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Associate Director, Risk Modeling

Company: Santander Holdings USA Inc
Location: Union
Posted on: November 15, 2021

Job Description:

The Associate Director, Risk Modeling is responsible for leading and overseeing projects associates with the Company's quantitative models, model design, and model misuse of a model or its output.Specifically, the candidate will review and validate all the models in the Market Risk, trading and derivative pricing area.Models to validate include: FRTB, VaR, PFE, XVA, Bermudan options, Caps and Floors/Swaptions Black model, Foreign Exchange volatility surface construction, Interest Rates Multicurve framework...The incumbent is responsible for executing model risk management activities consistent with the framework, industry best-practice and regulatory guidance.Assess and evaluates model conceptual soundness, model assumptions, and data integrityCommunicates with senior management on risk modeling, decision, and data for improved efficiency, effectiveness, and/or risk reduction to the companyDevelops new methodologies and approaches to the management of model riskExecuting model risk management activities and projects consistent with the Enterprise MRM framework, industry best-practice and regulatory guidanceInforms perspective on market environment, future trends, and emerging risk issuesProactively identifies areas of issues or concerns related to potential gaps in existing processes, procedures, policies, frameworksPromotes a risk management culture by encouraging team to embrace appropriate risk practices and supporting team members in fulfilling risk management responsibilitiesResponds to required corrective actions in a timely and complete mannerTests risk model numerical, statistical, and computational accuracy; performs outcomes analysis; and reviews model governance and control process.At Santander, we value and respect differences in our workforce and strive to increase the diversity of our teams. We encourage everyone to apply.Bachelor's Degree; Mathematics, Physics, Statistics or equivalent quantitative fieldMaster's Degree; Mathematics, Physics, Statistics or equivalent quantitative field Ph.D.; Mathematics, Physics, Statistics or equivalent quantitative field or equivalent work experience12-15 years; Risk Management, Risk Modeling, AML, Financial Services industry. Focus in the derivative pricing area.Proven experience with Financial markets and products.Proven experience with derivative pricing models.Demonstrated knowledge of data querying languages and software.Strong MS Office (Excel, PowerPoint, Word, and Outlook) skills.Programming languages: Python, Matlab, Visual Basic, C++.Strong quantitative capabilities and analytical skills, including an investigative mindset.Ability to lead complex projects with outstanding awareness of the Operational Risk associatedAdherence to the Code of Conduct, assigned Risk Tolerance or Mandates and all organizational policies and procedures applicableComprehensive knowledge of front to back risk mgmt. processes, including: Operational risk, Risk identification, assessment, mitigation and control, Governance and reporting, Monitoring and testing, Operational risk modeling, capital calculation and demonstrated stress testing techniquesDemonstrates an informed perspective on Market environment, future trends, and emergingKnowledge of banking regulatory environment and impact on risk, management practicesStrong negotiation and presentation skillsStrong quantitative skills and practical modeling experienceSuccessful track record in achieving outstanding levels of delivery, performance, challenge, and oversightSuperior project management skillsMinimal physical effort such as sitting, standing, and walkingBrings out the best in each team member by consistently motivating and acknowledging peer contributionsUnderstands and leverages team dynamicsEffectively conveys difficult or complex information in an easy-to-understand manner, by providing the big picture and illustrating important linkagesAsks open-ended questions that encourage others to give their points of viewEnsures people receive the information they require, and brings the team together to share informationEnsures that all directs and colleagues have appropriate knowledge of risk and the regulatory environmentInvestigates and identifies the root cause and corrects items deemed non-compliant, regardless of pressures from business or managementFully accountable for timeliness, completeness, quality of projects, processes, products and servicesRemains calm and focused on goals while facing pressures, obstacles or short-term setbacksImproves relationships between key individuals to achieve seamless cross-team workflow and positively impact resultsUses informal networks to gain support for ideas and projectsKeeps up to date with external market events, pressures and regulations which may impact the organization and assesses whether similar issues exist in the organizationCan identify functional and organizational implications associated with major trendsDesigns solutions to address industry activities that impact the organizationMonitors adherence to policies, regulations, processes and procedures within function and actively undertakes corrective action where necessaryUnderstands end to end processes across the organization and how processes are integratedHas a practical knowledge of regulations impacting area supportedPrimary Location: Boston, Massachusetts, United StatesOther Locations: New York-New York,Massachusetts-BostonOrganization: Santander Holdings USA, Inc.

Keywords: Santander Holdings USA Inc, Union , Associate Director, Risk Modeling, Executive , Union, New Jersey

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