Model Validation Specialist
Job Location:
Charlotte, VT - USA
Monthly Salary:
Posted on:
Vacancies:
Job Summary
SMBC Group is a top-tier global financial group. Headquartered in Tokyo and with a 400-year history SMBC Group offers a diverse range of financial services including banking leasing securities credit cards and consumer finance. The Group has more than 130 offices and 80000 employees worldwide in nearly 40 countries. Sumitomo Mitsui Financial Group Inc. (SMFG) is the holding company of SMBC Group which is one of the three largest banking groups in Japan. SMFGs shares trade on the Tokyo Nagoya and New York (NYSE: SMFG) stock exchanges.
In the Americas SMBC Group has a presence in the US Canada Mexico Brazil Chile Colombia and Peru. Backed by the capital strength of SMBC Group and the value of its relationships in Asia the Group offers a range of commercial and investment banking services to its corporate institutional and municipal clients. It connects a diverse client base to local markets and the organizations extensive global network. The Groups operating companies in the Americas include Sumitomo Mitsui Banking Corp. (SMBC) SMBC Nikko Securities America Inc. SMBC Capital Markets Inc. SMBC MANUBANK JRI America Inc. SMBC Leasing and Finance Inc. Banco Sumitomo Mitsui Brasileiro S.A. and Sumitomo Mitsui Finance and Leasing Co. Ltd.
The anticipated salary range for this role is between $95000.00and $140000.00. The specific salary offered to an applicant will be based on their individual qualifications experiences and an analysis of the current compensation paid in their geography and the market for similar roles at the time of hire. The role may also be eligible for an annual discretionary incentive addition to cash compensation SMBC offers a competitive portfolio of benefits to its employees.
Role Description
The Associate Model Risk & Validation (MRV) will support the independent validation and ongoing assessment of financial crime risk and other quantitative and non-quantitative models across the Firm. The role is responsible for executing validation testing assessing model design and performance reviewing model governance and documentation and ensuring compliance with regulatory expectations and internal Model Risk Management (MRM) standards. The successful candidate will work closely with model developers business stakeholders and risk partners to identify model risks evaluate model changes and contribute to a strong model risk management framework. Exposure to Financial Crime Compliance domains including AML Fraud Sanctions Screening or Trade Compliance is desirable; however candidates with strong quantitative analytical and model risk management experience from other domains are encouraged to apply.
Role Objectives: Delivery
- Conduct independent validations of AML Fraud Trade Compliance Artificial Intelligence/Machine Learning (AI/ML) and other quantitative and non-quantitative models assessing conceptual soundness data quality methodology implementation controls and ongoing performance.
- Execute validation testing including data analysis independent replication benchmarking sensitivity analysis back-testing performance monitoring and outcome assessment to evaluate model effectiveness and fitness for purpose.
- Review model development documentation governance frameworks policies procedures and controls to ensure compliance with regulatory expectations and internal Model Risk Management (MRM) standards.
- Assess model changes including recalibration tuning segmentation parameter updates and design enhancements resulting from evolving business activities market conditions customer behavior or risk appetite.
- Identify model limitations risks and control weaknesses; communicate findings to model owners and senior stakeholders; and provide practical risk-based recommendations for remediation.
- Prepare clear concise and regulatory-ready validation reports workpapers and supporting documentation and track remediation activities through closure.
- Develop and enhance validation methodologies testing frameworks documentation templates and automation solutions to improve consistency efficiency and coverage of validation activities.
- Support internal audits regulatory examinations and governance reviews by providing validation evidence analysis and subject matter expertise.
- Maintain current knowledge of AML fraud sanctions trade compliance AI/ML governance and emerging regulatory and industry best practices.
Qualifications and Skills
- Masters degree in Statistics Mathematics Data Science Computer Science Engineering or a related quantitative discipline with 35 years of experience in Model Risk Management Model Validation AML/Fraud analytics Financial Crime Compliance or risk consulting within the financial services industry.
- Strong understanding of model validation principles statistical and data analytics techniques and regulatory expectations related to AML Fraud Trade Compliance AI/ML and other risk models.
- Proficiency in SQL and Python/R for data extraction analysis testing and automation with experience working with large datasets and exposure to cloud-based analytics environments (e.g. Azure).
- Familiarity with financial crime and risk management platforms such as Actimize Fircosoft world check or similar systems is preferred .
- Excellent analytical problem-solving and communication skills with the ability to synthesize complex data prepare clear and concise documentation and effectively communicate technical concepts and validation results to both technical and non-technical stakeholders including senior management and auditors
SMBCs employees participate in a Hybrid workforce model that provides employees with an opportunity to work from home as well as from an SMBC office. SMBC requires that employees live within a reasonable commuting distance of their office location. Prospective candidates will learn more about their specific hybrid work schedule during their interview process. Hybrid work may not be permitted for certain roles including for example certain FINRA-registered roles for which in-office attendance for the entire workweek is required.
SMBC provides reasonable accommodations during candidacy for applicants with disabilities consistent with applicable federal state and local law. If you need a reasonable accommodation during the application process please let us know at
Required Experience:
IC
