Model Risk Analyst

Model Risk Analyst

Location: White Plains, US

Summary

Perform quantitative and qualitative analysis on models and assessments of their risks, coordinate with the business units to conduct testing of critical models and document results. Manage the model inventory in the company's governance solution, ensure timely updates of forms and questionnaires, maintain ongoing contact with model owners and reviewers, and oversee adherence to model and other risk policies and procedures. Supports the development of tools and techniques to facilitate ongoing model enhancement for the organization.

Responsibilities

Perform quantitative and qualitative analysis on model risk and other types of risk inventories to identify underlying relationships and assist in the risk roll-up/alignment process.

Work with the Enterprise and/or Operational Risk team, NYPA management, and staff to facilitate the Model Risk Management and broader risk management process for risk identification, definition, assessment, analysis, mitigation, and monitoring throughout NYPA.

Generate risk reports for various levels of the organization including the Executive Risk Management and Resilience Committee (ERRMC).

Work with Enterprise and Operational Risk leadership to ensure effective alignment of the enterprise and operational processes with Internal Audit, Internal Business Controls, and Compliance.

Assist Enterprise and Operational Risk Management team (EORM) in the development of training materials and assist in conducting enterprise and/or operational education/training to various levels of NYPA Business Units management and staff.

Update, maintain and ensure compliance with NYPA's model and other risk frameworks, policies, procedures, and other associated risk management documentation.

Provide support on the implementation and on-going operation of the Governance, Risk, and Compliance (GRC) software module specific to the model risk programs.

Coordinate the resolution of risk software problems with the vendor or the NYPA IT department as needed. Perform regular updates to the model risk and other risk repositories and perform risk assessments using reporting tools to ensure integrity of the repository database.

Create and maintain up-to-date meeting minutes, reports and related materials for the Enterprise and Operational Risk website.

Work with senior EORM Team members to establish and implement the Enterprise and/or Operational Risk task level schedule to ensure timely delivery of assigned work products.

Knowledge, Skills and Abilities

Working knowledge of various types of risk including Model, Operational, Asset, Project and Enterprise level risks.

General knowledge of Enterprise-wide risk management program development and implementation; including best practices, frameworks, and associated software systems.

General knowledge of Internal Audit and Internal Business Controls practices.

General understanding of the fundamentals of probabilistic scenario analysis and analysis techniques the associated application to risk management.

Proficient in spreadsheet and/or statistical analysis packages. Working knowledge of Access, Word, PowerPoint, statistical software, and MS Project.

Understanding of enterprise risk management best practices as they apply to the energy/utility industry.

Ability to prepare and deliver clear and concise summaries and insights with assistance from senior specialists and director.

Education, Experience and Certifications

Bachelor's degree in Business Administration, Finance, Accounting, or Economics.

A minimum of 2 years directly relevant experience with risk analysis, integration of business processes and development/implementation of enterprise risk programs is preferred.

Physical Requirements

The New York Power Authority is committed to providing fair, competitive, and market-informed compensation. The estimated salary range for this position is: $74,000-$102,300. The salary offered will be determined based on the successful candidates' relevant experience, knowledge, skills, and abilities.

The New York Power Authority and Canal Corporation believes that diversity, equity, and inclusion drive our success, and we encourage women, people of color, LGBTQIA+ individuals, people with disabilities, members of ethnic minorities, foreign-born residents and veterans to apply. As an equal opportunity employer, NYPA/Canals is committed to building inclusive, innovative work environments with employees who reflect communities across New York and enthusiastically serve them. We proudly celebrate diversity and do not discriminate based on race/color, creed/religion, national origin, citizenship or immigration status, age, disability, military status, gender/sex, sexual orientation, gender identity/expression, pregnancy and related conditions, familial/marital status, domestic violence victim status, predisposing genetic characteristics, arrest/criminal conviction record or any other category protected by law.

NYPA/Canals will also provide reasonable accommodations during the hiring process related to candidates' disabilities, pregnancy-related conditions, religious observances/practices and/or domestic violence concerns. To request an accommodation, please email accessibility@nypa.gov.

Nearest Major Market: White Plains

Nearest Secondary Market: New York City

Job Segment: Internal Audit, Risk Management, Testing, Equity, Database, Finance, Technology