Validating financial models
• act as the first point of contact in the US for all models, including those that are jointly used in the US and UBS Group, to communicate status of validation of these models to US legal entity governing bodies and bridge the time gap between US and the other locations (i.e.
CECL is a high risk and highly complex model given the different model methodologies that can be used for different portfolios, possible financial impact for the accounting change, ongoing impact to the financial statements, and the regulatory impact. It is very important for a financial institution to monitor its potential losses to prepare for the future.• achieved the Director or VP title equivalent at a reputable financial institution developing or validating credit risk models. • 5 years of hands on experience in developing or validating models in either Market Risk or Treasury Risk. The Great Recession taught us that the previous method for accounting for losses was “too little, too late”.
To ensure proper liquidity and capital ratios we must look to the future to determine the quality of our loan portfolios.
It started with a shell policy and inventory that has been refined over the past 4 years and now includes a team of validators to allow UMB the ability to conduct all validations internally.