Job Description
Our client, a major bank in New York City, is looking for talented
Financial Model Developer for Financial Resource Management (FRM) Team.
Permanent position with competitive compensation package (base is 130-175K), excellent benefits, and target bonus.
Must be 4 days per week in New York City Office.
Financial Model Developer FRM seeks a quantitatively oriented individual for the position. Subject matter expert supporting. projects in numerous areas including:
- Developing and enhancing income statement and balance forecast models;
- Liaising with banking and trading counterparts to manage and access the modeling data infrastructure;
- Preparing high quality/robust model documentation and interfacing with Model Validation; and
- General tasks associated with managing the bank’s capital position.
This is a key role in developing, validating, and maintaining predictive models that estimate Pre-Provision Net Revenue and Balance Sheet forecasts for banking trading and banking businesses.
The ideal candidate will possess a strong understanding of how these businesses generate revenue, the associated risks, and the regulatory requirements surrounding model development and validation.
You should also posses a proven record of collaborative team engagement and a commitment to take on unfamiliar tasks and learn new topics.
Responsibilities: - Develop and implement robust PPNR models, including revenue forecasting and risk assessment for banking and trading operations.
- Analyze and understand the revenue-generating activities of trading and banking businesses, including interest income, fee income, and trading gains.
- Identify and quantify risks associated with revenue generation, including market risk, credit risk, operational risk, and liquidity risk.
- Conduct model validation and performance monitoring to ensure accuracy and compliance with regulatory standards.
- Stay current with industry trends, regulatory changes, and best practices in model development and risk management.
- Participate in development, maintenance, and documentation of finance models via OLS regression and A(R) approaches in accordance with Federal Reserve SR 11-7 requirements.
- Evaluate data to identify necessary adjustments and work closely with business users to create robust forecasting models and historical analyses.
- Manage projects and deepen relationships with internal and external counter-parties to enhance institutional knowledge to support the forecasting/capital management processes.
- Ad hoc analyses to solve new problems which may require iterative analyses and dealing with potential uncertainty.
Qualifications: - 5-7 years of relevant work experience in the financial services industry.
- Significant knowledge and experience with statistical software (E.g. Python, SAS, etc.) as well as Microsoft Excel in a business environment.
- A high level of flexibility and dedication to collaborating on team goals in an environment with potential changing conditions, and deadlines.
- Robust understanding of statistical concepts, regression-based forecasting models and time series analysis.
- Ability to effectively analyze large data sets and identify patterns and insights.
- Strong understanding of banking and trading revenue streams, including the ability to analyze complex financial products.
- Familiarity with risk management principles and practices in financial institutions.
- Good communication skills (presentation and written) with an ability to explain underlying drivers and key takeaways from modeled data outputs to technical and non-technical audiences.
- Knowledge of relevant regulatory requirements (e.g., Basel III, Dodd-Frank, SR 11-7) is a plus.
- Candidates with a Bachelor’s degree in areas such as Statistics, Financial Engineering, Econometrics, Mathematics, Finance, Engineering or other advanced quantitative field. Masters a plus.
- Eligible to work in the U.S. without sponsorship.
Please email your resume or u
s e this link to apply directly:
Or email: igork@brainsworkgroup.com
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Keywords:financial bank python sas model regression forecast risk regulatory statistics math quantitative
Job Tags
Permanent employment, Work experience placement, Bank staff, Work at office,