Banc of California is seeking a Vice President, Model Validation to assist the Bank's Model Risk Management with its framework and standards, model inventory, model risk assessment, model validation and model governance. The ideal candidate will have 6+ years of experience in model validation or model development in the banking industry or consulting and a Master's degree in Economics, Finance, Mathematics and/or other related quantitative fields.
Requirements
- 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
Benefits
- 401k plan with company match and immediate vesting
- 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)
- Paid vacation days, holidays, and volunteer time off
- Tuition reimbursement, annual mentorship program, leadership development resources, access to LinkedIn Learning, and more
- Paid parental leave and family support solutions including care options for your family
- Adoption, surrogacy, and fertility assistance
