Risk Management - Model Analyst at Wintrust Financial Corporation in Rosemont, Illinois

Job Description:

Wintrust is a financial holding company with approximately $50 billion assets under management and traded on the NASDAQ:WTFC. Built on the "HAVE IT ALL" model, Wintrust offers sophisticated technology and resources of a large bank while focusing on providing service-based community banking to each and every customer. Wintrust operates fifteen community bank subsidiaries with over 170 banking locations in the greater Chicago and southern Wisconsin market areas. Additionally, Wintrust operates various non-bank business units including commercial and life insurance premium financing, short-term accounts receivable financing, out-sourced administrative services, mortgage origination and purchase, wealth management services and qualified intermediary services for tax-deferred exchanges.

Why join us?

• An award-winning culture! We are rated a Top Workplace by the Chicago Tribune (past 8 years) and Employee Recommended award by the Globe & Mail (past 6 years)


• Competitive pay and discretionary or incentive bonus eligible


• Comprehensive benefit package including medical, dental, vision, life, a 401k plan with a generous company match and tuition reimbursement to name a few


• Family-friendly work hours


• With 175+ community bank locations, we offer opportunities to grow and develop in your career


• Promote from within culture

Why join this team?

• Get the opportunity to learn various aspects of banking operations


• We provide an opportunity to develop leadership skills


• We provide an opportunity to create value with independent thinking and execution

What You’ll Do

Conduct various activities related to enterprise model risk validation and model governance. Individual is accountable for independently validating the technical and functional soundness for bank-wide models including CECL, Stress Testing, Anti-Money Laundering, Economic Sanctions, Customer Risk Ratings, Fair Lending as well as valuation models. Validate and review all models in the inventory in line with MRM policy and procedure, regulatory guidance and industry best practices.

Provide effective and meaningful challenge during the following processes of model validation:

• Review of conceptual soundness;




• Review adequateness of modeling data;




• Materiality analysis of model assumptions and limitations;




• Review of model theoretical framework and design;




• Review of model performance

Review of Model Documentation to ensure compliance with regulation/policy. Model documentation review should consist amongst others the following:

• Assess quality of model documentation;




• Review documentation of developmental evidence;




• Review documentation of model governance;




• Review testing results in the model methodology document

Design and execute a comprehensive and granular program for the following:

• Data Validation;




• Model theoretical framework and design




• Assumptions and Limitations testing ;




• Model Conceptual soundness;




• Back-testing;




• Model Effectiveness Testing, Sensitivity Analysis; and




• Benchmarking for material portfolios

Use MRM Model Validation tool (known as CROWE) to perform model validation activities.

The analyst in collaboration with the VP of Model Risk Management interfaces with key stakeholders throughout validation process to discuss justification and reasoning behind validation and review findings.

In collaboration with VP, Model Risk Management, determine whether response and remediation plan received from model owners and users in response to a finding adequately address findings. Follow up with model owners to ensure findings are remediated in a timely manner.

Knowledge/Skills/Background/Experience

• 0-2 years' experience with models related to credit risk (Consumer and Commercial), Liquidity, Compliance (BSA/AML, Fair Lending), CECL and regulatory/economic capital preferred.


• Masters degree in Mathematics, Statistics, or related field, or equivalent

Benefits

Medical Insurance • Dental • Vision • Life insurance • Accidental death and dismemberment • Short-term and long term Disability Insurance • Parental Leave • Employee Assistance Program (EAP) • Traditional and Roth 401(k) with company match • Flexible Spending Account (FSA) • Employee Stock Purchase Plan at 5% discount • Critical Illness Insurance • Accident Insurance • Transportation and Commuting Benefits • Banking Benefits • Pet Insurance

#LI-HYBRID

From our first day in business, Wintrust has been proud to serve a variety of unique communities and people from all walks of life. To be Chicago’s Bank® and Wisconsin's Bank®, we need to reflect that diversity both in all the communities we serve, the people we employ, the organizations we work with, and our banking and lending practices. Wintrust Financial Corporation, including community banking and financial services subsidiaries, is an Equal Opportunity Employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, national origin, sex, sexual orientation, gender identity and expressions, genetic information, marital status, age, disability, or status as a covered veteran or any other characteristic protected by law.