Risk Model Validation Analyst at Santander

Boston, Massachusetts, United States

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Not SpecifiedCompensation

Junior (1 to 2 years)Experience Level

Full TimeJob Type

UnknownVisa

Financial ServicesIndustries

Requirements

Candidates must possess a Bachelor's Degree in Statistics, Mathematics, Engineering, Computer Science, Economics, or a related field, or equivalent work experience. A Master's Degree or higher in a related field is preferred. Experience in the financial services industry, including expertise in risk modeling and regulatory compliance (SR 11-7), is also preferred. Proficiency in SAS, SQL, Python, and R is required, along with strong quantitative, analytical, and problem-solving capabilities. Excellent communication, organizational, and time-management skills are essential, as is the ability to work collaboratively and independently.

Responsibilities

The Risk Model Validation Analyst will conduct robust validations of various quantitative risk models, including Expert Judgement models, Interest/Liquidity rate risk, Credit risk, Market Risk, machine learning, and Large Language Models. Responsibilities include validating models against established standards, developing benchmarks, challenging and replicating models, assessing model performance, and evaluating model assumptions and weaknesses. The analyst will collaborate with model owners to understand business contexts, review overall model health, identify potential problems, and work with stakeholders to resolve them. This role also involves managing models of advanced complexity, leading special projects, and ensuring adherence to company policies and procedures.

Skills

Risk Model Validation

Quantitative Risk Models

Model Validation

Model Risk Management

Data Analysis

Problem-Solving

Communication

Santander

Provides banking, investment, and insurance services

About Santander

Santander Bank provides a variety of financial services to individuals, small businesses, and large corporations in the United States. Its offerings include savings and checking accounts, loans, credit cards, and investment products. The bank also has specialized services through Santander Investment Services and insurance products via Santander Securities LLC. Santander stands out from its competitors by focusing on community growth, committing $13.6 billion to support initiatives like the 'Cultivate Small Business' program, which aids early-stage entrepreneurs, especially from underrepresented groups. The bank generates revenue through interest on loans, service fees, and commissions, while promoting responsible banking practices and financial education. Santander's goal is to empower individuals and businesses, enhance community prosperity, and provide comprehensive financial solutions.

Boston, MassachusettsHeadquarters

1902Year Founded

$75MTotal Funding

POST_IPO_DEBTCompany Stage

Fintech, Financial ServicesIndustries

10,001+Employees

Benefits

Health, dental, & vision

401k

Flexible PTO

Parental & sick leave

Discounts: technology, travel, auto, fitness, & tuition

Risks

ISO 20022 transition may challenge smaller business partners.

'Quishing' attacks pose a growing threat to consumer security.

Openbank faces competition in the U.S. high-yield savings market.

Differentiation

Santander's Openbank offers a 5.00% APY high-yield savings account nationwide.

The bank's Inclusive Communities Plan pledges $13.6 billion for community initiatives.

Santander's ISO 20022 adoption enhances operational efficiency and data management.

Upsides

Openbank's high-yield savings account attracts more U.S. customers.

Santander's renewable energy financing highlights commitment to sustainable investments.

Proactive cybersecurity measures enhance customer trust and protect digital assets.

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