Summary: The Financial Risk Analyst, under the direction of the SVP, Financial Risk and Data Analytics, manages all aspects of the day-to-day Model Risk Governance program, Sarbanes-Oxley (SOX) Compliance as well as other key projects related to Financial Risk.
Job Responsibilities:
Model Risk Governance
- Evaluate model documentation and associated risks to develop review strategies.
- Review and analyze model validation reports produced by third party consultants. Discuss results with the model owner and other stakeholders. Monitor any remediation action recommendations for implementation/resolution.
- Perform model validation and identify any deficiencies. Communicate any findings to the respective model owners/stakeholders, recommend remediation actions and monitor their implementation.
- Research relevant regulatory frameworks, underlying products, assumptions, and methodologies
- Develop model review reports and presentations to Credit and Financial Risk Committee and the Board of Directors.
Sarbanes-Oxley (SOX) Testing
- Perform testing of the Bank’s internal controls to determine effectiveness, identify any deficiencies and make recommendations for process improvements or operational efficiency enhancements to strengthen them.
- Identify key controls and develop work programs for testing of these key controls.
- Collaborate with process owners/managers to ensure proper documentation of all significant processes and current procedures. Report testing results to the process owners/managers.
- Review and monitor remediation procedures and exposure analyses for any control deficiencies.
- Analyze and summarize testing results for inclusion in status reports and presentations to Credit and Financial Risk Committee and the Board of Directors.
- Develop and prepare monthly management and quarterly Board level reports.
- Perform the annual risk assessment and scoping exercises.
Insurance
- Support the annual bank insurance renewal process by assisting in the information gathering process.
- Perform claim processing and associated support gathering.
- Update spreadsheets and executive reporting accordingly.
Support the vendor management due diligence process
- Risk assesses new vendor requests and provides a written risk assessment that outlines any discrepancies, deficiencies and/or risks noted for review by the SVP, Financial Risk and Data Analytics.
- Reviews due diligence package documents submitted by the third party and provides a conclusion of the information
- Disseminates vendor due diligence reviews and risk assessment to the necessary parties.
- Reviews existing vendor questionnaires in accordance with the tier-based monitoring schedule and completes all on going monitoring tasks.
- Ensures that new vendor questionnaires are completed by the Line of Business and reviews the data to ensure the risk is measured appropriately.
Administrative
- Performs other job related duties as may be assigned
Professional Development
- Remains up to date on the latest developments with respect to regulatory compliance, industry best practices and standards.
Job Requirements:
- Bachelor's degree required, concentration in finance, economics, or statistics preferred.
- At least 2 years' experience in the financial services industry.
- Analytical skills with attention to detail.
- Excellent written and verbal communication skills.
- Project management skills, including organization and time management.
- Expertise in Microsoft Office Suite including Excel, Word, and PowerPoint.
- Ability to effectively collaborate cross-functionally.
Columbia Bank and its affiliates is an Equal Opportunity Employer
Affirmative Action Employer/Males/Females/Protected Veterans/Individuals with Disabilities
