Quantitative Model Analyst Job Listing at Valley Bank in Morristown, NJ (Job ID 25-825)

Description

Quantitative Model Analyst sought by Valley National Bank d/b/a Valley Bank in Morristown, NJ.   Job Description:
Validate, test, and document all models used by the Bank, especially AI/ML models. Perform advanced independent quantitative and qualitative analyses of and challenges to the models, including data integrity, theory, design, assumptions, implementation, accuracy, and reliability. Conduct statistical analyses and AI/ML research. Specific duties include: conduct Model Validation in multiple departments, including BSA-AML, Fraud Risk, Marketing, Compliance, Cyber Security, Credit Risk, etc. Models include Machine Learning, Deep Learning, Generative AI, Rule based, etc.; perform model ongoing monitoring oversight for all models validated; collaborate with Asset-Liability Management (ALM) and Treasury teams to redesign the scorecard for interest rate risk, validate IRR scorecard and KRI in market risk quarterly, replicate metrics calculations: EVE, NII, Duration Gap, etc.; mentor and train Junior Quantitative Model Analysts on interest rate risk analysis, model validation, and interpretation; assist in maintaining and updating model/market risk policies and documents; stay updated on industry best practices, regulatory changes, and emerging trends in quantitative modeling, and risk management, attend conferences and present new technologies in the team meetings; conduct Model Validations on 2 accounting models: SBA Valuation & Visual Lease, replicate the cashflow calculating in R and verify the results; and attend team meetings to discuss the validation findings. Job may be performed remotely up to three days per week.   Salary: $145,500.00/year. Standard benefits package.