Boston, United States of America
The Sr. Associate, Market Risk will assist the Interest Rate Risk team in managing the Models, Expert Judgments, Overlay and Assumptions that are integrated into the Financial Risk tool, QRM. The Sr. Associate will oversee the entire Model lifecycle from Model Identification to Model Decommissioning. In addition, the Sr. Associate will oversee the increasingly important task of managing Expert Judgments / Overlays / Assumptions that are developed and maintained internally by Market Risk.
Key Responsibilities:
- Work on the development of Expert Judgment Models (EJMs), Model Overlays and Management Adjustments for underperforming models. Maintains documentation for all EJMs, Overlays.
- Liaise with Lines of Business to determine correct IRR Assumptions. Gather data from disparate sources to justify Assumption changes.
- Construct Performance Monitoring processes for any new EJM/Overlay developments.
- Run recurring Model Performance Monitoring processing and presents results to Stakeholders.
- Maintain Model Implementation Documentation for all IRR Models.
- Liaise with Methodology and Model Risk Management for the development and validation of Models.
- Conduct ad-hoc IRR analysis.
- Acts as first line of defense for all IRR Model-related questions.
- Documents all changes to Monthly and Quarterly Procedures.
- Work with headquarters and subsidiaries to make sure compliance in procedures and standards.
Qualifications:
- Master's in a quantitative field such as Finance, Physics, Mathematics, or a related discipline with a modeling background.
- 7-10 years of experience in market risk model development and/or validation within the financial services industry is highly desired.
- Experience with pricing and risk models
- Strong analytical skills required to understand quantitative models.
- Strong knowledge and understanding of financial products.
- Strong communication skills, both written and verbal.
- Experience using QRM highly desired.
- Proficiency in Excel, SQL, Access.
- Hands-on experience with mathematical programming such as R, MATLAB.
Diversity & EEO Statements: At Santander, we value and respect differences in our workforce and strive to increase the diversity of our teams. We actively encourage everyone to apply.
Santander is an equal opportunity employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, genetics, disability, age, veteran status or any other characteristic protected by law.
Working Conditions: Frequent Minimal physical effort such as sitting, standing and walking. Occasional moving and lifting equipment and furniture is required to support onsite and offsite meeting setup and teardown. Physically capable of lifting up to fifty pounds, able to bend, kneel, climb ladders.
Employer Rights: Employer Rights: This job description does not list all of the job duties of the job. You may be asked by your supervisors or managers to perform other duties. You may be evaluated in part based upon your performance of the tasks listed in this job description. The employer has the right to revise this job description at any time. This job description is not a contract for employment and either you or the employer may terminate at any time for any reason.
Primary Location: Boston, MA, Boston
Other Locations: Massachusetts-Boston,New York-New York
Organization: Santander Holdings USA, Inc.