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Quantitative Analyst - Modeling and Audit (Chicago)
Quantitative Analyst - Modeling and Audit (Chicago)Request Technology, LLC • Chicago, IL, United States
Quantitative Analyst - Modeling and Audit (Chicago)

Quantitative Analyst - Modeling and Audit (Chicago)

Request Technology, LLC • Chicago, IL, United States
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Quantitative Analyst, Modeling and Audit

Salary : Open

Location : Chicago, IL

Hybrid : 3 days onsite, 2 days remote

  • Open to H1B transfer

Qualifications

  • Bachelors degree required. Masters degree in mathematics or Statistics, Financial Engineering, Economics, or other field possessing strong quantitative, analytical, and problem-solving skills. Alternatively, a Ph. D degree majored in quantitative field and over 1 year of work experience.
  • 5+ years of experience in model risk management methodology.
  • Experience using the principles, practices, and techniques involved in conducting audits in accordance with the requirements set forth in the Global International Audit Standards (IIA GIA).
  • Experience in Internal Audit, Model Risk Management, Financial Services / Securities Industry and working with regulatory organizations such as : Securities and Exchange Commission (SEC), Commodity Futures Trading Commission (CFTC), Financial Industry Regulatory Authority (FINRA), Federal Reserve.
  • Experience in evaluating complex derivatives and performing advanced statistical analysis on underlying risk factors.
  • Experience with reviewing credit / counterparty risk and stress testing models for derivative instruments (e.g., Historical VaR, Monte Carlo, TIMS and SPAN).
  • Experience in data analysis and programming languages such as Python, C++, and Java.
  • Experience in executing model risk audits.
  • Responsibilities

  • Lead or execute quantitative reviews / audits / validations (conceptual soundness, documentation, data, methodology, development code, testing, and implementation for accuracy) of models or financial risk tools used for credit risk, market risk, liquidity risk and stress testing.
  • Support financial risk management audits and validations as required.
  • Effectively communicate complex technical quantitative analysis (based on data and models), principles, methods, and approach to relevant stakeholders.
  • Perform audit activities including risk assessments, audit planning, audit testing, control evaluation, and complete work paper documentation in accordance with Internal Audit requirements (e.g. IIA GIA).
  • Communicate identified findings and enhancements to audit management and key stakeholders.
  • Draft audit reports clearly communicate overall conclusions, key risks, findings and their root cause, and impact on company overall risk exposure.
  • Perform continuous monitoring of model risk identifying patterns and trends to understand their impact on company overall risk level and controls.
  • Effectively challenge risk management (first and second lines of defense) to adopt appropriate policies, procedures, and effective controls designed to mitigate financial risk.
  • Support the development or enhancement of audit procedures and templates for auditing financial risk management.
  • Support in developing and implementing data analytics and automated testing.
  • Ensure audit quality, accuracy of results, and delivery in a timely manner.
  • Proactively identify regulatory, operational, and / or strategic risks to the organization and present them to IA leadership.
  • Coach and develop junior audit staff in financial risk management practices as part of their on-going development.
  • Maintaining an understanding of policies, procedures, standards, and supporting technologies, and educating staff accordingly, to effectively identify potential risks and alternatives to mitigate risk exposure leveraging leading practices.
  • Ability to understand and apply professional principles and standards (e.g., AICPA, IIA GIA, COSO) and the relevancy to risk management and impact on policies and procedures. In addition, leveraging these principles and standards to test and evaluate corporate risk management processes and controls.
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