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At Union Bank, our people are our greatest asset. We are one of the largest banks in California with a longstanding reputation for professional training and career development. In addition to investing in our employees, Union Bank has established a generous community reinvestment program that works to uplift communities and watch them grow. We invest in a diverse workforce as our employees come from many different backgrounds, bringing with them different experiences and perspectives.
Model Risk Manager
Los Angeles, California
Reporting to the SVP CCAR MODEL RISK MGR, and part of the "Modeling Center of Excellence" team, responsible for the development/creation of the Bank's models, primarily related to CCAR (Comprehensive Capital Analysis and Review) for stress testing. Responsible for the forecasting of the key components within pre-provision net revenue (PPNR).
Major responsibilities include:
- Responsible for building the PPNR stress testing models for CCAR. This includes whole cycle of data collection, specifying, developing, implementing, maintaining, and performance tracking of the Bank's PPNR models that are in compliance with regulatory requirements.
- Act as the project lead for assigned projects relating to model development. Provides expertise and advice on communications with the risk committees, internal and external auditors/examiners and senior management of the bank regarding model use and its impact in stress testing. May report periodically to committees and constituencies on behalf of the manager.
- Assess model conceptual soundness, evaluate data integrity and reasonableness of assumptions, test model computational accuracy and performing outcomes analysis under both normal and stress economic environments. Work with the teams across the bank to track the progress of current model development efforts, and secure their alignment with CCAR requirements. Works with model developers and owners to review and challenge the scenario analysis results. Help identify potential issues and provide solutions.
- Work with line of business to build analytical tools for forecasting and business decisions.
The above statements are intended to describe the general nature and level of work being performed. They are not intended to be construed as an exhaustive list of all responsibilities, duties and skills required of personnel so classified.
- 7 to 10 years of specialized work experience in the complex model development, model management and/or model oversight in one or more of the following areas: risk management, market/interest rate risk management, operational risk, economic capital estimation, ALM and valuation.
- Require to have experience with model risk management and associated regulatory requirements: Stress Testing, CCAR and Basel II. Strong knowledge of financial services products (commercial loans, CRE, construction loans and residential mortgages, etc.) and processes preferred.
- Proficient in SAS, R and SQL. Experience with cash flow models.
- Require an advanced degree in finance, financial engineering, economics, mathematics - statistics, engineering, or related field.
- Excellent verbal and written communication skills. Ability to manage multiple projects.
Why Work for Union Bank?
Headquartered in San Francisco, UnionBanCal Corporation is a financial holding company with assets of $87.9 billion at June 30, 2012. Its primary subsidiary, Union Bank, N.A., is a full-service commercial bank providing an array of financial services to individuals, small businesses, middle-market companies, and major corporations. The bank operates 402 branches in California, Washington, Oregon, Texas, New York and Illinois, as well as two international offices. UnionBanCal Corporation is a wholly-owned subsidiary of The Bank of Tokyo-Mitsubishi UFJ, Ltd., which is a subsidiary of Mitsubishi UFJ Financial Group, Inc. Union Bank is a proud member of the Mitsubishi UFJ Financial Group (MUFG, NYSE: MTU), one of the world's largest financial organizations. Visit
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- We are a financially strong and stable bank.
- We value workplace diversity.
- We are committed to the training and development of our employees.
- Innovative vacation benefits.
- We offer a matching 401k, a Retirement Plan, a variety of Flexible Health Benefits.
Union Bank offers a competitive compensation and benefits package including a 401K plan. Pre-employment background screening is required for all positions.
Union Bank is committed to leveraging the diverse backgrounds, perspectives, and experiences of our workforce to create opportunities for our people and our business. EOE. M/F/D/V
Union Bank is a full-service bank with offices across the United States. We provide a wide spectrum of corporate, commercial, retail banking...