Senior Risk Analyst, Model Validator - Artificial Intelligence & Machine Learning (Remote)

Overview

This is a remote role that may be hired in several markets across the United States.

This Senior Risk Analyst position is within First Citizens Bank’s Model Risk Management (MRM) team, with a primary focus on conducting validations of the Bank's AIML marketing, operations, and other uses. The AIML Center of Excellence model inventory encompasses a diverse range of models, including both machine learning, optimization, rules-based systems, among others. To provide an effective challenge, subject matter expertise is essential. A successful candidate must possess strong knowledge of AI/ML, Risk, and have a thorough understanding of the bank workflows and marketing value.

Responsibilities

• • Conduct independent model validations to ensure AIML models align with business objectives and design objectives. Verify that models are performing as expected. Identify potential limitations, which includes assessing potential impact.
  • Write detailed model validation reports that present the results from executing a thoughtful and thorough model validation plan.
  • Manage internal and external teams performing model validations.
  • Communicate the model validation findings to model owners, senior management, and regulatory agencies as required.
  • Perform annual reviews and review the on-going monitoring reports to ensure that the models are performing as intended.
  • Interact with all key stakeholders including model users, model owners, vendors, Model Risk Governance, and other Validators throughout the model lifecycle including validation, ongoing performance evaluation.
  • Suggest enhancements to the existing AIML validation process including Validation templates, on-going monitoring of models, automation of repetitive tasks.
  • You may be asked to help guide junior team members on model validations.

Qualifications

Bachelor's Degree and 4 years of experience in Risk management, or financial analysis, or statistical modeling, or high school and 10 years of risk management, or financial analysis, or marketing analytics.

Preferred Qualifications

Advanced degree (master’s or Ph.D.) in a quantitative field (e.g., Data Science, Operations Research, Finance, Applied Statistics, or a related quantitative discipline).

Minimum 7+ years of experience in model development and implementation or model validation within the financial industry. Minimum 5+ years of AIML models and analytics experience with software (such as Python, SAS, R).

• Experience developing or validating AIML, Marketing, and operations models (lifetime value, scoring, classification, deep learning, large language models, fraud, anomaly detection, etc.)

• Experience with Large language model use cases, prompt engineering, and metrics.

• Experience maintaining or validating vendor developed models.

• Good writers of technical reports.

• Strong analytical skills and ability to find patterns in transactional data.

• Well-versed with various performance metrics and the use cases

• Advanced programming skills in Python, SQL, SAS, or R.

• Experience using SQL to pull data from enterprise warehouse databases.

• Experience developing and/or validating AI/ML models and rule-based models.

• Exceptional understanding of the banking industry and business lines.

• Experience communicating validation standards and technical concepts to key stakeholders.

• Good understanding of federal guidance related to model risk management (SR 11-7, OCC 2011-12).

The base pay for this position is generally between $120,000.00 and $175,000.00. Actual starting base pay will be determined based on skills, experience, location, and other non-discriminatory factors permitted by law. For some roles, total compensation may also include variable incentives, bonuses, benefits, and/or other awards as outlined in the offer of employment.

This job posting is expected to remain active for 45 days from the initial posting date listed above. If it is necessary to extend this deadline, the posting will remain active as appropriate. Job postings may come down early due to business need or a high volume of applicants.

First Citizens benefits programs are designed to meet our associates where they are in life. Full-time associates (20+ hours) are offered a comprehensive benefits program, with customized offerings, including those designed to support families, however defined. More information regarding our benefits offerings can be found here: https://jobs.firstcitizens.com/benefits.