Sr. Model Risk Analyst - Credit, CCAR CECL Models; Remote

Overview

This is a remote role that may be hired in several markets across the United States. This position is within First Citizens Bank’s Model Risk Management (MRM) team and plays a critical role in ensuring the integrity, reliability, and regulatory compliance of the bank’s credit risk models. The primary focus is on the independent validation of models used for CCAR stress testing and CECL frameworks, both of which are essential components of the bank’s risk management and capital planning processes.

The analyst will collaborate with the validation manager and director to conduct independent model validations for one or more specific areas based on their background and expertise. This role provides an excellent opportunity for the analyst to rotate within the team, gaining a comprehensive and holistic understanding of CCAR stress testing and CECL frameworks.

• Comprehensive Model Validation:
  Conduct thorough validations of various model components, ensuring accuracy, reliability, and alignment with regulatory requirements.
• Model Inputs Analysis:
  Assess data quality, extraction, cleaning, and transformation processes.
• Model Framework Evaluation:
  Review model design, segmentation, variable selection, and testing procedures.
• Model Code Review:
  Verify code correctness, accuracy, and absence of material errors.
• Outcomes Analysis:
  Evaluate in‑sample and out‑of‑sample back‑test results, stress testing, and performance metrics.
• Benchmark Model Development:
  Develop alternative models to benchmark against champion models.
• Risk Identification and Mitigation:
  Recommend mitigation measures and enhancements for model quality.
• Documentation and Reporting:
  Produce comprehensive validation reports and ensure adherence to internal standards.
• Audit and Regulatory Review Support:
  Assist with internal audit and regulator material preparation, drafting responses, and defending validations.
• Continuous Learning:
  Stay current on trends, best practices, and regulatory changes to improve the validation framework.

Bachelor’s Degree and 6 years of experience in OR High School Diploma or GED and 10 years of experience in model risk or data science.

• Advanced degree (Master’s or Ph.D.) in a quantitative field such as Statistics, Data Science, Economics, Applied Mathematics, or Engineering.
• Open to candidates at both junior and senior levels; 2+ years for Risk Analyst III, 5+ years for Senior Risk Analyst.
• Proficiency in modeling techniques (linear regression, logistic regression, survival analysis, time series, machine learning) and programming languages (SAS, Python, R, SQL).
• Strong understanding of regulatory requirements for stress testing and capital planning.
• Excellent problem‑solving, attention to detail, and communication skills.

Base pay ranges between $125,000 and $185,000, with potential variable incentives, bonuses, and benefits. Benefits include a competitive, thoughtfully designed program to meet associate needs. Further details can be found at

This job posting is expected to remain active for 45 days from the initial posting date. It may be extended or withdrawn early due to business needs or high volume of applicants.