Model Risk Management Analyst

Rockland Trust is seeking a Model Risk Management Analyst.

The Model Risk Management (MRM) Analyst reports to the Model Risk Program Manager and serves as a technical authority in the Model Risk Management Group to help manage the risk of potential adverse consequences resulting from model error or misuse of a model.

To manage model risk effectively, the Bank needs to monitor, review, ,test, and validate the RTC bank-wide inventory of models, including models that significantly impact: credit decisions, credit loss estimates, risk forecasting and stress testing, operations, asset/liability management, liquidity and market risk management, and transaction monitoring for anti-fraud and anti-money laundering compliance. 

This position is responsible for partnering with the first line of business to provide guidance, support and effective challenge of models.

The MRM Analyst conducts testing, provides critical review of model performance, and assists with reviews of validation reports prepared by other independent parties, reviews model owners’ responses to validation findings and recommendations, and interfaces with internal stakeholders and regulators to communicate findings in model risk, including management or governance committees, as appropriate.
Responsibilities:


* Work independently and collaboratively with business and model owners/users throughout the organization to review and test models and tools ongoing performance monitoring practices, testing and documentation.


* Support the development of ongoing performance monitoring plans and various testing practices, including back testing, stress testing, benchmarking, and sensitivity analysis.


* Proper identification, measurement, monitoring and reporting of sources of model risk, review model components, developmental evidence and conduct quantitative analytics to validate model efficacy.


* Review, challenge, and monitor timeliness of ongoing performance monitoring results.


* Perform model inventory review and assist with internal validation in a timely manner according to a project plan adhering to corporate policies, programs, frameworks and procedures, and meeting regulatory standards.


* Provide qualitative and quantitative feedback with support for ongoing performance monitoring and validation activities to a variety of audiences, including model users, model owners and managers.


* Present work through formal analysis/reports, as well as thorough presentation to model owners, users and senior management.


* Participate in targeted reviews and communicate with internal audit and regulatory bodies regarding model risk management and bank-wide ongoing performance monitoring.


* Develop and prioritize constructive recommendations for model changes or enhancements.


* Liaise with business units to identify, inventory, and risk assess models.


* Provide critical analysis and effective challenge of models reviewed by and/or validations p...