Who We Are More than 30 years ago, E*TRADE pioneered the online brokerage industry by executing the first-ever electronic individual investor trade. While the landscape of our industry has changed dramatically, our culture of innovation and drive to make online trading accessible to everyone continues to drive us forward. We believe in challenging the status quo, fostering an environment of curiosity and learning, and, above all, putting our customers first.
About the Role SUMMARY A Model Validator in the Model Risk Management Group will execute tasks contributing to model validations projects on a variety of models employed in the banking, brokerage and wealth management areas. At E*TRADE, models are used for managing interest rate, market, margin, credit and operational risks; valuing securities portfolios and financial instruments; monitoring customer activities for fraud and anti-money laundering; providing analytical tools and retirement planning advisory services to clients; and analyzing opportunities for marketing campaigns.
The Model Risk Management Group (MRMG) staff have the opportunity to work with leaders in multiple critical business domains and apply analytical skills to assess and enhance model risk management processes across the company.
Support lead model validator/validation project supervisor in the model validation planning process. This includes performing exploratory research, helping with preparation of planning documents such as validation scope, timeline, and material request lists
Perform assigned model validation tests on thoughtfully, and in an accurate and timely manner. The validation tests can cover various aspects of an end-to-end model validation such as reasonableness/accuracy of inputs; implications of assumptions; reasonableness of modeling framework/construct and methodology, accuracy and appropriateness of model outputs and their usage reasonableness of ongoing model performance; accuracy of model implementation and execution; adequacy of model governance and controls; and assessment of the model's limitations
As analyst becomes more familiar with model validation practices and models at E*TRADE, design model validation tests with support of lead validator
Document the details of the tests performed, performance analysis on the test results, draw conclusions, and present the tests and results to the lead model validator
Track the resolution and remediation of validation findings
Track the ongoing performance of models and report observations to management
Advanced degree in Econometrics, Finance, Mathematics, or Engineering Sciences. Degree or certifications in data sciences is a plus
1-3 years' experience in validating or developing econometric models, data mining models, or theoretical approximation methods; in a financial institution. Prior working knowledge with machine learning techniques is a plus
Prior work experience in financial services sector
Advanced skills in one or more of the following software packages: R, Python, SAS, MATLAB, VBA, SQL, PERL
Understanding of OCC 2011-12 and SR 11-7 guidance on model risk management
Demonstrated ability to produce clear, concise work products (e.g., reports, white papers, published articles, presentations)
Ability to work effectively in a high pressure, fast-paced environment with multiple deadlines and competing priorities
Interest in working on multiple projects at a given time and in learning about the principles and practices of model risk management and governance
Ability to be curious, willingness to ask questions, resourcefulness and perseverance to pursue and obtain answers to questions, and creativity to think "outside-the-box"
We offer a competitive and comprehensive benefits package. Please visit https://www.etradecareers.com/why-work-at-etrade/employee-benefits/ to learn more about the opportunities.
E*TRADE Financial is an Equal Opportunity Employer who encourages diversity in the workplace. All qualified applicants will receive consideration for employment without regard to race, color, national origin, religion, sex, age, disability, citizenship, marital status, sexual orientation, gender identity, military or protected veteran status, or any other characteristic protected by applicable law.
Internal Number: 6284579
About E Trade Financial
eFinancialCareers is a career site specializing in financial services.