Quantitative Model Risk Validation Analyst - Busey Bank : Job Details

Quantitative Model Risk Validation Analyst

Busey Bank

Job Location : all cities,IL, USA

Posted on : 2025-08-22T01:35:20Z

Job Description :

Position Summary

Busey Bank, a growing financial institution established over 150 years ago, operates in Illinois, Kansas, Missouri, Indiana, Texas, Colorado, Oklahoma, Arizona, and Florida. As a Quantitative Model Risk Analyst, your primary responsibility will be leading the company's model validation and review engagements, ensuring models are conceptually sound, comply with internal policies, and meet regulatory requirements. You will also provide guidance to stakeholders to reduce model risks and enhance profitability, fostering positive relationships across the organization to proactively manage risks.

Duties & Responsibilities
  • Lead independent reviews of quantitative and qualitative models.
  • Develop and maintain validation schedules for models based on materiality and change management.
  • Coordinate internal and external validation processes, including scope planning, information requests, meetings, and reporting.
  • Perform independent validation of models, including reviewing appropriateness, challenging assumptions, assessing efficiency, monitoring plans, and documentation.
  • Engage vendors for third-party validation, including scope negotiation, document review, and report approval.
  • Provide expertise and guidance on risk mitigation, model development, and monitoring, including Key Risk Indicators.
  • Review periodic submissions for Tier I, II, and III models to ensure performance consistency.
  • Generate reports on validation activities, model performance, and risk indicators for governance.
  • Assist in remediation efforts and deliver documentation to management, auditors, and regulators.
  • Maintain and improve model documentation and validation procedures.
  • Participate in industry discussions to stay updated on regulatory and best practices.
  • Collaborate with Model Risk Governance for risk assessments.
  • Contribute to policy and procedural documentation, and lead special projects to enhance the Model Risk Management Program.
    • Education & Experience

    Required:

    • Bachelor's Degree in Economics, Math, Statistics, Finance, or related field.
    • Minimum five years of model validation experience in a regulated financial institution.
    • Proficiency in Microsoft Office (Excel, PowerPoint, Word).
    • Intermediate programming skills (e.g., R, Python).
    • Experience with Archer GRC platform.
    • Strong financial and credit acumen.

    Preferred:

    • Knowledge of capital, credit, interest rate, and liquidity risks, and CECL regulations.
    • Analytical and strategic thinking with attention to detail.
    • Ability to work independently and in teams.
    • Excellent communication and organizational skills.
    • Customer service orientation aligned with Busey's service standards.
    • Technical expertise relevant to the role.
    • Responsibility and professionalism in conduct.
    Benefits & Compensation

    Salary is competitive and based on experience, with potential bonuses. The base pay range is $92,000 - $100,000/year. Busey offers a comprehensive Total Rewards package, including 401(k) match, profit sharing, stock purchase plan, paid time off, health benefits, insurance, wellness incentives, and more. Details are available at Busey Total Rewards.

    Equal Opportunity

    Busey values diversity and inclusion, striving to recruit and retain talented individuals. We are an Equal Opportunity Employer, including Disability/Vets. Learn more at Busey.com/Careers.

    Unsolicited Resumes

    Busey does not accept fees for resumes from recruiters or agencies without a formal agreement. We consider unsolicited resumes but reserve the right to hire without obligation. Please refrain from contacting associates directly for recruiting inquiries.

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