AccruePartners

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Model Risk Management in Chicago, Illinois at AccruePartners

at AccruePartners

Posted: 2/24/2019
Job Status: Full Time
Job Reference #: J3P1LY6999RBV90LD42
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Job Description

Job Description

AccruePartners values our contract and consulting employees. We offer a competitive benefits package to meet the diverse needs of all of our contractor and consulting employees and their family members. Here is a listing of what our company offers: 401(k) Medical, Dental, Vision, Life Insurance, Employee Assistance Program, Medical and Prescription Drug, Short and Long-Term Disability Insurance.

THE TEAM YOU WILL BE JOINING:

  • Fortune 100 Financial Services Company
  • 100-year history of dedication to customer satisfaction, success and growth
  • Tremendous growth and new business strategy leading to the need for new talent
  • Significant investments in cutting-edge technology

WHAT THEY OFFER YOU:

  • Culture: Excellent work environment that fosters collaboration
  • Growth: Ability to make an impact on the direction of the organization
  • Opportunity: Gain hands-on experience working with cutting-edge technology
  • Stability: Recent financial performance of the company has reported record profits

WHERE THE POSITION IS LOCATED:

  • Chicago, IL

WHY THIS ROLE IS IMPORTANT:

  • Responsible for providing ongoing support and maintenance of controls around quantitative models within company’s Global Investments organization.
  • Support model owners in the development, documentation, updating, testing and ongoing performance monitoring of new and changed models
  •  Responsible for a broad spectrum of models including, but not limited to, asset allocation, performance, tracking error, cash flows, structured products and investment valuations used to support investment decisions and management processes.
  • Demonstrate and document theoretical and conceptual dependability, implementation, and suitability for model use, model limitations, and use of expert judgment.  Review and confirm proper controls are incorporated in the process
  •  Support the Model Risk Management validation process. Work with model owners to resolve findings
  •  Work with model owners to ensure compliance with ongoing Enterprise Model Risk Management program requirements, including annual reviews and updated testing. If necessary, recommend the cessation of reliance on models that are proven to be inaccurate or outdated.
  • Interface with Enterprise Risk Management to deliver on Model Risk Management framework.
  • Develop process documentation and associated Standard Operating Procedures (SOPs) for the business.
  • Maintain model database.

THE BACKGROUND THAT FITS:

  • Masters Degree in Financial Engineering or Mathematics required
  •  PhD Financial Mathematics or a related field preferred
  • 10+ years of experience in asset management, banking, or other financial sectors.
  •  Model development, implementation and/or validation covering diverse areas including structured products.
  • Graduate level knowledge of probability/statistics and models of financial theory and stochastic processes. 
  • Proficiency in C, (C++), Matlab, SAS, other.  Familiarity with financial services models, such as Barclay’s Point, Moody’s, INTEX, and others.  Also proficient in Excel and VBA.
  • Excellent communication skills (written and verbal), with the ability to present risk concepts in clearly understandable language.
  • Strong organizational skills and ability to effectively prioritize activities.
  • Solid leadership skills, with demonstrated ability to drive initiatives and influence stakeholders.
  • Commitment to delivering value to the business.

Preferred Skills

  • Model development, implementation and/or validation covering diverse areas including structured products.
  • Graduate level knowledge of probability/statistics and models of financial theory and stochastic processes. 
  •  Proficiency in C, (C++), Matlab, SAS, other.  Familiarity with financial services models, such as Barclay’s Point, Moody’s, INTEX, and others.  Also proficient in Excel and VBA.
  • Archer or similar governance, risk, and compliance (GRC) system experience.