Financial Model Validation Specialist with Python and R - Hybrid in IL

Overview

Hybrid
Depends on Experience
Accepts corp to corp applications
Contract - W2
Contract - 12 Month(s)
No Travel Required

Skills

Python
Excel
Risk
validation
R
Financial Model
Banking

Job Details

Financial Model Validation Specialist

Hybrid in IL 3 days on site

Duration 12+ months

to assess and enhance the accuracy, reliability, and suitability of financial models used across various business areas.

The successful candidate will ensure compliance with regulatory requirements, internal standards, and business objectives, mitigating model risk through rigorous validation and ongoing monitoring.

Key Responsibilities

  • Conduct independent evaluation of statistical, financial, and machine learning models across multiple domains.

  • Validate loss forecasting models, PPNR models, economic capital models, and market/liquidity risk models to ensure conceptual soundness.

  • Perform in-depth outcome analysis and ongoing monitoring of financial models.

  • Utilize Python, R, SQL, and Excel for comprehensive model testing and validation.

  • Develop and apply statistical methodologies such as time series analysis, econometrics, and regression modeling.

  • Challenge model design assumptions and data performance before and after deployment.

  • Conduct independent testing to validate model robustness and reliability.

  • Provide expert insights into Banking, Fair Lending Policies, Credit Card, and Finance domains.

  • Collaborate across business units to improve model risk management processes.

Technical Skills Required

  • Hands-on experience in model risk validation, statistical modeling, or financial model validation.

  • Proficiency in Python, R, SQL, and Excel for data analysis and model assessment.

  • Strong expertise in statistics, mathematics, econometrics, or finance.

  • Familiarity with model validation tools and techniques.

Models You May Work With

  • Credit Risk Models (IFRS9, scoring models, IRB models, stress testing, ICAAP).

  • Market Risk Models (Assessment and management of market risk exposure).

  • ALM Models (Asset and liability management strategies).

  • Mortgage Servicing Rights (MSR) Valuation Models (Assessing the value of MSRs).

  • CECL Models (Current Expected Credit Loss validation).

  • AML Models (Anti-money laundering model assessment).

Preferred Qualifications

  • Experience working across different lines of business with a strong understanding of banking operations.

  • Deep knowledge of financial regulations, risk management, and fair lending policies.

  • Strong analytical and problem-solving skills with a keen eye for process improvement.

Employers have access to artificial intelligence language tools (“AI”) that help generate and enhance job descriptions and AI may have been used to create this description. The position description has been reviewed for accuracy and Dice believes it to correctly reflect the job opportunity.