Quantitative Model Validation Analyst

Federal Reserve Bank of Minneapolis

Federal Reserve Bank of Minneapolis

Minneapolis, MN, USA
Posted on Saturday, June 3, 2023


Federal Reserve Bank of MinneapolisSystem Validation
Our Supervision, Regulation and Credit Division, is looking for a new Validator within the Stress Testing Department. Our Validator’s primary objective is to provide an independent and credible challenge to the supervisory stress models used to help assess the capacity for large, systemically important financial institutions to absorb losses under baseline and stressed economic conditions. This role is importance is to provide the Board reports that provide an accurate assessment of the economic environment.

Job Description:

  • Completes components of validation activities.
  • Completes components of validations on the Federal Reserve System's internally developed Comprehensive Capital Analysis
  • and Review (CCAR)/Dodd Frank Act Stress Testing (DFAST) or other supervisory models to assess and control model risk in
  • compliance with applicable guidance, policies and procedures.
  • Follows and enhances existing model validation processes to provide independent effective challenge to model developers.
  • Communicates, describes, supports, and discusses findings of model validations with Reserve Bank management.
  • Provides feedback on validation reports and findings based on areas of expertise.
  • Independently identifies and communicates findings.
  • Completes complex assignments and projects related to department, Reserve Bank, and System.
  • Independently prepares for meetings with validation stakeholders.
  • Utilizes a variety of advanced software systems and applications, coordinates and prepares information, reports, and analysis.
  • Consults with other validators on areas of expertise. Provides feedback to teammates on validation reports.
  • Manages time effectively to deliver projects in accordance with scheduled deadlines.
  • Position may require some travel to other Reserve Banks and/or Board to perform the essential functions of the job, which
  • usually requires carrying a laptop computer and work papers (which generally weigh about 30 lbs.) in addition to one's personal
  • luggage.

Job Responsibilities:

  • Bachelor's degree in Economics, Statistics, Math, Business, Accounting, Finance, or related quantitative fields.
  • Some experience in model validation, audit, and controls preferred (For Level II: Must have 3 years of experience; For Level III: Must have 5 years of experience)
  • Ability to find information and seek resources to validate a particular model or risk practice.
  • Some background knowledge of specific portfolios.
  • Ability to understand and validate several types of model or risk practices.
  • Experience with programming, or statistical software working with large databases preferred.
  • Experience with different numerical methods and modeling techniques preferred.
  • Good written and oral communication skills.

Our total rewards program offers benefits that are the best fit for you at every stage of your career:

  • Comprehensive healthcare options (Medical, Dental, and Vision)
  • 401K match, and a fully funded pension plan
  • Paid time off and holidays
  • Generously subsidized public transportation
  • Annual educational assistance
  • On-site fitness facility
  • Professional development programs, training and conferences
  • And more…

The Minneapolis Fed is committed to developing a diverse workforce and providing an inclusive environment where all employees are respected and valued. We believe that we can foster development opportunities for all and reach our full potential by recognizing the unique experiences and identities of each of our colleagues. From economists to cash specialists, we work together to represent you in our economy.

Additional Information:

* This position qualifies for a hybrid working arrangement that supports remote work but requires regular on-site attendance.

* This position requires access to confidential supervisory information and/or FOMC information, which is limited to "Protected Individuals" as defined in the U.S. federal immigration law. Protected Individuals include, but are not limited to, U.S. citizens, U.S. nationals, and U.S. permanent residents who either are not yet eligible to apply for naturalization or who have applied for naturalization within the requisite timeframe. Candidates who are not U.S. citizens or U.S. permanent residents may be eligible for the information access required for this position and sponsorship for a work visa, and subsequently for permanent residence, if they sign a declaration of intent to become a U.S. citizen and meet other eligibility requirements. In addition, all candidates must undergo applicable background checks and comply with all applicable information handling rules, and all non-U.S. citizens must sign a declaration of intent to become a U.S. citizen and pursue a path to citizenship

Full Time / Part Time

Full time

Regular / Temporary


Job Exempt (Yes / No)


Job Category

Bank Examination

Work Shift

First (United States of America)

The Federal Reserve Banks believe that diversity and inclusion among our employees is critical to our success as an organization, and we seek to recruit, develop and retain the most talented people from a diverse candidate pool. The Federal Reserve Banks are committed to equal employment opportunity for employees and job applicants in compliance with applicable law and to an environment where employees are valued for their differences.

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