Lead Model RIsk Mangement Analyst

Westberry, NY

Job Function:

A Lead Model Risk Management Analyst provides technical and relational expertise to support the implementation and execution of bank wide model risk management policies and procedures, including model governance and performance monitoring, in conformance with regulatory guidance. This includes the review of complex models used within the organization, data analysis and the creation of new challenger models, preparation of model documentation protocols, development and maintenance of model risk reporting and maintenance of the model inventory. The lead analyst assesses model risks and limitations, makes model change recommendations, follows up with model owners and tracks ongoing model risk issues. The analyst applies advanced knowledge of and in-depth experience in stress testing, ALLL, mortgage banking, multi-family and commercial real estate lending, BSA/AML, portfolio ALM, credit risk analytics and mortgage compliance to his/her assignments.




Provides independent review of model validations, effectively assessing the validity of issues raised and methodological approaches for the proper resolution of these issues. Leads and performs independent validation of selected models to assess the conceptual soundness of model design and development, key assumptions about data transformation and imputation, the underlying statistical or econometric estimation technique, and the rigor in back-testing and ongoing model performance monitoring. Reports regularly to the Model Risk Manager on the compliance of the model risk management program, including policies and procedures, with respect to its progress, working issues, and challenges. Develops and maintains effective partnerships with model risk management analysts, model validation vendors, model owners, business level risk management teams and auditors, internal and external. Provides & effectively communicates recommendations for the design, development, back testing, implementation and recalibration of models owned by the model development team. Follows through with partners to obtain acceptance of these model recommendations in a timely manner.




An advanced degree such as a PhD in Economics, Finance, Mathematics, Computational Finance or related fields. Advanced bank risk management experience preferred and may substitute for an advanced degree. Experience with model development and/or model validation with respect to multi-family and commercial real estate lending. Five to seven years of experience developing and/or validating financial models.




Knowledge of CCAR stress testing regulations and requirements. Knowledge of banking and credit risk analysis & management, including key risk drivers. Knowledge of basic risk management concepts and principles, valuation of basic instruments and basic accounting principles.

Contact Details:

Dan Alzapiedi    914-595-5746