Model Risk Analyst

Summary

Perform quantitative analysis on models and assessments of their risks, coordinate with the first line to conduct testing of critical models and document results. Manage the model inventory in the company’s governance solution, ensure timely updates of forms and questionnaires, maintain ongoing contact with model owners and reviewers, and oversee adherence to model risk policies and procedures.

Researches and applies knowledge of existing and emerging data management principles, theories, and techniques to inform business decisions. Develops tools, techniques, and theories to facilitate ongoing research activities of the organization. Uses predictive and prescriptive analytics tools to forecast what may happen using probabilities and the current confidence levels. Designs, develops, and manages data centric solutions. #LI-CJ1

Responsibilities

• Perform statistical, quantitative and qualitative analysis on individual risks and the model risk inventory to identify underlying relationships and assist in the risk roll-up/alignment process
• Work with the Enterprise and/or Operational Risk team , NYPA management, and staff to facilitate the Model Risk Management process for risk identification, definition, assessment, analysis, mitigation, and monitoring throughout NYPA
• Generate risk reports for various levels of the organization including the Executive Risk Management and Resilience Committee (ERRMC) and Executive Management Committee (EMC)
• Work with Enterprise and Operational Risk leadership to ensure effective alignment of the enterprise and operational  processes with Internal Audit, Compliance, and the Office of Strategy Management
• Assist EORM Team in the development of training materials and assist in conducting enterprise and/or operational education/training to various levels of NYPA Business Units management and staff
• Update and maintain NYPA’s model risk frameworks, policies, procedures, and other associated  risk  management documentation
• Provide support on the implementation and on-going operation of the Governance, Risk, and Compliance (GRC) software module specific to the model risk programs
• Coordinate the resolution of risk software problems with the vendor or the NYPA IT department as needed
• Perform regular updates to the model risk repository, assessment, and reporting tool and ensure integrity of the repository database. Create and maintain up-to-date meeting minutes, reports and related materials for the Enterprise and Operational Risk website.
• Work with senior EORM Team members to establish and implement the Enterprise and/or Operational Risk task level schedule to ensure timely delivery of assigned work products

Knowledge, Skills and Abilities

• Working knowledge of various types of risk including, Market Risk, Operational Risk, Credit Risk, Liquidity Risk, Financial Instrument Risk
• General knowledge of Enterprise-wide Risk management program development and implementation including best practices, frameworks, and associated software systems
• General knowledge of Strategic Planning, Compliance, and Internal Audit practices
• Firm understanding of the fundamentals of probabilistic scenario analysis and the associated application to risk management
• Strong understanding of financial instruments and analysis techniques (value at risk, cash flow at risk, earnings at risk)
• Proficient in spreadsheet and/or statistical analysis packages. Working knowledge of Access, Word, PowerPoint, statistical software, and MS Project.
• Understanding of enterprise risk management best practices as they apply to the energy/utility industry
• Understanding of NYPA’s financial planning tools
• Ability to prepare and deliver clear and concise summaries and insights with assistance from senior specialists and director
• Ability to work and interact with all levels of management and across all NYPA business units and departments

Education, Experience and Certifications

• Bachelor’s degree in Business Administration, Finance, Accounting, or Economics
• Minimum of 2 years directly relevant experience with risk analysis, integration of business processes and development/implementation of enterprise risk programs is preferred

Physical Requirements

• Flexibility to work overtime, as needed, will be required
• Valid US driver’s license
• Ability to travel within NYS (up to 25%)