Job Information
Federal Reserve System Quantitative Model Validation Analyst in Minneapolis, Minnesota
Company
Federal Reserve Bank of Minneapolis
Our Supervision, Regulation and Credit Division, is looking for a new Quantitative Model Validation Analyst within the Stress Testing Department. In this role, your primary objective is to provide an independent and credible challenge to the supervisory stress models used to help assess the capacity for large, systemically important financial institutions to absorb losses under baseline and stressed economic conditions.
Responsibilities:
Complete components of validation activities.
Complete components of validations on the Federal Reserve System's internally developed Comprehensive Capital Analysis and Review (CCAR)/Dodd Frank Act Stress Testing (DFAST) or other supervisory models to assess and control model risk in compliance with applicable guidance, policies and procedures.
Follow and enhance existing model validation processes to provide independent effective challenge to model developers.
Communicate, describe, support, and discuss findings of model validations with Reserve Bank management.
Provide feedback on validation reports and findings based on areas of expertise.
Independently identify and communicate findings.
Complete complex assignments and projects related to department, Reserve Bank, and System.
Independently prepare for meetings with validation stakeholders.
Utilize a variety of advanced software systems and applications, coordinate and prepare information, reports, and analysis.
Consult with other validators on areas of expertise. Provide feedback to teammates on validation reports.
Manage time effectively to deliver projects in accordance with scheduled deadlines.
Position may require occasional travel to other Reserve Banks and/or Board to perform the essential functions of the job, which usually requires carrying a laptop computer and work papers (which generally weigh about 30 lbs.) in addition to one's personal luggage.
Qualifications:
Bachelor's degree in Economics, Statistics, Math, Business, Accounting, Finance, or related quantitative fields. Advanced degree strongly preferred.
Some experience in model validation, audit, and controls preferred (For Level II: Must have 3 years of experience; For Level III: Must have 5 years of experience)
Ability to find information and seek resources to validate a particular model or risk practice.
Some background knowledge of specific portfolios.
Ability to understand and validate several types of model or risk practices.
Experience with programming, or statistical software working with large databases preferred.
Experience with different numerical methods and modeling techniques preferred.
Good written and oral communication skills.
The Bank believes in flexibility to balance the demands of work and life while also recognizing the necessity of connecting and collaborating with our colleagues in person. Onsite work is an essential function of this position, and you are expected to be in the office 3 days per week for meetings and team collaboration.
Additional Information:
- This position requires access to confidential supervisory information and/or FOMC information, which is limited to "Protected Individuals" as defined in the U.S. federal immigration law. Protected Individuals include, but are not limited to, U.S. citizens, U.S. nationals, and U.S. permanent residents who either are not yet eligible to apply for naturalization or who have applied for naturalization within the requisite timeframe. Candidates who are not U.S. citizens or U.S. permanent residents may be eligible for the information access required for this position and sponsorship for a work visa, and subsequently for permanent residence, if they sign a declaration of intent to become a U.S. citizen and meet other eligibility requirements. In addition, all candidates must undergo applicable background checks and comply with all applicable information handling rules, and all non-U.S. citizens must sign a declaration of intent to become a U.S. citizen and pursue a path to citizenship.
S alary range for Analyst I is $70,700 - $88,313 - $106,000.
Salary range for Analyst II is $90,000 - $112,512 - $135,000.
Salary range for Analyst III is $125,900 - $157,430 - $188,900.
Salary offer will be based on qualifications/experience of the candidate , alignment with market data, _the needs of the position, our total compensation package, and internal equity. _
Our total rewards program offers benefits that are the best fit for you at every stage of your career:
Comprehensive healthcare options (Medical, Dental, and Vision)
401K match, and a fully funded pension plan
Paid time off and holidays
Free public transportation passes
Annual educational assistance
On-site fitness facility
Professional development programs, training and conferences
And more…
The Minneapolis Fed is committed to developing a diverse workforce and providing an inclusive environment where all employees are respected and valued. We believe that we can foster development opportunities for all and reach our full potential by recognizing the unique experiences and identities of each of our colleagues. From economists to cash specialists (https://www.minneapolisfed.org/about-us/careers/job-profiles) , we work together to represent you in our economy.
Full Time / Part Time
Full time
Regular / Temporary
Regular
Job Exempt (Yes / No)
Yes
Job Category
Bank Examination
Work Shift
First (United States of America)
The Federal Reserve Banks believe that diversity and inclusion among our employees is critical to our success as an organization, and we seek to recruit, develop and retain the most talented people from a diverse candidate pool. The Federal Reserve Banks are committed to equal employment opportunity for employees and job applicants in compliance with applicable law and to an environment where employees are valued for their differences.
Privacy Notice (https://www.kansascityfed.org/documents/7797/Workday_Privacy_Notice.pdf)
OUR BANK has one of the most recognizable brands around the world. The Federal Reserve is the central bank of the United States—one of the world's most influential, trusted and prestigious financial organizations. The Federal Reserve is charged with the important mission of promoting a strong economy and a stable financial system and fulfills this responsibility by formulating national monetary policy, supervising and regulating banks and bank holding companies, and providing financial services for banks and the U.S. government.
OUR PEOPLE are diverse in background and ideas, which allows for ongoing creativity and innovation. Ultimately, they are the ones who push our high-performance, exchange-driven culture forward.
Why Our People Choose Us:
Our reputation precedes us
There will always be room for personal growth
Our people are first
You’ll find the right balance
Your responsibilities will be meaningful
We hope that you will be our future colleague.