First Interstate Bancsystem Inc
Model Risk Management Analyst II
First Interstate Bancsystem Inc, Denver, Colorado, United States, 80285
**If you are a current FIB employee, please apply through the Career Worklet in the Employee Portal. This position may be located at any of the offices within First Interstate Bank's fourteen state footprint, including Arizona, Colorado, Idaho, Iowa, Kansas, Minnesota, Missouri, Montana, Nebraska, North Dakota, Oregon, South Dakota, Washington and Wyoming.
What's Important to You We know your career is just one aspect of a meaningful, complex, and demanding life. That's why we designed our compensation and benefits package to provide employees and their families with as much choice as possible. Generous Paid Time Off (PTO) in addition to paid federal holidays. Student debt employer repayment program. 401(k) retirement plan with a 6% match. The health and happiness of the places we call home matter to us. Learn a little more about what we do for the communities we serve, and why we want YOU to be a part of it. We encourage you to apply. Reach for what you want and tell us why your work ethic and willingness to learn make you a natural fit for #TeamFirstInterstate.
SUMMARY Plays a crucial role in supporting model risk management initiatives and governance to support enhancing and maturing our Model Risk Management Program. Has experience in key areas of MRM, including model development, implementation and use, model testing and validation, ongoing monitoring, and tracking and reporting the Bank's individual and aggregate model risks. Required to collaborate and communicate with various stakeholders including senior risk officers, leadership, and external vendors to support the overall MRM activities and requirements. Requires a general understanding of the various model approaches and techniques commonly used for credit risk, liquidity risk, interest rate risk, capital stress testing, fraud detection and prevention, credit underwriting, and BASA/AML. Requires analytical skills, attention to detail, and the ability to work both collaboratively and independently while fostering a risk-aware culture. Requires initiative, judgment, and the application of foundational risk management skills for the position. Requires knowledge and understanding of regulation and guidance applicable to MRM.
ESSENTIAL DUTIES AND RESPONSIBILITIES include the following: other duties may be assigned. Facilitates the implementation of the model risk management policy, framework, standards and procedures and ensures alignment with regulatory requirements and best practices. Conducts model validations across a diverse range of models used in credit risk, market risk, operational risk, and other areas. Collaborates with model owners and developers to ensure robust model governance and lifecycle management, including model development, implementation, use, validation, testing, and ongoing performance monitoring. Provides strategic guidance and expertise on model risk to various stakeholders throughout the bank. Monitors the model risk landscape and reports emerging risks and regulatory changes. Facilitates effective communication, tracking, reporting on model risk issues, validation findings, and risk mitigation strategies to key stakeholders Partners with third parties and manages relationships that provide external validation support and consultation. Creates and maintains regulatory reporting, as required. Works with people at all levels in the organization from senior business-unit leaders, including the Executive management, Legal, Compliance, Privacy, Technology teams and business partners to maintain a cohesive and informed Model Risk Management program.
EDUCATION and/or QUALIFICATIONS Bachelor's degree in finance, economics, statistics, mathematics, or a related field. Advanced degree preferred. 3-5 years of experience in model risk management, or a related area within a bank or other financial institution. Demonstrated knowledge of regulatory requirements related to MRM, partic larly SR 11-7, SR 21-8, and the OCC Comptroller's Handbook on MRM. Familiarity with SR 10-1, SR 10-6, and SR 12-7 preferred. Strong analytical skills with the ability to assess complex models and understand their impact on the bank's risk profile and financial performance. Excellent leadership and team development skills, with the ability to manage and motivate a high-performing team. Effective communication skills, both written and verbal, with the ability to engage with and influence stakeholders at all levels. Proficiency in statistical software packages and tools relevant to model development and validation.
LANGUAGE SKILLS Ability to read, analyze, and interpret general business periodicals, professional journals, technical procedures, or governmental regulations. Ability to effectively present information and respond to questions from groups of managers, clients, customers, and the public.
MATHEMATICAL SKILLS Ability to work with mathematical concepts such as probability and statistical inference, and fundamentals of plane and solid geometry and trigonometry. Ability to apply concepts such as fractions, percentages, ratios, and proportions to practical situations.
REASONING ABILITY Ability to define problems, collect data, establish facts, and draw valid conclusions. Ability to interpret an extensive variety of technical instructions in mathematical or diagram form and deal with several abstract and concrete... For full info follow application link.
Our company is an equal opportunity employer. Employment here is based solely
What's Important to You We know your career is just one aspect of a meaningful, complex, and demanding life. That's why we designed our compensation and benefits package to provide employees and their families with as much choice as possible. Generous Paid Time Off (PTO) in addition to paid federal holidays. Student debt employer repayment program. 401(k) retirement plan with a 6% match. The health and happiness of the places we call home matter to us. Learn a little more about what we do for the communities we serve, and why we want YOU to be a part of it. We encourage you to apply. Reach for what you want and tell us why your work ethic and willingness to learn make you a natural fit for #TeamFirstInterstate.
SUMMARY Plays a crucial role in supporting model risk management initiatives and governance to support enhancing and maturing our Model Risk Management Program. Has experience in key areas of MRM, including model development, implementation and use, model testing and validation, ongoing monitoring, and tracking and reporting the Bank's individual and aggregate model risks. Required to collaborate and communicate with various stakeholders including senior risk officers, leadership, and external vendors to support the overall MRM activities and requirements. Requires a general understanding of the various model approaches and techniques commonly used for credit risk, liquidity risk, interest rate risk, capital stress testing, fraud detection and prevention, credit underwriting, and BASA/AML. Requires analytical skills, attention to detail, and the ability to work both collaboratively and independently while fostering a risk-aware culture. Requires initiative, judgment, and the application of foundational risk management skills for the position. Requires knowledge and understanding of regulation and guidance applicable to MRM.
ESSENTIAL DUTIES AND RESPONSIBILITIES include the following: other duties may be assigned. Facilitates the implementation of the model risk management policy, framework, standards and procedures and ensures alignment with regulatory requirements and best practices. Conducts model validations across a diverse range of models used in credit risk, market risk, operational risk, and other areas. Collaborates with model owners and developers to ensure robust model governance and lifecycle management, including model development, implementation, use, validation, testing, and ongoing performance monitoring. Provides strategic guidance and expertise on model risk to various stakeholders throughout the bank. Monitors the model risk landscape and reports emerging risks and regulatory changes. Facilitates effective communication, tracking, reporting on model risk issues, validation findings, and risk mitigation strategies to key stakeholders Partners with third parties and manages relationships that provide external validation support and consultation. Creates and maintains regulatory reporting, as required. Works with people at all levels in the organization from senior business-unit leaders, including the Executive management, Legal, Compliance, Privacy, Technology teams and business partners to maintain a cohesive and informed Model Risk Management program.
EDUCATION and/or QUALIFICATIONS Bachelor's degree in finance, economics, statistics, mathematics, or a related field. Advanced degree preferred. 3-5 years of experience in model risk management, or a related area within a bank or other financial institution. Demonstrated knowledge of regulatory requirements related to MRM, partic larly SR 11-7, SR 21-8, and the OCC Comptroller's Handbook on MRM. Familiarity with SR 10-1, SR 10-6, and SR 12-7 preferred. Strong analytical skills with the ability to assess complex models and understand their impact on the bank's risk profile and financial performance. Excellent leadership and team development skills, with the ability to manage and motivate a high-performing team. Effective communication skills, both written and verbal, with the ability to engage with and influence stakeholders at all levels. Proficiency in statistical software packages and tools relevant to model development and validation.
LANGUAGE SKILLS Ability to read, analyze, and interpret general business periodicals, professional journals, technical procedures, or governmental regulations. Ability to effectively present information and respond to questions from groups of managers, clients, customers, and the public.
MATHEMATICAL SKILLS Ability to work with mathematical concepts such as probability and statistical inference, and fundamentals of plane and solid geometry and trigonometry. Ability to apply concepts such as fractions, percentages, ratios, and proportions to practical situations.
REASONING ABILITY Ability to define problems, collect data, establish facts, and draw valid conclusions. Ability to interpret an extensive variety of technical instructions in mathematical or diagram form and deal with several abstract and concrete... For full info follow application link.
Our company is an equal opportunity employer. Employment here is based solely