Model Validation Director - Market & Interest Rate

Company: Santander Holdings USA Inc
Location: New York
Posted on: February 13, 2025

Job Description:

Model Validation Director - Market & Interest RateBoston, United States of AmericaThe Director, Risk Modeling is responsible for leading and overseeing projects associates with the Company's quantitative models, model design, and model misuse of a model or its output. The incumbent is responsible for executing model risk management activities consistent with the framework, industry best-practice and regulatory guidance.

• Develops new methodologies and approaches to the management of model risk.
• Promotes a risk management culture by encouraging team to embrace appropriate risk practices and supporting team members in fulfilling risk management responsibilities.
• Proactively identifies areas of issues or concerns related to potential gaps in existing processes, procedures, policies, frameworks.
• Informs perspective on market environment, future trends, and emerging risk issues.
• Responds to required corrective actions in a timely and complete manner.
• Assess and evaluates model conceptual soundness, model assumptions, and data integrity.
• Tests risk model numerical, statistical, and computational accuracy; performs outcomes analysis; and reviews model governance and control process.
• Communicates with senior management on risk modeling, decision, and data for improved efficiency, effectiveness, and/or risk reduction to the company.
• Executing model risk management activities and projects consistent with the Enterprise MRM framework, industry best-practice and regulatory guidance.
• Monitors activities to minimize the company's exposure to model risk.
• Activities may include quantitative analysis, risk identification and remediation.
• Represents or supports the reputation of the company to minimize compliance and regulatory risk by resolving issues and ensuring adherence to company and legal standards.
• Responsible for ensuring that all of the company's activities adhere to the necessary rules and regulations, and that the company complies with legal/regulatory statutes and jurisdictions. -Qualifications:
  • Education: Bachelor's Degree in Mathematics, Physics, Statistics or equivalent quantitative field or equivalent work experience required. Master's Degree in Mathematics, Physics, Statistics or equivalent quantitative field preferred.
  • Work Experience: 9+ Years of experience with model risk management in Interest/Liquidity rate risk, Credit risk and/or Market Risk.
  • Demonstrated strong skills using Python, SAS, R and MATLAB.
  • Technical experience with term structure models, prepayment models, credit loss models, Market Risk Rule models, and ALM framework
  • Comprehensive knowledge of front to back risk mgmt. processes, including: Interest/Liquidity rate risk, Credit risk, Market risk, Risk identification, assessment, mitigation and control, Governance and reporting, Monitoring and testing, Operational risk modeling, capital calculation and Knowledge of banking regulatory environment and impact on risk, management practices.
  • Demonstrated stress testing techniques.
  • Demonstrates an informed perspective on Market environment, future trends, and emerging
  • Ability to lead complex projects with outstanding awareness of the Interest/Liquidity rate risk, Credit risk, Market Risk modeling associated.
  • Adherence to the Code of Conduct, assigned Risk Tolerance or Mandates and all organizational policies and procedures applicable.
  • Strong negotiation and presentation skills.
  • Superior project management skills.
  • Strong quantitative skills and practical modeling experience.EEO Statement: - At Santander, we value and respect differences in our workforce. - We actively encourage everyone to apply. - -Santander is an equal opportunity employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, genetics, disability, age, veteran status or any other characteristic protected by law.This job description does not list all of the job duties of the job. You may be asked by your supervisors or managers to perform other duties. You may be evaluated in part based upon your performance of the tasks listed in this job description. The employer has the right to revise this job description at any time. This job description is not a contract for employment and either you or the employer may terminate at any time for any reason.
    
    Primary Location: -Boston, MA, Boston
    Other Locations: -Massachusetts-Boston,New York-New York
    Organization: -Santander Holdings USA, Inc.Salary: $138,750 - $240,000/year

Keywords: Santander Holdings USA Inc, New York , Model Validation Director - Market & Interest Rate, Executive , New York, New York