Sr. Associate, Market Risk (Models)
Company: Santander Holdings USA Inc
Location: New York
Posted on: October 19, 2024
Job Description:
Sr. Associate, Market Risk (Models)Boston, United States of
AmericaThe Sr. Associate, Market Risk will assist the Interest Rate
Risk team in managing the Models, Expert Judgments, Overlay and
Assumptions that are integrated into the Financial Risk tool, QRM.
- The Sr. Associate will oversee the entire Model lifecycle from
Model Identification to Model Decommissioning. - In addition, the
Sr. Associate will oversee the increasingly important task of
managing Expert Judgments / Overlays / Assumptions that are
developed and maintained internally by Market Risk.Key
Responsibilities:
- Work on the development of Expert Judgment Models (EJMs), Model
Overlays and Management Adjustments for underperforming models. -
Maintains documentation for all EJMs, Overlays. -
- Liaise with Lines of Business to determine correct IRR
Assumptions. - Gather data from disparate sources to justify
Assumption changes.
- Construct Performance Monitoring processes for any new
EJM/Overlay developments.
- Run recurring Model Performance Monitoring processing and
presents results to Stakeholders.
- Maintain Model Implementation Documentation for all IRR
Models.
- Liaise with Methodology and Model Risk Management for the
development and validation of Models.
- Conduct ad-hoc IRR analysis.
- Acts as first line of defense for all IRR Model-related
questions.
- Documents all changes to Monthly and Quarterly Procedures.
- Work with headquarters and subsidiaries to make sure compliance
in procedures and standards.Qualifications:
- Master's in a quantitative field such as Finance, Physics,
Mathematics, or a related discipline with a modeling
background.
- 7-10 years of experience in market risk model development
and/or validation within the financial services industry is highly
desired.
- Experience with pricing and risk models
- Strong analytical skills required to understand quantitative
models.
- Strong knowledge and understanding of financial products.
- Strong communication skills, both written and verbal.
- Experience using QRM highly desired.
- Proficiency in Excel, SQL, Access.
- Hands-on experience with mathematical programming such as R,
MATLAB.Diversity & EEO Statements: At Santander, we value and
respect differences in our workforce and strive to increase the
diversity of our teams. 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.Working Conditions: Frequent
Minimal physical effort such as sitting, standing and walking.
Occasional moving and lifting equipment and furniture is required
to support onsite and offsite meeting setup and teardown.
Physically capable of lifting up to fifty pounds, able to bend,
kneel, climb ladders.Employer Rights: Employer Rights: 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.
Keywords: Santander Holdings USA Inc, Hamden , Sr. Associate, Market Risk (Models), Other , New York, Connecticut
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