Risk Model Validation Associate
4 weeks ago
Make a meaningful impact in the world of finance.
Mitsubishi UFJ Financial Group (MUFG) is a global leader in the financial industry, with 120,000 colleagues worldwide striving to make a difference for every client, organization, and community we serve.
We're seeking a highly skilled Model Validation Quantitative Associate - Market Risk to join our team, focusing on independent model validation and performance monitoring.
Key Responsibilities:
- Assess the conceptual soundness, evaluate model assumptions and data integrity, testing model numerical, statistical, and/or computational accuracy.
- Validate numerical, statistical, and mathematical model related to market risk, assessing the conceptual soundness, evaluating model assumptions and data integrity, computational accuracy, and reviewing model governance and control process.
- Verify model performance, correct implementation, limiting behavior, and response to stress/extreme input conditions.
Program Enhancement:
- Develop, maintain, and implement the Bank's Model Risk Management Program.
- Establish standards for managing areas of model risk, including development, implementation, governance, and documentation.
- Consult with model users on the design of effective model operational controls.
Maintain Model Inventory:
- Conduct model/non-model assessment.
- Coordinate the resolution of findings with model owners and users, recommend management action plans, and track remediation progress.
- Perform Annual Inventory review.
Collaboration:
- Support relationship with regulators and internal audit.
Technical Skills:
- Experience in numerical and statistical tools, including Python, C, SAS, MATLAB, or R.
- Strong model risk management and associated regulatory requirements.
Experience and Abilities:
- 2-5 years of experience in the financial services industry, with 2+ years in Capital Markets or Fixed Income valuation.
- Proven track record of strong technical model development, model validation, and model oversight.
- Strong analytical, logical reasoning, and problem-solving skills.
Education and Training:
- Advanced degree in mathematics, finance, computer science, statistics, operational research, economics, or other quantitative fields.
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