Model Risk Quantitative Analyst

As a leading regional bank, SouthState has been providing financial solutions to individuals, families, and businesses in the Southeast for more than 100 years. SouthState team members strive to create remarkable experiences while building meaningful and lasting relationships. We are proud to be a reflection of the communities we serve, and our team members share core values that make SouthState a great place to bank, and a great place to work.

SUMMARY/OBJECTIVES

Position is a model validator role with the model risk management team and works closely with the Treasury and Credit Loss Forecasting teams. The role is responsible for conducting model validations and providing critical analysis of model assumptions, methodologies, data, and calculations to determine a model's suitability based on its intended business use. This position requires experience working with credit models and includes providing technical guidance and leadership to model developers and other leaders throughout the Bank.

ESSENTIAL FUNCTIONS

Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

• Independently conducts model validation and model risk governance across business units including regulatory and regulatory sub models.
• Applies robust model validation methodology to assess the conceptual soundness of model theory, quality of model implementation, and model ongoing monitoring.
• Develops and applies model quality assessment and approval criteria to ensure the integrity of model implementation, inputs, outputs, monitoring and reporting.
• Assists in developing and maintain model documentation, work papers and professional reports of validation results.
• Communicates findings from validate work to management and stakeholders, including recommendations as appropriate.
• Summarize and present model validation results to model risk management committee as requested.
• Ensures business continuity under all conditions, sometimes adverse, with strict adherence to established guidelines and deadlines.

COMPETENCIES

• Adept at working virtually and experience leading credit model development or validations.
• Strong technical writing and verbal communication skills are required.
• Internally motivated to drive process improvement.
• Superior time management skills are required.

Qualifications, Education, and Certification Requirements

EDUCATION

• Required: MS (or equivalent experience)
• Preferred: PhD Degree in Statistics, Applied Economics, or other Quantitative discipline

EXPERIENCE

• In-depth knowledge of credit loss forecasting, PD/LGD/EAD, loss reserve, CECL, capital and stress testing models.
• Demonstrated experience in leading credit model development or model validations and working with large and complex data sets.
• Strong knowledge of SR11-7, credit model development, stress testing, and other regulatory requirements.
• Strong analytical skills, both quantitative and qualitative.
• Effective interpersonal skills, strong communication, especially written.
• Work Experience: 5 to 7 years of specialized experience in banking or credit financial modeling.
• Advanced knowledge of a statistical programming package is required.
• Ability to challenge model frameworks through benchmark/challenger model development using advanced modeling techniques
• Advanced knowledge of applied statistics such as Regression Analysis, Bayesian Statistics, Importance Sampling, etc

TRAINING REQUIREMENTS/CLASSES

Required annual compliance training, New Employee Orientation, MRM specific training

PHYSICAL DEMANDS

Must be able to effectively access and interpret information on computer screens, documents, reports, and cash denominations, and identify customers. This position requires a large amount of time in front of a computer. This can be done sitting or standing with use of the right desk.

WORK ENVIRONMENT

Telecommuting roles no matter if hybrid or 100% full time telecommuting must have a secure home office environment that is free from background noise and distractions. They must also have a reliable private internet connection that is not supplied by use of cellular data (hot spot). Cable or fiber connections are preferred. Requirements are subject to change, as new systems and technology is delivered.

TRAVEL

Travel may be required to come to meetings as needed.

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Benefits: Benefits | SouthState Careers (southstatebank.com)

Job Details:

In accordance with Colorado law: Colorado pay for this position is anticipated to be between $70,000 to $100,000, actual offers to be determined based on applicant's skills, experience and education.

While the anticipated deadline for the job posting is December 31, 2024, we encourage you to submit your application as we may still consider qualified candidates beyond this date.