Model Validator

THE COMPANY
E TRADE is a leading financial services company and a pioneer in the online brokerage industry. Having executed the first-ever electronic trade by an individual investor more than 30 years ago, the company has long been at the forefront of the digital revolution, offering easy-to-use solutions for individual investors and stock participants. Founded on the principle of innovation and determined to level the playing field for individual investors, E TRADE delivers digital platforms, tools, and professional assistance to help investors and traders meet their near-and long-term investing goals. The Company provides these services both online and through its network of customer service representatives and financial consultants - over the phone at two national branches and in-person at 30 E TRADE branches.
SUMMARY
This position reports into the VP, Model Risk Management. The model validator is responsible for independently validating E TRADE's models used within the Bank and Brokerage business lines, and supporting model governance activities including validation issue tracking and monitoring ongoing model performance.
RESPONSIBILITIES
Perform validations of models used for risk management (i.e., interest rate, market, credit, treasury, margin, and operational risks), and customer-facing analytics (e.g., option trading, retirement/investment planning, stock plan grant valuations)
Execute validation programs that include:
Designing and executing validation tests to assess reasonableness/accuracy/propriety of model inputs, implication of assumptions, framework, methodology, outputs, usage, performance, implementation, controls and limitations of model being validated, as appropriate. Testing includes:
Building alternate benchmark models
Sensitivity testing, scenario analysis (e.g., designing mock transactions, or macroeconomic/company-specific scenarios), backtesting
Working with large datasets within Oracle and Sybase databases
Replicating model results
Designing approaches to test accuracy of model output and reasonableness of model performance
Documenting model validation results including observations and findings
Contribute to model validation reports, and eventually write full validation reports, that will be distributed to model and business owners and other stakeholders (e.g., senior management, internal audit, regulators)
Test remediation of validation findings
Track ongoing performance of models
Produce high quality deliverables
REQUIREMENTS
MUST HAVE EXPERIENCE
Minimum 2 years of experience in model development or validation, preferably in the financial services industry
Theoretical knowledge in single/multifactor term structure models, prepayment models, option pricing models, simulation models, orBayesian models practical knowledge is a plus
Intermediate to advanced proficiency in one or more of the following statistical software packages: MATLAB, VBA, SAS, R software
Experience with scripting and text parsing software like PERL, Python and data aggregation/manipulation languages like SQL.
Bachelor's or Master's degree in a quantitative field (e.g., statistics, physics, mathematics, decision science, finance, economics)
Ability to work effectively and quickly learn new concepts and methodologies in a fast paced environment with multiple deadlines and competing priorities
Demonstrated ability to produce clear, concise written work products

We offer a competitive and comprehensive benefits package. Please visit https://etradecareers.com/why-work-at-etrade/employee-benefits to learn more about the opportunities.
E TRADE Financial is an Equal Opportunity Employer who encourages diversity in the workplace. All qualified applicants will receive consideration for employment without regard to race, color, national origin, religion, sex, age, disability, citizenship, marital status, sexual orientation, gender identity, military or protected veteran status, or any other characteristic protected by applicable law.
Category: Risk Management
Location: Arlington, VA
Job ID: IRC126666
Posted Date: August 12, 2016 56b98a26207d47f49dd5db01f1ecb390

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