Corporate Vice President - Senior Quantitative Analyst, Model Validator

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Date: Jun 26, 2022

Location: New York, NY, US

Company: New York Life Insurance Co

 

 

When you join New York Life, you’re joining a company that values career development, collaboration, innovation, and inclusiveness. We want employees to feel proud about being part of a company that is committed to doing the right thing. You’ll have the opportunity to grow your career while developing personally and professionally through various resources and programs. New York Life is a relationship-based company and appreciates how both virtual and in-person interactions support our culture.

 

 

The Senior Quantitative Analyst - Model Validator will be responsible for independently validating a variety of capital markets, risk, asset management and statistical models, with asset classes including fixed income, equities, structured products and real estate. Reporting to the Lead of Non-Actuarial Model Validation, the Senior Quantitative Analyst - Model Validator will participate in developing appropriate metrics for measuring the risk of models in use by the company. Working with the Model Risk Management (MRM) team, the Senior Quantitative Analyst - Model Validator will lead the planning and execution of validations of non-actuarial models across the company, assist the MRM team in implementing its model risk management framework and validation standards, and contribute to the assessment of model risk across the institution.

 

Responsibilities:
• Lead and conduct validations of the company’s capital markets, risk, asset management and statistical models, based on internal Model Risk Management policy and procedures, regulatory guidance, and industry best practices
• Compose and review model validation reports, ensuring that they meet internal Model Risk standards
• Collaborate with the Actuarial Validation team to comprehensively validate a variety of models, including models with intertwined financial and insurance risks
• Communicate findings and recommendations from model validations to model owners and model users
• Work closely with model owners and model users to understand model uses and business applications
• Present findings to Senior Management and the Model Risk Committee, as appropriate
• Lead efforts at building benchmark and test models used by model validation team
• Contribute to monitoring model validation findings and evaluating remediation actions
• Collaborate with the Lead of Model Risk Governance to ensure model governance and standards are appropriate for the firm’s risk profile and are adhered to firm-wide

 

Qualifications:
• Graduate-level degree with concentration in a quantitative discipline such as mathematics, statistics, physics, engineering, econometrics, etc.
• Minimum of 7 years of experience in model validation or model development in banking, insurance or consulting
• Team-oriented with a strong sense of ownership and accountability
• Strong leadership, interpersonal and relationship management skills

• Experience in documenting modeling approaches, techniques and validation practices

• Familiarity with model documentation requirements that meet regulatory expectations
• Strong verbal and written communication skills. Ability to review, critique and improve lengthy reports and model documentation
• Proven track record and demeanor to handle highly confidential and sensitive matters in a changing environment
• Experience with at least one of the following numerical and statistical tools: Python, R, MATLAB, C++, Java

 

Preferred Qualifications:
• Ph.D. in a relevant discipline

 

Work Schedule:  Hybrid, work in the office on Tues, Wed, Thur and remote on Mon and Fri

 

SF: LI-KV-1

 

Recognized as one of Fortune’s World’s Most Admired Companies, New York Life is committed to improving local communities through a culture of employee giving and volunteerism, supported by the Foundation. We're proud that due to our mutuality, we operate in the best interests of our policy owners. We invite you to bring your talents to New York Life, so we can continue to help families and businesses “Be Good At Life.” To learn more, please visit LinkedIn, our Newsroom and the Careers page of www.NewYorkLife.com.

Job Requisition ID: 86501

 

 

 


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