Model Risk Analyst

ID
2022-15733
Job Locations
US-CA-San Francisco

 

At First Republic, we care about our people. Founded in 1985, we offer extraordinary client service in private banking, private business banking and private wealth management. We believe that personal connections are everything and our success is driven by the relationships we form with our colleagues and clients. You’ll always feel empowered and valued here. 

 

Incredible teams doing exceptional work, every day

Model Risk Analyst is responsible for all aspects of Model Risk Management (MRM) activities at First Republic Bank from model risk governance to independent model validation.

Model Risk Analyst will support the model risk governance process and will be involved in the model identification process, maintenance of model inventory and issue tracker. In addition to these core duties, the Model Risk Manager also has opportunities to work on ad hoc projects within Enterprise Risk Management (ERM).  This position is supported by other MRM team members, including Model Risk Analysts, Model Risk Managers, Model Risk Directors, Model Risk VP and Model Risk Officer.

 

What you’ll do as a Model Risk Analyst:

  1. Identify and manage model risk across the model lifecycle including model development, implementation, and utilization. This includes:
    • Prepare written analysis of validation work.
    • Perform validation and provide effective challenge to model components throughout the model lifecycle, including modelling data and input, model methodology and performance, model implementation and ongoing monitoring, model assumptions and limitation, and model governance and documentation.
    • Manage interaction with model owners and developers during the model lifecycle.
    • Present model validation results, including findings and model ratings, to model owners, users, senior management and, when requested, regulators and internal audit.
    • Review and monitor the remedial actions taken by model owners and developers to ensure the findings are properly and timely addressed.
    • Prepare materials for MRM Working Group
  1. Assist in model governance activities such as model inventory, model documentation library, and validation calendar.
  2. Support the execution of various reporting projects in compliance to model risk management policy and procedures.
  3. Contribute to strategic, cross-functional initiatives within ERM.

 

 

You could be a great fit if you have:

  • A bachelor’s degree in Economics, Finance or Business; MBA or MS degree preferred but not required
  • Prior work experience is not required but 1 to 2 years of financial services industry experience, ideally in model risk governance or model risk audit
  • Excellent verbal and written communication skills; must be able to communicate effectively, professionally and with tact with all levels of personnel whether in person, on the phone or via email
  • Demonstrated ability to work as part of an analytical team, and to lead analysis with minimal supervision
  • Ideally the incumbent should be familiar with the regulatory requirements on Model Risk Management.
  • Ability to work independently as well as collaborate with colleagues
  • Prior experience in risk management or risk assessment experience at a financial institution or in consulting preferred
  • Ability to work with databases and write queries using SQL
  • Programming skills in one of script languages such as SAS, R or Python is a plus

We believe that a diverse range of backgrounds and ideas has and will continue to be fundamental to the future success of First Republic. 

 

If you are curious to learn more about this opportunity, we'd love to hear from you.

 

Own your work and your career - apply now

Are you willing to take initiative and make decisions? Are you willing to go the extra mile because you love what you do and how you can contribute as a team? Do you want the freedom to grow and the opportunity to take charge of your own career? If so, then come join us.

 

If you only meet some of the requirements for this role, that's okay. We value a diverse range of backgrounds and ideas and believe this is fundamental for our future success. So, if you have the curiosity to learn and the willingness to teach what you know, we'd love to hear from you.

 

We want hard working team players. You’ll have the independence to learn, lead and drive change. A culture of extraordinary service, empowerment and stability—that’s the First Republic way. Come join us!

 

This job description is not intended to be all-inclusive. Employee may perform other related duties as assigned to meet the ongoing needs of the organization. The Company is an equal opportunity employer. In this regard, the Company makes reasonable accommodations for qualified applicants and employees with disabilities in order to enable them to perform all essential job functions, unless doing so creates an undue hardship.

 

First Republic is subject to federal laws that restrict the employment of individuals with certain types of criminal histories, including FDIA Section 19 and FINRA. To the extent not inconsistent with our obligations under those federal laws and regulations, First Republic will consider qualified candidates with criminal histories in a manner consistent with the Los Angeles and San Francisco ban-the-box laws.

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