Quantitative Analyst II

This is a hybrid role, with the expectation that time working will regularly take place inside and outside of a company office.

Conduct independent model audits to ensure bank models align with business objectives and design objectives. Verify that models are performing as expected. Identify potential limitations, including assessing potential impact. Write detailed model audit reports that present the results from executing a thoughtful and thorough model audit plan. Communicate the model audit findings to model owners, model validators, senior management, and regulatory agencies as required. Perform annual reviews and review the on-going monitoring reports to ensure that the models are performing as intended. Interact with all key stakeholders including model users, model owners, vendors, Model Risk Governance, and other auditors throughout the model lifecycle including validation, ongoing performance evaluation. Suggest enhancements to the existing audit process including audit templates, on-going monitoring of models, automation of repetitive tasks. Guide junior team members on model audits. Engage in review and development of risk models and tools used to report on and manage the financial metrics, balance sheet and risk of the company. Responsible for data analysis and research including back testing of models and strategies using historical data. Engage in risk management, analyzing and assessing key risks to the bank. Execute stress tests and scenario analysis to evaluate the performance of models under various adverse market conditions. Develop the appropriate documentation for third line risk partners. Engage, troubleshoot and escalate work deliverables for assigned systems, products, or business unites. Identify potential improvements to current procedures, plans, and controls to achieve business objectives and regulatory requirements.

Position requires a Bachelor's degree in Statistics, or a related field plus four (4) years of experience in the job offered or four (4) years as a Sr. Analyst or related occupation. Alternatively, employer will accept a Master's degree in Statistics or a related field and two (2) years in the job offered or two (2) years as a Sr. Analyst or related occupation.

Requires experience in model development and implementation, model validation, or model audit within the financial industry. Requires analytics experience with Python, SAS, and SQL. Requires experience developing, validating, or auditing financial and stress testing models. Requires experience with various performance metrics and the use cases for each. Requires experience maintaining or validating vendor developed models. Requires strong analytical skills and ability to find patterns in transactional data. Requires advanced programming skills in Python, SQL, and SAS. Requires experience using SQL to pull data from enterprise warehouse databases. Requires experience developing or validating Artificial Intelligence and Machine Learning models and rule-based models. Requires exceptional understanding of the banking industry and business lines. Requires experience communicating validation standards and technical concepts to key stakeholders. Requires good understanding of federal guidance related to model risk management. Requires strong knowledge of Artificial Intelligence and Machine Learning. Requires a thorough understanding of the workflow of a transaction or an application submission to filing of a claim. This is a hybrid role, with the expectation that time working will regularly take place inside and outside of a company office.

The base pay for this position is generally between $149,350 to $218,406 per year. Actual starting base pay will be determined based on skills, experience, location, and other non-discriminatory factors permitted by law. For some roles, total compensation may also include variable incentives, bonuses, benefits, and/or other awards as outlined in the offer of employment.

Benefits are an integral part of total rewards and First Citizens Bank is committed to providing a competitive, thoughtfully designed and quality benefits program to meet the needs of our associates. More information can be found at https://jobs.firstcitizens.com/benefits

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