Overview

This is a remote role that may be hired in several markets across the United States.

This Senior Risk Analyst position is within First Citizens Bank's Model Risk Management (MRM) team, with a primary focus on conducting validations of the Bank's fraud models. Our Financial Crimes and Compliance (FC&C) model inventory encompass a diverse range of models, including both machine learning and rules-based systems. To provide an effective challenge, subject matter expertise is essential. A successful candidate must possess strong knowledge of AI/ML and have a thorough understanding of the workflow of a transaction or an application entry/submission to filing of a claim.

Responsibilities

• • Conduct independent model validations to ensure fraud models align with business objectives and design objectives. Verify that models are performing as expected. Identify potential limitations, which includes assessing potential impact.
  • Write detailed model validation reports that present the results from executing a thoughtful and thorough model validation plan.
  • Communicate the model validation findings to model owners, senior management, and regulatory agencies as required.
  • Perform annual reviews and review the on-going monitoring reports to ensure that the models are performing as intended.
  • Interact with all key stakeholders including model users, model owners, vendors, Model Risk Governance, and other Validators throughout the model lifecycle including validation, ongoing performance evaluation.
  • Suggest enhancements to the existing fraud validation process including Validation templates, on-going monitoring of models, automation of repetitive tasks.
  You may be asked to help guide junior team members on model validations.
  

• Experience developing or validating fraud models (including card transaction models, wire transactions, check processing, account opening, customer verification, etc.)
• Well-versed with various performance metrics and the use cases for each, including Kolmogorov-Smirnov, Value Detection Rate, Incident Detection Rate, Area Under Curve, Population Stability Index, Character Stability Index, Precision, Recall, False Positive Ratio, etc.
• Experience maintaining or validating vendor developed models.
• Good writers of technical reports.
• Strong analytical skills and ability to find patterns in transactional data.
• Advanced programming skills in Python, SQL, SAS, or R.
• Experience using SQL to pull data from enterprise warehouse databases.
• Experience developing and/or validating AI/ML models and rule-based models.
• Exceptional understanding of the banking industry and business lines.
• Experience communicating validation standards and technical concepts to key stakeholders.
• Good understanding of federal guidance related to model risk management (SR 11-7, OCC 2011-12).