Model Risk Analyst

Model Risk Analyst

This position is national remote. You'll enjoy the flexibility to telecommute* from anywhere within the U.S. as you take on some tough challenges. For all hires in Minneapolis, Virginia, Maryland, or Washington, D.C. area, you will be required to work in the office for a minimum of four (4) days per week.

Optum is a global organization that delivers care, aided by technology to help millions of people live healthier lives. The work you do with our team will directly improve health outcomes by connecting people with the care, pharmacy benefits, data and resources they need to feel their best. Here, you will find a culture guided by inclusion, talented peers, comprehensive benefits and career development opportunities. Come make an impact on the communities we serve as you help us advance health optimization on a global scale. Join us to start Caring. Connecting. Growing together.

The Model Risk Analyst will be responsible for executing on model governance and model validations in alignment with the Bank's Model Risk Management ('MRM') governance framework. The Model Risk Analyst will work with model owners, other MRM analysts, and management to ensure model documentation and risk management processes are implemented appropriately to meet business needs/regulatory obligations and ensure appropriate governance processes are followed and documented in all phases of the model lifecycle: model development, use, calibration/validation, and decommissioning.

Responsibilities will also include stress testing, back testing, replication testing and effective challenge of the Bank's models during internal validations, including but not limited to fixed income, fraud, financial forecasting, capital adequacy, liquidity, credit underwriting and credit loss models.

If qualified candidate lives in the Draper, UT / Salt Lake City, UT area, the position will be hybrid, and the candidate will be required to come to the Draper, UT office 3 days a week.

This position is full time, Monday - Friday. Employees are required to have flexibility to work any of our shift schedules during our normal business hours of 8:00 am - 5:00 pm. It may be necessary, given the business need, to work occasional overtime.

This will be on the job training and the hours during training will be during normal business hours, Monday - Friday.

Primary Responsibilities:

• Assist in documenting model policies, methodologies, and processes when appropriate
• Maintain the Model Inventory tracker and Model Risk Assessment for each model
• Ensure model documentation is completed for each model or non-model tool
• Participate in completing internal and external model validations
• Stress testing, back testing, replication testing and effective challenge of the Bank's models
• Provide challenge to model implementation, model performance, and model validation processes, ensuring adherence to appropriate MRM standards
• Provide recommendations for enhancements to MRM templates and procedures
• Assist the Bank in advancing its Model Risk governance framework and MRM program

You'll be rewarded and recognized for your performance in an environment that will challenge you and give you clear direction on what it takes to succeed in your role as well as provide development for other roles you may be interested in.

Required Qualifications:

• Bachelor's degree
• 3+ years of experience working in a bank OR other financial institution with duties focused on documenting policies, standards, and procedures related to implementing sound risk management practices, methods, tools, and processes
• 3+ years of experience with Microsoft Office PowerPoint (creating and executing presentations), and Microsoft Excel (Pivot Tables, VLOOKUP, Formulas, Formatting, etc.)
• 2+ years of programming experience in high-level programming languages such as SQL, Python, OR other related languages with experience in data manipulation and analysis
• Experience with internal and external model validations, including stress testing, back-testing, and replication testing, while providing effective challenge to model implementation, model performance, assumptions, and validation results to ensure model accuracy, reliability, and regulatory compliance
• Experience developing and implementing quantitative models, CECL, Fraud, and / OR Credit underwriting within a financial institution OR relevant industry
• Ability to travel a few times a year for onsite meetings and other business-related needs
• Ability to work full time, Monday - Friday. Employees are required to have flexibility to work any of our shift schedules during our normal business hours of 8:00 am - 5:00 pm. It may be necessary, given the business need, to work occasional overtime.

Preferred Qualifications:

• Bachelor's degree in Finance, MIS, Quantitative Finance, Mathematics, Statistics, Economics, OR a related field with a focus on financial modeling
• Regulatory experience OR experience in assisting with regulatory examinations
• Knowledge of statistical modeling techniques, econometrics, time-series analysis, and risk management principles
• Functional knowledge in meeting regulatory expectations and standards in all phases of the model development, use, and maintenance process
• If qualified candidate lives in the Draper, UT / Salt Lake City, UT area, the position will be hybrid, and the candidate will be required to come to the Draper, UT office 3 days a week.

Telecommuting Requirements:

• Ability to keep all company sensitive documents secure (if applicable)
• Required to have a dedicated work area established that is separated from other living areas and provides information privacy
• Must live in a location that can receive a UnitedHealth Group approved high-speed internet connection or leverage an existing high-speed internet service

Soft Skills:

• Assertive self-starter, with strong verbal and written skills
• Ability to analyze, manage and resolve complex issues with attention to detail

*All employees working remotely will be required to adhere to UnitedHealth Group's Telecommuter Policy

Pay is based on several factors including but not limited to local labor markets, education, work experience, certifications, etc. In addition to your salary, we offer benefits such as, a comprehensive benefits package, incentive and recognition programs, equity stock purchase and 401k contribution (all benefits are subject to eligibility requirements). No matter where or when you begin a career with us, you'll find a far-reaching choice of benefits and incentives. The salary for this role will range from $60,200 - $107,400 annually based on full-time employment. We comply with all minimum wage laws as applicable.

Application Deadline: This will be posted for a minimum of 2 business days or until a sufficient candidate pool has been collected. Job posting may come down early due to volume of applicants.

At UnitedHealth Group, our mission is to help people live healthier lives and make the health system work better for everyone. We believe everyone-of every race, gender, sexuality, age, location, and income-deserves the opportunity to live their healthiest life. Today, however, there are still far too many barriers to good health which are disproportionately experienced by people of color, historically marginalized groups, and those with lower incomes. We are committed to mitigating our impact on the environment and enabling and delivering equitable care that addresses health disparities and improves health outcomes - an enterprise priority reflected in our mission.

UnitedHealth Group is an Equal Employment Opportunity employer under applicable law and qualified applicants will receive consideration for employment without regard to race, national origin, religion, age, color, sex, sexual orientation, gender identity, disability, or protected veteran status, or any other characteristic protected by local, state, or federal laws, rules, or regulations.

UnitedHealth Group is a drug - free workplace. Candidates are required to pass a drug test before beginning employment.