VP, Model Validation

Banc of California • Los Angeles, CA

1d

About The Position

The Vice President, Model Validation is responsible for assisting the Bank’s
Model Risk Management with its framework and standards, model inventory, model
risk assessment, model validation and model governance. Performs all duties in
accordance with the Company’s policies and procedures, all U.S. state and
federal laws and regulations, wherein the Company operates

Requirements

• 6+ years’ experience in model validation or model development in the banking industry or consulting.
• Master’s in Economics, Finance, Mathematics and/or other related quantitative fields.
• Familiarity with model documentation requirements that meets regulatory expectations.
• Strong written and verbal communication skills.
• Familiarity with dealing with large data set.
• Experience with model validation..
• Proficiency in statistical programming skills such as in Python / R.
• Strong organizational, written and verbal communication skills.
• Ability to work independently and collaboratively.
• Ability to interface effectively and professionally with senior level management.
• Ability to multi-task several projects at once.
• Excellent attention to detail and accuracy
• Excellent organizational and time management skills.
• Proven ability to use Microsoft Office Suite (Outlook, Excel, MS Word, and PowerPoint).
• Creative and strategic thinker capable of analyzing information/processes to determine overall trends and make appropriate conclusions.
• Review and be knowledgeable of departmental and human resource’s policies & procedures

Nice To Haves

• Experience with BSA/OFAC, Payment, or Merchant Acquiring/Card Issuing model validation.
• Familiarity with AI/ML models

Responsibilities

• Conduct model validations on the Bank’s models, both in-house and vendor models, based on regulatory guidelines, the Bank’s model risk management policy and procedure, and the industry’s leading practices.
• Evaluate model assumptions and weaknesses, data relevancy and completeness, conceptual soundness, modeling methodology, outcome analysis, etc.
• Prepare a model validation report that meets the Model Risk Management’s expectations, based on the evaluation of the model, including backtesting, sensitivity testing, benchmarking, etc. and include a conclusion based on the review.
• Assist in model validation findings monitoring, reporting, and evaluating the corrective actions.
• Conduct model annual reviews including process verification, performance monitoring, degree of changes, etc. and document the findings and comments in the annual review report.
• Support senior managers to communicate findings and recommendations from model validation report to model owners and model users.
• Work closely with model owners and model users to understand the model use and business applications.
• Review on-going model monitoring report, identify potential model risks; document the findings
• Treat people with respect; keep commitments; inspire the trust of others; work ethically and with integrity; uphold organizational values; accept responsibility for own actions.
• Demonstrates knowledge of and adherence to EEO policy; shows respect and sensitivity for cultural differences; educates others on the value of diversity; promotes working environment free of harassment of any type; builds a diverse workforce and supports affirmative action.
• Follows policies and procedures; completes tasks correctly and on time; supports the company’s goals and values.
• Performs the position safely, without endangering the health or safety to themselves or others and will be expected to report potentially unsafe conditions. The employee shall comply with occupational safety and health standards and all rules, regulations and orders issued pursuant to the OSHA Act of 1970, which are applicable to one’s own actions and conduct.
• Performs other duties and projects as assigned.

Benefits

• Financial Security: You will be eligible to participate in the company’s 401k plan which includes a company match and immediate vesting.
• Health & Well-Being: We offer comprehensive insurance options including medical, dental, vision, AD&D, supplemental life, long-term disability, pre-tax Health Savings Account with employer contributions, and pre-tax Flexible Spending Account (FSA).
• Building & Supporting Your Family: Banc of California partners with providers that offer adoption, surrogacy, and fertility assistance as well as paid parental leave and family support solutions including care options for your family.
• Paid Time Away: Eligible team members receive paid vacation days, holidays, and volunteer time off.
• Career Growth Opportunities: To support career growth of our team members, we offer tuition reimbursement, an annual mentorship program, leadership development resources, access to LinkedIn Learning, and more.

What This Job Offers

• Job Type: Full-time
• Career Level: Mid Level
• Number of Employees: 501-1,000 employees