The Opportunity
This is a remote opportunity in the US and new hire must be able to work EST business hours regardless of geographic location.
The Senior Analyst , Model Validation is responsible for executing best-practice model testing and validation activities to ensure models across Ally are conceptually sound relative to their intended use, executing the appropriate controls, and performing appropriately. Furthermore, the Model Validation Senior Analyst will be relied upon for coaching and developing of analysts, process improvement, and contributing to the advancement of QATs and Models within Ally.
The Work Itself
- Validate the performance and controls of quantitative models across All
- Identify risks and provide recommendations to mitigate those risks
- Document and present findings to the Model validation leader and Senior management
- Develop and maintain effective partnerships with participants / stakeholders within Ally's model risk management community
- Promote knowledge sharing with other analysts in MRM
- Provide thoughts for leadership to advance model risk management through presentations, workshops, demonstrations, and automation
The Skills You Bring
Master's degree in economics, mathematics, finance, statistics, risk management, computer science, or any related field is requiredPh.D. in finance, economics, statistics or related field is preferred3+ years experience required. 3+ years banking / financial services industry highly preferredQuantitative model development or model validation required.Intermediate knowledge of Python or R and SQL is requiredFamiliarity with market risk, credit risk (underwriting, CECL loss reserving, portfolio management), operational risk measurement, and stress testing methodologies / quantitative analyticsFamiliarity with regulatory guidance in the model space (i.e. SR 11-7)Knowledge of applied statistics such as Regression Analysis, Machine Learning Methodology , Importance Sampling, Variable Selection Techniques, etc.Ability to assess model conceptual soundness, inherent weaknesses, performance, and controlsAbility to challenge model frameworks through benchmark / challenger model development using advanced modeling techniquesDemonstrated analytical approach to complex processesAdvanced knowledge of a statistical programming package is requiredStrong technical writing and verbal communication skills are requiredSuperior time management skills are requiredHow We'll Have Your Back
Ally's compensation program offers market-competitive base pay and pay-for-performance incentives (bonuses) based on achieving personal and company goals. Our Total Rewards program includes industry-leading compensation and benefits plus additional incentives that are designed to meet your needs and those of your family so you can get the most out of your career and your life, including :
Time Away : Program starts at 20 paid time off days in addition to 11 paid holidays and 8 hours of volunteer time off yearly (time off days are prorated based on start date and program varies based on full or part-time status and management level).Planning for the Future : plan for the near and long term with an industry-leading 401K retirement savings plan with matching and company contributions, student loan pay downs and 529 educational save up assistance programs, tuition reimbursement, employee stock purchase plan, and financial learning center and financial coach access.Supporting your Health & Well-being : flexible health and insurance options including medical, dental and vision, employee, spouse and child life insurance, short- and long-term disability, pre-tax Health Savings Account with employer contributions, Healthcare FSA, critical illness, accident & hospital indemnity insurance, and a total well-being program that helps you and your family stay on track physically, socially, emotionally, and financially.Building a Family : adoption, surrogacy and fertility assistance as well as paid parental and caregiver leave, Dependent Day Care FSA back-up child and adult / elder care days and childcare discounts.Work-Life Integration : other benefits including Mentally Fit Employee Assistance Program, subsidized and discounted Weight Watchers® program and other employee discount programs.Other compensations : depending on the role for which you are considered, you may be eligible for travel allowances, relocation assistance, a signing bonus and / or equity.