Senior Model Job Description
Senior model
provides support and competent advice on all matters related to the internal risk based capital models and regulatory capital models.
Senior Model Duties & Responsibilities
To write an effective senior model job description, begin by listing detailed duties, responsibilities and expectations. We have included senior model job description templates that you can modify and use.
Sample responsibilities for this position include:
Manage the Model Risk Management and Model Risk Governance workflow of activities
Establish overall project governance, reporting and interaction processes to drive disciplined project execution
Facilitates and/or manages the gathering of business requirements for the Model Risk Management workflow and reporting tool
Ensure the ongoing control and validation of models for responsible units
Maintain & update model inventory for the responsible units and ensure timely model re-review
Perform reviews of existing model documentation
Analyze empirical model performance using statistical techniques such as back-testing, scenario analysis, stress-testing, stability and sensitivity testing, and benchmarking against self-developed challenger models
Oversee quality control of internal and consultant-produced model documentation, model validation reports, annual model reviews, and ongoing monitoring, as assigned
Technical review of risk models, including performing quantitative analyses
Delivering high quality validation reports (read by senior management, CRO staff, DNB
Senior Model Qualifications
Qualifications for a job description may include education, certification, and experience.
Licensing or Certifications for Senior Model
List any licenses or certifications required by the position: FRM, PRM, CFA, ITIL, SAS, CSM, CQF, COBIT, ARM, MISRA
Education for Senior Model
Typically a job would require a certain level of education.
Employers hiring for the senior model job most commonly would prefer for their future employee to have a relevant degree such as Master's and Bachelor's Degree in Statistics, Mathematics, Finance, Economics, Engineering, Physics, Computer Science, Graduate, Business, Education
Skills for Senior Model
Desired skills for senior model include:
DODI 5000.02 and JCIDS process
Regulatory requirements
Abstraction
Aggregation
Financial theory
High cohesion
Loose coupling
Methods
Pricing and valuation models
Risk related models and stress testing models
Desired experience for senior model includes:
Good team player who is also very comfortable with working independently
Sufficient programming experience, such as C++ and/or VBA
Familiarity with data bases such as SQL, ORACLE, etc data acquisition software
Undergraduate degree – technical or other analytical field, preferably a graduate degree in mathematics or computer science
Preferably having or working towards an actuarial designation
Perform independent validation of banking-book models used by Banking, Insurance and Global Functions (BI&GF) which contain significantly qualitative modeling components
Senior Model Examples
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Senior Model Job Description
Job Description Example
Our growing company is looking for a senior model. To join our growing team, please review the list of responsibilities and qualifications.
Responsibilities for senior model
- Act as a trusted advisor and effective challenger to model developers and users on all matters pertaining to model risk
- Engage Front Office, Market Risk and related function groups personnel as necessary to pro-actively identify, assess, monitor, and manage quantitative model risks
- Pro-actively identify, assess, monitor, and manage quantitative model risks
- Model Vetting/Validation
- Model Implementation
- Model risk mitigating techniques throughout the life cycle of the model
- Plan and manage execution of audit assignments involving assessment of models and model risk controls
- Define scope and plan risk based audit activities
- Identify and fully understand information technology functions supporting business processes
- Schedule audit assignments, identify audit skills required to achieve deliverables and allocated resources, if required
Qualifications for senior model
- Experience in either developing or validating risk models such as credit risk rating/parameter estimation models, economic capital models and stress testing models is an asset
- Proficiency in relevant programming languages such as SAS and/or Matlab is required
- Advanced degree in quantitative fields such as Mathematics, Physics, Computer Science, Financial Mathematics, Financial Engineering (Master or above, Ph.D.preferred)
- 3 to 5 years experience in quantitative positions such as model development or model validation
- Ability to supervise independently deliver work assignments efficiently
- Constructive conflict management ability
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Senior Model Job Description
Job Description Example
Our company is growing rapidly and is looking to fill the role of senior model. Thank you in advance for taking a look at the list of responsibilities and qualifications. We look forward to reviewing your resume.
Responsibilities for senior model
- You will analyze the EMI data to spot trends, and support strategic initiatives and enhance the reporting to downstream model business and development owners
- Monitor status of model remediation items and facilitate the resolution or escalation of issues in a timely fashion
- Maintain strong relationships with senior level functional group personnel and conduct regular business and risk discussions
- Validate IRC models, Moody’s CDOnet models, and other issuer credit related models
- Work across HP to integrate the use of should cost modeling through the product
- Partner across HP’s supply chain and business units to manage and prioritize should
- Evaluate model assumptions and weaknesses data relevancy and completeness conceptual soundness modeling methodology outcome analysis
- Identify opportunities for improvement based on benchmark data and doing high-level cost benefit analysis
- Develop a high level design which supports robust solutions, taking into account the user requirements, technical requirements
- Provide timely responses to Front Office, Market Risk and Global Valuations inquiries regarding model risk management
Qualifications for senior model
- Constructive conflict-solving ability
- Understanding for Transaction Monitoring systems
- Advanced understanding of statistical modeling, econometric forecasting, machine learning, data extraction and processing techniques
- Advanced degree in Mathematics, Statistics, Econometrics, Physics, Computer Science, Financial Mathematics, Financial Engineering (Master or above, Ph.D.preferred), in combination with business education
- Familiarity with various databases including Microsoft SQL Server, Teradata, SAS, Oracle
- Hands on programming skills, particularly staistical and database modeling tools (SAS, MATLAB, Access/VBA)
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Senior Model Job Description
Job Description Example
Our company is growing rapidly and is hiring for a senior model. If you are looking for an exciting place to work, please take a look at the list of qualifications below.
Responsibilities for senior model
- Keep abreast on latest development on derivatives modelling issues
- Develop benchmark models to validate core analytics of submitted models
- Structure and carry out statistical tests on performance data (Backtesting, Benchmarking, Sensitivity Analysis) in order to give opinions on the accuracy and consistency of ratings and credit risk quantification systems, ICAAP models, front-end models, their compliance with the Basel Accord and the Bank's internal policies
- Validate models used to assess the P/L and risk measures (VaR, stressed VaR, expected shortfall)
- Be completely familiar with the models used to asses complex derivatives
- Validate the process for stress testing and backtesting market risk models
- Validate the ICAAP models related to market risk and make sure they comply with the Basel Accords
- Validate the models used to assess the risks associated with new or existing derivatives, including the use of Monte Carlo simulations and stress scenarios
- Validate advanced DSR models, stressed DSR, IRC, CVA, DVA, FVA
- Participate in developing and implementing new applications and improving existing systems to enhance the risk management process
Qualifications for senior model
- At least 5 years of work experience in mathematical modeling in a similar or related role, such as a model developer or validator, a front office quant, a risk quant, or a risk manager, most preferably in a large financial institution
- Proven ability to be self-directed while working under tight deadlines
- Excellent understanding of demand models, production forecasting, purchasing practices, terminology, finance and supply chain principles
- Strong experience of project management principles and methodologies
- High aptitude for acquiring knowledge, including branch regulations, policies, procedures, systems, operations and functions
- Solid knowledge of credit risk rating systems, credit VaR methodologies such as CreditManager, financial modeling, and statistical analysis/modeling
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Senior Model Job Description
Job Description Example
Our company is growing rapidly and is looking to fill the role of senior model. To join our growing team, please review the list of responsibilities and qualifications.
Responsibilities for senior model
- Participate in and/or lead the development of deliverable content that meets the needs of the client
- Participating in regulatory projects
- Developing high-level business plans for making existing app products profitable
- Supporting potential projects by evaluating relevant market conditions and providing recommendations of concept viability
- Actively consult and support the implementation of the business model throughout the
- Manage related new model preparations for Quality Division and Field including
- Manage the delivery of off tool, off process 100% accurate parts and final part approval for responsible commodities
- Confirm supplier manufacturing capacity status and ensure no negative impact to supply and quality during new model launch
- Work closely with PD and manufacturing to ensure robust design and capable manufacture process
- Lead the development and implementation of quality principles internally and with suppliers
Qualifications for senior model
- Experience in either developing or vetting or validating risk models such as credit risk rating models, market risk VaR models, counterparty credit risk models, and economic capital models
- Proficient in relevant programming languages such as C++, C, Matlab and SAS
- Graduate/Post Graduate qualifications in statistics, econometrics, mathematics or any other quantitative discipline
- Basic knowledge of UNIX and Mainframe
- Knowledge/experience of developing/validating statistical models preferred
- Ability to work independently and collaboratively with team members across geographies
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Senior Model Job Description
Job Description Example
Our company is growing rapidly and is looking for a senior model. Please review the list of responsibilities and qualifications. While this is our ideal list, we will consider candidates that do not necessarily have all of the qualifications, but have sufficient experience and talent.
Responsibilities for senior model
- Responsible to ensure model developments meet regulatory and/or internal Group standards and where not, identify and propose actions to address issues
- Responsible for reviewing output, identifying issues, proposing recommendations for projects being worked on
- Responsible for all model documentation ensuring up to date and accurate on projects leading
- Responsible for overall quality and delivery to timescales of work to come out of projects work stream
- Proactive escalation of issue and concerns
- Proactive support to manager in contributing to the running and development of the team
- Assigning, scheduling, training, reviewing and monitoring project work to ensure the progress is within expected guidelines and is completed on time and within budget
- Working with related parties to develop project scope of work documents and project plans that include an analysis of benefit, cost, work schedule and any related risks
- Tracking of progress and raising key risks and issues
- Ensuring documentation is maintained around detailed scope and business requirements
Qualifications for senior model
- Ability to communicate and interact on a regular basis with stakeholders across all levels
- Adopt a pro-active communication engagement strategy to anticipate future business needs
- Undertake model validations for wholesale rating models
- Undertake validation of stress-testing models
- Contribute to overall team development through participation in knowledge sharing and training activities
- Experience in actuarial modeling systems and programming software such as GGY Axis, ALFA, PolySystems, SQL, C++, and VBA preferred