Full-Time

Technical Model Validation Specialist

Treasury

Posted on 5/9/2024

Cross River Bank

Cross River Bank

501-1,000 employees

API-driven banking and payment solutions

Financial Services
Data & Analytics

Mid

Edgewater, NJ, USA

Required Skills
Communications
Management
Requirements
  • BA/BS Degree in Finance or Financial Economics
  • Knowledge of Interagency guidance of model risk management (SR 11-7)
  • 3-6 years' experience in technical model development or validation at a bank or credit union, fintech organization
  • Prior experience in building or validating treasury and finance models including ALM and interest rate modeling, liquidity and capital stress testing, cash forecasting, P&L forecasting
  • Familiar with applications that house these models
  • Knowledge of Empyrean or similar Treasury platforms
  • Strong verbal and written communication skills and ability to communicate technical information to management and non-technical audience
  • Ability to negotiate, and listen and collaborate with team members with different points of view, focusing on ensuring Safety and Soundness
  • Results oriented, ability to meet deadlines, and strong attention to details
  • Integrity, ability to work independently, and strong problem-solving skills
  • Exceptional collaboration skills and a desire to work as part of a high-performance team
Responsibilities
  • Accountable for validations, reviews and monitoring of models and critical tools in Treasury and Finance
  • Validate and test models in treasury and finance with an understanding of the bank balance sheet cash flows at instrument level and asset/liability management in theory and practice
  • Review codes, programs and assumptions for models in treasury and finance
  • Analyze data mapping from core system to financial models and identify any errors and lack of controls in this area
  • Test sensitivities to model assumptions for models and analyze its impact on cash flow output and financial statements
  • Understand cash flow and repricing characteristics and expectations in different interest rate environments (as well as prepayment, decay, credit sub-model effect)
  • Create model validation reports (or work with team-members to create reports) in accordance with the bank’s model risk policy and procedures
  • Engage with model owners to communicate model findings
  • Escalate issues to requisite senior management, review action and ongoing monitoring plans and reports, and identify deliverables to mitigate issues
  • Review compensating controls for models with issues to ensure adequate remediation
  • Support Regulatory and Audit timely remediation

Cross River combines a cutting-edge, API-driven banking infrastructure with a real-time core, enabling the development of customizable card programs alongside comprehensive credit, debit, and payment processing solutions. This firm stands out in the fintech sector for its commitment to delivering scalable and flexible financial services. The environment is geared towards constant technological advancement, promoting a culture of innovation that supports both personal and professional growth among its employees.

Company Stage

Series D

Total Funding

$987M

Headquarters

Fort Lee, New Jersey

Founded

2008

Growth & Insights
Headcount

6 month growth

0%

1 year growth

0%

2 year growth

19%

Benefits

Generous parental & leave policies

Completely subsidized health, dental, & vision insurance

Complimentary dry cleaning

On-site haircuts

Endless snacks

Company events