QUANTITATIVE ANALYST
Our Company
At FirstBank PR, we strive to be a trusted advisor to our clients and our employees are the ones that ensure we deliver on our promise of excellence in personalized customer service. Our more than 3,100 employees in Puerto Rico, the Virgin Islands and Florida share a passion for excellent customer service. We are proud of our team because they are continuously surpassing our client’s expectations.
Do you have a passion for helping customers, building relationships, and delivering extraordinary, personalized customer service? If your answer is yes, FirstBank is the number one place for you.
A Brief Overview
Performs understanding and validation of modeling methodologies and other risk management activities consistent with the Model Risk Management (MRM) framework and to comply with regulatory requirements. Conducts statistical processes to evaluate model conceptual soundness, assumptions, data quality and completeness, testing, validation, performance monitoring, and controls. The Quantitative Risk Analyst reports to the Model Risk Manager at the ERM and Operational Risk Department.
What You’ll Need to Succeed:
- Understanding of modeling assumptions, inputs, processing, development and model results.
- Build and program challenger statistical models to test model owners’ determined monitoring framework.
- Validate the adequacy of control processes that will mitigate future risk calculation errors.
- Interact/Liaise with model owners, users, developers, and model reviewers.
- Perform statistical based model validations, produce model validation reports, perform annual reviews, and analyze ongoing monitoring for all models.
- Workflow management to ensure deliverables are prepared according to their timelines.
- Preparation and delivery of validation and engagement status updates to internal and external stakeholders.
- Keep current with the best practices recommended by the bank regulators.
- Interact/Liaise with regulatory bodies to support challenger models developed and utilized during validation exercises.
- Perform any other special assignments assigned by the Model Risk Manager and/or the ERM and Operational Risk Director.
- Monitor compliance with continued education requirements of the Bank and professional associations.
- Proactively review current data entry processes for efficiency and identify process improvements, standard operating procedures, best practices.
Competencies:
- Teamwork oriented.
- Strong analytical skills (analytical thinker) and self-starter.
- Committed to accuracy. Maintains and promotes a high standard of confidentiality and strong ethical values.
- Knowledge of mid-size bank operational processes and systems.
- Ability to work under supervision and independently deliver work assignments.
- Hands-on skills in planning, development of work program, fieldwork, and wrap-up.
- Strong communication skills, both written and verbal – English and Spanish.
- Self-directed and self-motivated with an ability to work in a fast-paced environment and efficiently manage and prioritize multiple tasks.
Minimum Requirements You’ll Need:
- Bachelor’s degree in Math, Economics, Finance, Statistics, Engineering or other quantitative disciplines is required.
- 2+ years working experience in risk management, statistical analysis, modeling, or other quantitative discipline.
- Proficient in at least one programming language such as R, Python, SQL, or equivalent, with the ability to work with large datasets.
- Microsoft Office knowledge in Word, Excel, and PowerPoint.
FirstBank Puerto Rico is proud to be an Equal Employment Opportunity Employer and takes affirmative action to employ Women, Protected Veterans, People with Disabilities and Minorities regardless of gender identity, sexual orientation, and any other legally protected status.
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