Model Risk Analyst

About the Position:

As the Model Risk Analyst, you will support the Bank’s Model Risk pursuant to the Bank’s Model Risk Management (MRM) Program and policy. You will promote awareness of sound model risk management practices by assisting with model validation, identifying model risk, and supporting risk mitigation and reporting. You will also help ensure the Bank’s MRM program and policy is compliant with regulatory expectations.

Working within the second line of defense, you will provide independent review, effective challenge, and ongoing oversight across the full model and tool lifecycle.

What You Will Do:

Assist in the management of independent review and validation of quantitative models to ensure alignment with regulatory requirements, governance standards, and business objectives.

Evaluate model and tool design, methodology, assumptions, data quality, conceptual soundness, limitations, and performance, providing effective challenge to model owners and developers.

Analyze quantitative and qualitative information to identify trends, anomalies, emerging risks, performance issues, and potential impacts on decision-making and business outcomes.

Assess, monitor, and mitigate model and AI-related risks, recommending corrective actions including continued use, modification, or retirement.

Help monitor the models and AI-enabled solutions are developed, implemented, validated, monitored, and governed in accordance with internal policies and applicable regulatory guidance.

Conduct validation reviews through documentation assessments, stakeholder interviews and ongoing monitoring activities to evaluate model effectiveness and compliance.

Maintain the Bank’s model and tool inventory, risk assessments, validation documentation, and supporting governance records.

Prepare comprehensive reports, risk assessments, and recommendations to senior management, risk committees, auditors, and regulatory examiners.

Monitor industry trends, regulatory developments, and emerging model and AI risk management practices, communicating relevant changes and impacts to stakeholders across the organization.

Promote model risk awareness through training, advisory support, governance reporting, special projects, and other initiatives that strengthen the Bank’s risk management framework.

All other duties assigned.

What We’re Looking For:

Bachelor’s Degree or equivalent work experience.

A minimum of two years of model risk, model validation, quantitative analysis, internal audit, or risk management experience required.

Proficient in Microsoft Office Suite.

Understanding of model risk governance, policies, procedures, and regulatory guidance, including SR 26-2 and emerging AI/ML governance expectations preferred.

Baseline familiarity with AI or machine learning concepts and related governance considerations preferred.

Experience developing risk dashboards, key risk indicators, and executive reporting preferred.

Experience with Banking as a Service (BaaS)/Fintech Partnerships preferred.

Effective interpersonal skills in working with vendors, business units, team members.

Strong project management skills, with proven ability to coordinate multiple tasks on an ongoing basis.

Proven cost savings and continuous improvement approach.

Strong presentation, written communication, and leadership skills.

Working Conditions/Demands:

Professional office setting.

Primarily sedentary position requiring long periods of time working at a computer.

Must be able to move throughout the office and buildings to obtain or relay information.

Must be able to perform the essential functions of the position with or without reasonable accommodation.

Who Are We?

We’re not just another bank and we’re not looking for just another employee. Since 1999, First Internet Bank has…