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Job Summary

Job Responsibilities:

JOB RESPONSIBILITIES 

• Performs independent validation activities for a portfolio of complex and high-impact models by critically evaluating the conceptual soundness of model design, development processes, performance monitoring, and outcomes analysis.
• Conducts in-depth technical assessments, including full replication or challenge of model code, assessment of key assumptions and limitations, and provides expert-level review of model documentation, input data quality, processing logic, and output integrity.
• Reviews sensitivity analysis prepared by the model owner and performs independent sensitivity analysis, as applicable.
• Builds and sustains strategic partnerships with model developers, business-line risk teams, and internal and external auditors to promote transparency, model governance, and alignment with regulatory expectations.
• Authors comprehensive model validation reports and offers strategic recommendations to enhance the robustness of model design, back testing practices, implementation procedures, and ongoing recalibration efforts.
• Documents effective challenge sessions with BPOs, model owners, and developers to discuss validation findings, recommendations, and observations.  Provides practical suggestions to model owners and developers for remediation.
• Validates remediation of model deficiencies, provides subject matter guidance, and communicates via memo.
• Supports the enhancement and automation of model risk reporting frameworks, ensuring clear visibility into model deficiencies, remediation timelines, risk ratings, and other key performance indicators.
• Uses independent judgement and discretion to make decisions.
• Analyzes and resolves problems.

ADDITIONAL ACCOUNTABILITIES

• Performs special projects, and additional duties and responsibilities as required.
• Consistently adheres to regulatory and compliance policies and standards linked to the job as listed and complete required compliance trainings.  Accountable to maintain compliance with applicable federal, state and local laws and regulations. 

JOB REQUIREMENTS 

Required Qualifications:

• Education level required: Master's Degree (or Postgraduate equivalent) in Economics, Computational Finance, Statistics, Applied Mathematics, or related field. 
• Minimum experience required: 6+ Years experience at a financial institution, specifically in risk management and/or model risk management with a focus on BSA/ Anti-Money Laundering (AML) Models.

 
Job Competencies:

• Knowledge of stress testing and banking regulations.
• Excellent knowledge of statistics, mathematics and financial risk modeling.
• Knowledge of MS Office software including Word, Excel, and PowerPoint, ability to produce charts and graphs in Excel.
• Strong project management and organization skills.
• Strong verbal and written communication skills.
• Strong analytical skills and attention to detail.
• Ability to multi-task and prioritize work appropriately.
• Ability to work with all levels of management and staff across all lines of business in the Bank.
• Ability to work independently and on a team and follow through assignments to completion.
• Ability to meet established deadlines.
• Demonstrates a strong ability to build and maintain effective relationships with stakeholders by communicating clearly, engaging in proactive collaboration, and leveraging cross functional insights. Aligns relationship building efforts with enterprise goals to accelerate performance and drive strategic results.
• Builds trusted client relationships, whether internal or external, by identifying needs and delivering tailored solutions to enhance the overall client experience.
• Fosters or supports a positive work culture and productive work environment, displaying importance of effective relationships with customers and stakeholders.
• Physical demands (ADA): No unusual physical exertion is involved.

Flagstar is an Equal Opportunity Employer

We are committed to providing clear and accurate compensation information in accordance with applicable laws. Actual starting base pay will be determined based on location, experience, and other non-discriminatory factors permitted by law. Total compensation may also include variable incentives, bonuses, commissions, or other awards as outlined in the offer of employment. Flagstar provides teammates access to a variety of benefits including medical, dental, vision, life, and disability insurance, as well as a comprehensive leave program. Please click the following link for detailed information: Benefits | Flagstar Bank

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