Quantitative Model Analyst – Morristown, NJ

<div class="isg-job-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.
Apply online https://www.valley.com/about/careers or send resume to Megan Almond, First VP, HR Business Partner at [email protected] and list position title in Subject.
Valley National Bank is an Equal Opportunity / Affirmative Action Employer. All qualified applicants are encouraged to apply, and will be considered without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, protected veteran status, or other legally protected characteristics, and will not be discriminated against on the basis of disability.