One of our clients is looking to grow a team of senior risk analysts for their non model risk department that they are developing within their enterprise risk management team.
This position will consist of audit review, risk assessments, EUC, and governance control. They will be following the risk management lifecycle to complete the assessments by ensuring accuracy with risk identification, risk assessment, risk control and mitigation, and monitoring and reporting. The analyst will be responsible for identifying potential risks, use qualitative (low, medium, high) scales to score the risk, develop strategies to manage and reduce risks and then conduct reviews to on strategies to improve future risks.
There are four main areas the analyst will be focusing in. Depending on skill level, this person can choose which area they feel the strongest in:
1. QA/QC - ensure tasks are done accurately and score risks involved
Quality Assurance tasks:
Process Design and Documentation: Ensuring well-defined processes are in place.
Training and Competency: Equipping staff with necessary skills.
Risk Culture: Promoting a risk-aware mindset across the organization.
Internal Controls: Implementing checks to prevent errors.
Continuous Improvement: Regularly assessing and enhancing processes
Quality Control:
Transaction Accuracy: Verifying data accuracy in financial transactions.
Fraud Detection: Identifying irregularities or suspicious activities.
Risk Management: Monitoring compliance with risk policies.
Regulatory Compliance: Ensuring adherence to legal requirements.
Timely Reporting: Promptly addressing issues
2. Inventory management - managing models and inventory records, excel for example, macros, forecasting tools, inputs and outputs and these have to be registered somewhere, these need to be registered everywhere, inventory across the bank, right now could be 10 fields but then you need to add fields, similar to models, the second line has to go in and confirm its being used correctly
3. Risk assessments - reviewing these assessments completed by the business (risk ratings and either model or non-model)
4. Reporting & dashboards - eventually we will need a story and visualization of compiled data, what is compliant, what is not, etc. where is it sitting, slice/dice, present findings, risk profile and risk appetite
Audit analysis - second line independent challenge
Curiosity mindset, what does this really mean ad how to explore, challenge
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5 years - 8 years experience in risk management as an analyst, data scientist, or quantitative analyst
Understand concepts of risk culture/ risk management using governance control standards
Self starter, independent worker
Experience with Risk Assessments - modeling vs. non-modeling
EUC (End User Computing) experience using Excel, Microsoft Access, or other tools to manage, audit, control and manipulate data
Experience with non-model lifecycle concepts (identification, assessment, control and mitigations, monitoring and reporting, and closure and analysis)
Quality Assurance and Quality Control experience (preventing defects and detect/ correct defects for transaction accuracy, risk management, fraud detection and regulatory compliance)
Audit Background in any risk areas such as financial, credit, risk assessment and controls or market
Banking/ finance risk management background
Benefit packages for this role will start on the 31st day of employment and include medical, dental, and vision insurance, as well as HSA, FSA, and DCFSA account options, and 401k retirement account access with employer matching. Employees in this role are also entitled to paid sick leave and/or other paid time off as provided by applicable law.