Quantitative Model Risk Validation Analyst - Busey : Job Details

Join to apply for the Quantitative Model Risk Validation Analyst role at Busey.

Application deadline: 8/15/25.

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, adhere to internal policies, and meet regulatory requirements. You will also provide consultation to stakeholders to reduce model risks and enhance profitability, engaging with organizational leaders to identify, quantify, and manage risks.

Duties & Responsibilities

• Lead independent model review processes of quantitative and qualitative models.
• Develop validation schedules to ensure models are reviewed periodically and upon material changes.
• Coordinate internal and external model validations, including scope planning, information requests, meetings, communications, and reporting.
• Perform independent validations, reviewing model appropriateness, assumptions, testing, and documentation; report findings.
• Engage vendors, negotiate validation scope, and review validation reports.
• Provide guidance on risk mitigation, model development, and monitoring, including developing model Key Risk Indicators.
• Review periodic submissions to ensure model performance and monitoring effectiveness.
• Report validation and review results to governance bodies.
• Assist in remediating model findings and provide documentation to management, audit, and regulators.
• Maintain and develop model risk documentation and validation procedures.
• Participate in industry calls to stay updated on regulatory and industry best practices.
• Collaborate with Model Risk Governance and contribute to policy and procedural documentation.
• Lead special projects to enhance Model Risk Management Program.

Education & Experience

• Bachelor's Degree in Economics, Math, Statistics, Finance, or related field.
• Minimum five years of model validation experience at a financial institution subject to SR 11-7 and FDIC FIL 22-2017.
• Proficiency in Microsoft Office; intermediate programming skills (e.g., R, Python).
• Experience with Archer GRC platform.
• Strong financial and credit acumen.

Knowledge & Skills

• Understanding of capital, credit, interest rate, liquidity risks, and CECL regulatory requirements.
• Analytical, strategic thinking, attention to detail.

Abilities

• Ability to work independently and in teams.
• Excellent communication, organizational, interpersonal skills.
• Customer service orientation following The Busey Promise.
• Technical proficiency and accountability.

Benefits & Compensation

Salary: $92,000 – $100,000/year, with potential bonuses. Busey offers a comprehensive Total Rewards package including 401(k) match, profit sharing, stock purchase plan, health benefits, insurance, wellness incentives, and more.

Equal Opportunity

Busey values diversity and is an Equal Opportunity Employer including Disability/Vets.

Application Notes

No unsolicited resumes accepted from recruiters without a formal agreement. Resumes submitted without agreement may not be considered.