DTCC Candidate Experience Site
Model Validation Senior Associate
Jersey City, NJ, United States · Senior
Sponsorship not specifiedDetected 115 days ago
About the role
- Model Risk Management, MRM is responsible for overseeing enterprise-wide model risk management and supporting front-line units in managing model risk.
- Effective validation helps to ensure that models are sound, identifying potential limitations and assumptions and assessing their possible impact.
- All model components, inputs, processing, outputs, and reports, are subject to validation and applies equally to models developed in-house and to those purchased from or developed by vendors or consultants.
Responsibilities
- MRM provides oversight of day-to-day model risk management activities to identify, measure, monitor, and manage risk related to the design, development, and implementation and use of models.
- Per the Federal Reserve Supervision and Regulator guidance (SR 11-7), Model Validation is the set of processes and activities intended to verify that models are performing as expected, in line with their design objectives and business uses.
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