Model Risk Analyst, CCAR / CECL Model Validation (Remote)

Overview

This is a remote role that may be hired in several markets across the United States.

This position is within First Citizens Bank’s Model Risk Management (MRM) team and plays a critical role in ensuring the integrity, reliability, and regulatory compliance of the bank’s credit risk models. The primary focus is on the independent validation of models used for CCAR (Comprehensive Capital Analysis and Review) stress testing and CECL (Current Expected Credit Loss) frameworks, both of which are essential components of the bank’s risk management and capital planning processes. The models supported by this role span a broad range of lending portfolios, including Residential Mortgages, Credit Cards, Auto Loans, Home Equity Lines of Credit (HELOC), Commercial & Industrial (C&I) Loans, Commercial Real Estate (CRE), Equipment Finance, and Innovation Economy segments.

The analyst will collaborate with validation manager and director to conduct independent model validations for one or more specific areas based on their background and expertise. This role provides an excellent opportunity for the analyst to rotate within the team, gaining a comprehensive and holistic understanding of CCAR stress testing and CECL frameworks.

Responsibilities

Comprehensive Model Validation :

Conduct thorough and comprehensive validations of various model components, ensuring that they are accurate, reliable, and aligned with the intended business objectives and regulatory requirements. This includes but is not limited to :

Model Inputs Analysis :

Apply data analysis techniques to assess the quality, integrity, and appropriateness of data used in the models. Examine data extraction, cleaning, transformation processes, and evaluate data-related assumptions and limitations.

Model Framework Evaluation :

Scrutinize the model design and construction, verifying the suitability of the modeling framework and theory for the intended use. Review model segmentation, variable selection, model testing procedures, and evaluation model assumptions, limitations, and risks.

Model Code Review :

Review model code to ensure correctness, accuracy, and absence of material errors. Collaborate with model owners to address any identified issues.

Outcomes Analysis :

Assess both in-sample and out-of-sample back test results; evaluate sensitivity and scenario testing, stress testing, and quantitative and business performance metrics.

Benchmark Model Development :

Develop models using alternative approaches to assess the performance of the champion model against benchmark models.

Risk Identification and Mitigation :

Provide effective challenges and identify potential model risks. Recommend appropriate mitigation measures and enhancements to improve model quality and compliance with regulatory standards.

Documentation and Reporting :

Produce high-quality, comprehensive validation reports that clearly communicate findings, recommendations, and potential risks to both technical and non-technical stakeholders. Ensure that validation documentation adheres to internal standards.

Audit and Regulatory Review Support :

Assist model validation manager in gathering and providing materials requested by internal audit and regulators, drafting responses to questions, and defending validations in exams.

Continuous Learning and Improvement :

Stay up-to-date with emerging trends and best practices in model validation and regulatory requirements. Contribute to the enhancement of the model validation framework by suggesting process improvements and implementing industry-leading methodologies.

Qualifications

Bachelor's Degree and 6 years of experience in OR High School Diploma or GED and 10 years of experience in

Risk Analytics or Analytics.

Preferred Qualifications :

Advanced degree (Master's or Ph.D.) in a quantitative field (e.g., Statistics, Data Science, Economics, Applied Mathematics, Engineering, or a related discipline).

This position is open to candidates at both junior and senior levels, depending on experience.

Applicants with

2+ years of relevant experience

may be considered for the

Risk Analyst III

role, while those with

5+ years of experience

may qualify for the

Senior Risk Analyst

position.

Proficiency in modeling techniques (e.g., linear regression, logistic regression, survival analysis, time series model, machine learning) and programming languages (e.g., SAS, Python, R, SQL)

Strong understanding of regulatory requirements, particularly those related to stress testing and capital planning.

Excellent problem-solving skills, attention to detail

Excellent written and verbal communication skills.

This job posting is expected to remain active for

45 days

from the

initial

posting date listed above. If it is necessary to extend this deadline, the posting will remain active as

appropriate

• . Job postings may come down early due to business need or a high volume of applicants.

he base pay for this position is

generally between

$90,000.00 and $150,000.00. Actual starting base pay will be

determined

based on skills, experience, location, and other non-discriminatory factors

permitted

by law. For some roles, total compensation may also include variable incentives, bonuses, benefits, and / or other awards as outlined in the offer of employment.

Benefits are an integral part of total rewards and First Citizens Bank is committed to providing a competitive, thoughtfully designed and quality benefits program to meet the needs of our associates. More information can be found at https : / / jobs.firstcitizens.com / benefits.

Company Description :

Founded in 1898 and headquartered in Raleigh, N.C., First Citizens Bank serves customers in 18 states and the District of Columbia. For over 100 years, customers have trusted First Citizens with their money … and their futures. Today, First Citizens is the largest family-controlled bank in the nation and the sixth-largest bank franchise headquartered in the Southeast with more than $30 billion in assets. We employ more than 6,000 associates who are focused on helping our customers achieve a lifetime of success. First Citizens operates more than 570 branches in Arizona, California, Colorado, District of Columbia, Florida, Georgia, Kansas, Maryland, New Mexico, Missouri, North Carolina, Oklahoma, Oregon, South Carolina, Tennessee, Texas, Virginia, Washington and West Virginia.

First Citizens Bank. Forever First®. Member FDIC.

Equal Opportunity / Affirmative Action Employer / Minority / Female / Disability / Veteran

If you need special assistance or an accommodation in applying for employment at First Citizens Bank, please contact our Human Resources department.