytical, and problem solving skills
• Strong Excel skills required (VBA / SQL is a plus), proficient in MS Office
• Outstanding presentation, reporting and communication skills with attention to detail
• Strong organizational, communication (verbal and written) and negotiation skills
• Risk Management and Control mindset (ability to identify control gaps and/or issues)
• Inquisitive and intellectually curious, has extreme attention to detail

Qualifications considered an additional plus

• Background or experience with various models (including pricing, capital, and/or financial forecasting models) and the model development and maintenance life cycle.
• Experience in statistical modelling software (SAS, R, etc.) and/or valuation experience
• Certifications such as FRM, CFA, etc.
• Knowledge of regulatory guidelines (SR 15-18, SR 11-7)

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