"Alerted.org

Model Validation Analyst

Corporate Risk

Santa Rosa,

California

Portland,

Oregon

Roseville,

California

Description

About Us:

At Umpqua, we create a great place to work by offering a unique brand of relationship banking and fostering a culture where associates thrive. We are dedicated to supporting our customers and communities, and we can only achieve this through the dedication of ourassociates.

We value Trust, Ownership, Growth, Empathy, Teamwork, Heart, Enjoyment, and Relationships, and we are eager to meet candidates who embody these core values. We are always on the lookout for results-focused individuals who can think independently, work collaboratively, and support our broader purpose.

Think of us as financial partners, because at Umpqua, we believe the best way forward is together. Together for people. Together for business. Together for better.

About the Role:

The Model Risk Analyst will conduct model validation studies, with limited oversight, to manage and mitigate the risks that arisefrom the use of models that have fundamental errors and from the inappropriate use of model results. Analysis will includeassessments of each model's conceptual soundness, statistical analysis of empirical model performance, the development ofchallenger models for benchmarking comparisons, and composition of robust validation reports. Will identify items posingsignificant model risks to the bank, propose plans to address those risks, and present recommendations for continued model useor rejection to Senior Management and the Model Risk Committee. Reviews to includes financial models used to drive businessdecisions including but not limitedto:financial planning, fraud detection, credit risk management, anti-money laundering, assetand liability management, and Dodd-Frank Act Stress Testing (DFAST.

+ Perform reviews of existing model documentation. Interview model developers and model owners to understand the business context for model use and to facilitate the adoption of model risk management standards.

+ Under direct supervision of the Model Risk Manager, design specific validation plans to provide “effective challenge” to models, including assessments of overall design, underlying theoretical approaches, data quality and controls, model specification and estimation, development testing, implementation, use, and approvals.

+ Analyze empirical model performance using statistical techniques such as back-testing, scenario analysis, stress-testing, stability and sensitivity testing, and benchmarking against self-developed challenger models. Review computer code and input data to assess quality.

+ Prepare robust reports documenting the findings of validation review and analysis. Present results and recommendations for changes, continued use or rejection of models to model developers, model owners, executive sponsors, and the Model Risk Committee.

+ Assist model developers, model users, and model owners in the completion of model documentation and the design of scorecards to track the on-going performance of models under their responsibility.

+ Identify emerging model risk issues impacting the Bank, changes in industry best practice related to model development and validation, and communicate to model developers, senior management and the Model Risk Committee.

+ Facilitate improved understanding of model risk by conducting individual educational presentations or roadshow sessions as assigned by the Model Risk Manager.

+ Demonstrates compliance with all bank regulations for assigned job function and applies to designated job responsibilities – knowledge may be gained through coursework and on-the-job training. Keeps up to date on regulation changes.

+ Follows all Bank policies and procedures, compliance regulations, and completes all required annual or job-specific training.

+ Maintain a working knowledge of Bank's written policies and procedures regarding Bank Secrecy Act, Regulation CC, Regulation E, Bank Security and other regulations as applicable to this job description.

+ May be asked to coach, mentor, or train others within the team.

+ Actively learns, demonstrates, and fosters the Umpqua corporate culture in all actions and words.

+ Takes personal initiative and is a positive example for others to emulate.

+ Embraces our vision to become “Business Bank of Choice”

+ May perform other duties as assigned

About** **You:

+ Master's DegreeMaster’s Degree in economics, mathematics, statistics, financial engineering, quantitative finance, or actuarial sciencesPreferred

+ Ph.D.Doctoral degree.

+ 4-7 yearsin banking or financial services as a Data Scientist, Statistician, Quantitative Risk Analyst, Model Developer, Model Validator, or similar.Required

+ General knowledge of regulatory requirements related to model risk management (FRB/OCC SR 11-7).

+ Advanced understanding of statistical modeling, econometric forecasting, machine learning / AI, data extraction and processing techniques; and demonstrated ability to apply such methods.

+ Experience with analytics software (SAS, R, SPSS,Matlab, etc.), relational databases and/or ‘Big Data’ technologies (SQL, Python, etc.).

+ Possess communication skills, both oral and written, with ability to translate complex statistical or economic theories and analysis into practical implications for business teams and Senior Management.

+ Demonstrate strong organizational skills, with the ability to manage multiple concurrent projects.

+ Ability to proactively learn newly emerging statistical, econometric, and mathematical modeling techniques, and understand the implications of their use in a banking organization.

+ Certification as Financial Risk Manager (FRM), Professional Risk Manager (PRMIA), Chartered Financial Analyst (CFA), or Certificate in Quantitative Finance (CQF).Preferred

**Job Location(s):** Ability to work fully onsite at posted location(s).

Portland, OR, Santa Rosa, CA, or Roseville, CA

Our** **Benefits:

We offer a competitive total rewards package including basewagesand comprehensive benefits. Thepayrange for this role is $86,000.00 - $150,000.00,and the pay rate for theselected candidate isdependent upon a variety of non-discriminatory factors including, but not limited to, job-related knowledge, skills, and experience, education, and geographic location. The rolemay beeligible for performance-based incentive compensation and those details will be provided during the recruitment process.

We offer eligible associates comprehensive healthcare coverage (medical, dental, and vision plans), a 401(k)-retirement savings plan with employer match for qualifying associate contributions, an employee assistance program, life insurance, disability insurance, tuition assistance, mental health resources, identity theft protection, legal support, auto and home insurance, pet insurance, access to an online discount marketplace, and paid vacation, sick days, volunteer days, and holidays. Benefit eligibility begins the first day of the month following the date of hire for associates who are regularly scheduled to work at least thirty hours weekly.

Our Commitment to** **Diversity** **:

Umpqua Bank isan equal opportunityand affirmative actionemployercommitted to employing, engaging, and developinga diverse workforce.Allqualifiedapplicants will receive considerationfor employmentwithout regard to race, color,national origin,religion, sex, age, sexual orientation, gender identity, gender expression, protected veteran status, disability, or any other applicable protected status or characteristics.If you require an accommodation to complete the application or interview(s),please let us know by email: [email protected] .

To Staffing and Recruiting Agencies:

Our posted job opportunities are onlyintendedfor individuals seekingemploymentat Umpqua Bank.Umpqua Bank does not accept unsolicited resumes or applications from agencies and Umpqua Bank will not be responsible for any fees related to unsolicited resume submissions.Staffing and recruiting agencies are not authorized to submit profiles, applications,or resumestothis site or toany Umpqua Bank employeeand any such submissionswill be consideredunsolicitedunlessrequesteddirectlyby a member of the Talent Acquisition team.