Wintrust Financial

Wintrust Financial

Risk Management Officer

Rosemont, IL

Sponsorship not specifiedDetected 21 days ago
PythonMATLABSQLMachine LearningData ScienceStatisticsStakeholder ManagementExcelValuationLoad TestingSASCollaborationMicrosoft Office

About the role

  • Evaluate the model adjustments, such as overlays and buffers, wherever applicable.
  • Follow up with model owners to ensure findings are remediated in a timely manner.

Responsibilities

  • Perform independent and comprehensive validation of bank-wide statistical/econometric/ mathematical/qualitative (expert judgment) models for stress testing, asset allocation, valuation and pricing, BSA/AML in compliance with SR 11-7/OCC 2011-12 and Model Risk Management (MRM) policy and procedures.
  • Develop a model validation testing plan commensurate with the model risk tier and perform quantitative and qualitative tests to assess models for conceptual soundness, implementation accuracy, data integrity, and performance accuracy, including back testing, sensitivity analysis, scenario analysis, benchmarking, and governance.
  • Review of model theoretical framework and design
  • Review testing results in the model methodology document.
  • Design and execute a comprehensive and granular program for the following: Data Validation
  • Provide effective and meaningful challenge during the following processes of model validation: Review of conceptual soundness; Review adequateness of modeling data; Materiality analysis of model assumptions and limitations; Review of model theoretical framework and design; Review of model performance.
  • Model documentation review should consist, amongst others, the following: Assessing the quality of model documentation; Reviewing documentation of developmental evidence; Review documentation of model governance; Review testing results in the model methodology document.
  • Design and execute a comprehensive and granular program for the following: Data Validation; Model theoretical framework and design; Assumptions and Limitations testing; Model
  • Perform ongoing monitoring of all the models in line with the validation calendar and monitor the performance of those models through statistical tests. Evaluate the model adjustments, such as overlays and buffers, wherever applicable.
  • Manage activities related to model governance and assist VP model risk management in creating reports for the senior management, executive management, risk committees, and regulatory exams.

Requirements

  • 2 years of experience working with financial products and associated risk management.
  • 2 years of experience with quantitative modeling in the financial industry using financial and economic data.
  • 2 years of experience in data handling skills using advanced statistical and numerical methods.
  • 2 years of experience with MS Office applications such as Word, Excel and PowerPoint to generate high-quality management reports.
  • 2 years of experience working with a changing regulatory environment, such as the OCC2011-12 guidance.
  • 2 years of experience with SAS and Python for statistical modeling and data handling.
  • 2 years of experience with one or more of the following (R, SQL, MATLAB, VBA)
  • The position requires experience in all of the following:

Nice to have

  • Master's degree in Applied Economics, Statistics, Mathematics, Data Science or related field plus 2 years of related work experience.

Skills

  • Assist VP-MRM is executing the AI and Machine Learning risk management framework.

Compensation

  • The estimated salary for this role is $101,949.99, along with eligibility to earn an annual bonus.
  • Assists in the annual model certification process and maintain status updates from the model owners.

Company info

  • Wintrust provides community and commercial banking, specialty finance and wealth management services through its 16 bank charters and nine non-bank businesses.
  • Wintrust delivers the sophisticated solutions of a large bank while staying true to the relationship-focused, personalized service of our community banking roots.
  • We serve clients in all 50 states with more than 200 branch banking locations in Illinois, southwestern Florida, northwestern Indiana, west Michigan and southern Wisconsin and commercial banking offices in Chicago, Denver, Milwaukee, Grand Rapids, Mich., and in key branch banking locations throughout Illinois.
  • Our people are the heart of our business and we are proud to rank consistently as a top place to work.
  • Wintrust is a $66 billion financial institution based in Rosemont, Illinois, and listed on the NASDAQ Global Select Market under the symbol "WTFC."

Equal opportunity

  • Wintrust Financial Corporation, including community banking and financial services subsidiaries, is an Equal Opportunity Employer.
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This listing is sourced directly from Wintrust Financial's careers page and normalized into a canonical job model.