Risk Data Analytics & Model Risk – ()
Description
JOB PURPOSE
Equity Group uses a significant number of models in different areas including business decisioning, regulatory and compliance purposes. Reliance on the models will increase exponentially in the coming years to support the ARRP. Although the use of models provides significant efficiency, transparency, and consistency in the decisioning process, the models themselves represent a new source of risk (Model risk). This role mitigates the potential for model output to incorrectly inform management decisions which may lead to financial loss, poor business decision making, noncompliance with regulations or damage to a banking organization reputation.
The role involves creation and automation of data driven dashboards and insights, maintenance of risk models, ensuring compliance with regulatory requirements, and providing strategic insights to senior management. The ideal candidate will possess strong analytical skills, extensive experience in risk management and data analytics, and the ability to lead a team of risk analysts.
Qualifications
Job responsibilities/Accountabilities
- Create data integration capabilities to integrate data from different organization systems and software as service (SaaS) and create visualization tools for informed decision making.
- Analyze and interpret complex data to identify risk exposures and trends.
- Provide actionable insights and recommendations to senior management based on data analysis.
- Collaborate with IT and data management teams to ensure data integrity and availability.
- Evaluating conceptual soundness, data quality, methodology, and implementation of models used.
- Developing and implementing a comprehensive validation strategy that aligns with regulatory requirements.
- Overseeing the documentation of model validation processes, findings, and recommendations in compliance with regulatory standards and internal policies.
- Developing policies, frameworks and procedures for effective Model Risk Management.
- Continuous monitoring & stakeholder communication.
Required Skills & Qualifications
- Bachelor’s Degree in a quantitative field such as Mathematics, Statistics, Actuarial Science, Engineering, Data Science, Economics, or a related field
- Understanding of Basel framework and other model risk regulations.
- Proficiency in statistical software (e.g., SQL, R, Python).
- Data integration tools like ETL & API, data visualization tools (e.g., Tableau, Power BI), and risk management system.
