Model Validation Analyst 3

Job Description

It’s about insights that are out of sight.

Does deciphering a secret code and discovering its hidden meaning excite you? Would you consider math to be your second language? Do you want the autonomy to improve processes and find solutions? If so, being a Model Validation Analyst III with Frost could be for you.

At Frost, it’s about more than a job. It’s about having a flourishing career where you can thrive, both in and out of work. At Frost, we’re committed to fostering an environment that reflects our values and encourages team members to be the best they can be. In joining our adaptable, integrity-driven team, you’ll become part of Frost’s over 150-year legacy of providing unparalleled banking services.

Who you are:

As a Model Validation Analyst III with Frost, you are our monitor. In this role, you monitor and validate aggregate model risk in alignment with Frost’s risk strategy. You will provide recommendations on how to adjust model risk based on independent validations. By turning data into insights, you will help us discover the accuracy of the most complex and significant financial, statistical, and behavioral models that are used within the organization. More than that, this role is about constant improvement and doing so with our signature all-win approach in mind.

What you’ll do:

• Monitor and validate aggregate model risk in alignment with Frost’s risk strategy. Provide recommendations on how to adjust model risk

• Perform independent validations of financial, statistical, and behavioral models commensurate with their criticality ratings. Focus on the most complex and significant models used within the organization. Ensure a thorough review by challenging key aspects of each model

• Assist other Model Validation Analysts with the most complex model validations by leveraging expertise in a wide variety of model validation techniques

• Oversee the validation and review of models regarding their theoretical soundness, testing design, and points of weakness

• Interpret data to recognize any potential risk exposure; additionally, identify opportunities to use data in ways that enhance the strategic and tactical decisions made by management

• Oversee the development of challenger models that help validate existing models and assist with outcome analysis

• Ensure compliance with the model risk monitoring framework

• Evaluate governance for Model Risk Management by reviewing policies, controls, risk assessments, documentation standards, and validation standards that are required to manage modeling processes throughout the organization

• Evaluate the Bank’s compliance with SR 11-7 regulatory guidance

• Provide leadership, guidance, and direction to less experienced analysts

• Always take action using Integrity, Caring, and Excellence to achieve all-win outcomes

What you’ll need:

• Master’s degree in a quantitative field such as Mathematical Finance, Financial Engineering, Statistics, Physics, Management Science, Operations Research, or Economics

• 2+ years of experience in the development or validation of financial, statistical, or mathematical models, preferably within the financial services industry

• Mastery of statistics and numerical techniques

• Demonstrated experience with documenting technical aspects of a model as well as presenting results/findings

• Proficient in either SQL, SAS, R, or Python

• Advanced knowledge of Microsoft Excel

• Proficient in Microsoft computer applications

• Excellent written and verbal communication skills

Additional Preferred Skills:

• Ph.D. degree in a quantitative field such as Mathematical Finance, Financial Engineering, Statistics, Physics, Management Science, Operations Research, or Economics

Our Benefits:

At Frost, we care about your health, your family, and your future and strive to have our benefits reflect that. This includes:  

• Medical, dental, vision, long-term disability, and life insurance

• 401(k) matching

• Generous holiday and paid time off schedule

• Tuition reimbursement

• Extensive health and wellness programs, including our Employee Assistance Program

• Referral bonus program + more!

Since 1868, Frost has dedicated their expertise to provide exceptional banking, investment, and insurance services to businesses and individuals throughout Texas. Frost is one of the 50 largest U.S. banks by asset size and is a leader in banking customer satisfaction. At Frost, it’s about being part of something bigger. If this sounds like you, we encourage you to apply and see what’s possible at Frost.