QUANTITATIVE ANALYST - CORPORATE CREDIT RISK DEPT. - FIRSTBANK, PR Job at First

QUANTITATIVE ANALYST

Our Company

At FirstBank PR , we strive to be a trusted advisor to our clients, and our employees are the ones who ensure we deliver on our promise of excellence in personalized customer service. Our more than 3,100 employees in Puerto Rico, the Virgin Islands, and Florida share a passion for excellent customer service. We are proud of our team because they are continuously surpassing our clients expectations.

Do you have a passion for helping customers, building relationships, and delivering extraordinary, personalized customer service? If yes, FirstBank is the number one place for you.

A Brief Overview

This role involves understanding and validating modeling methodologies and other risk management activities in accordance with the Model Risk Management (MRM) framework and regulatory requirements. The analyst conducts statistical evaluations of model conceptual soundness, assumptions, data quality, testing, validation, performance monitoring, and controls. The Quantitative Risk Analyst reports to the Model Risk Manager within the ERM and Operational Risk Department.

What Youll Need to Succeed

• Understanding of modeling assumptions, inputs, processing, development, and model results.
• Build and program challenger statistical models to test model owners monitoring frameworks.
• Validate control processes to mitigate future risk calculation errors.
• Interact with model owners, users, developers, and reviewers.
• Perform statistical model validations, produce validation reports, conduct annual reviews, and ongoing monitoring of all models.
• Manage workflow to ensure timely deliverables.
• Prepare and deliver validation and engagement updates to stakeholders.
• Stay current with best practices recommended by bank regulators.
• Engage with regulatory bodies to support challenger models during validation exercises.
• Perform special assignments as directed by the Model Risk Manager or ERM and Operational Risk Director.
• Monitor compliance with continuing education requirements.
• Review current data entry processes for efficiency and suggest improvements.
• Validate data analysis for model development.
• Review documentation around model tests and measures.
• Validate routine analysis for model performance and maintain model inventory for compliance.
• Assess the adequacy of model documentation.
• Use quantitative skills to analyze data and assess management responses.
• Challenge business research to ensure data quality and create detailed reports.

Minimum Requirements Youll Need

EQUAL EMPLOYMENT OPPORTUNITY EMPLOYER

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