Head of Objective Forecasting

Role Description

The Senior Quantitative Model Development Officer II manages model development activities specific to a Line of Business, Function or Risk discipline. Core responsibilities specific to the model development life cycle include:

• Planning
• Data appropriateness
• Model estimation
• Model evaluation/interpretation
• Ensuring models are fit for intended use

Assistance responsibilities, which vary from model to model, include:

• Business process integration
• Model deployment
• On-going model evaluation

We are seeking a senior transformative leader to spearhead Truist’s Objective Forecasting function within the Quantitative Office. The Head of Objective Forecasting will lead the development of a consistent system of measurement for financial and capital planning which can inform strategy, risk positioning, and optimization. The Objective Forecasting team supports the models used in stress testing (CCAR), the allowance for credit loss (ACL/CECL), market valuation and earnings at risk (IRR), and market risk. This support includes:

• Implementation
• Production
• Monitoring of the credit loss and quantitative finance inventory of models

Importantly, this function also drives the consolidated output and automation of the model’s financial output to create an objective measurement for the firm’s outlook and performance.

Qualifications

• Bachelor's degree in Statistics, Econometrics, Applied Mathematics, Operations Research, or other applied quantitative science, or equivalent education and related training.
• 10+ years of relevant experience, or equivalent financial industry experience developing, documenting, implementing, or validating quantitative models.

Preferred Qualifications:

• Master's degree or higher in Statistics, Econometrics, Mathematics, or other applied quantitative science, or equivalent education and related training.
• 3-5+ years of relevant experience supervising or acting as a team lead over teammates with quantitative educational and/or work backgrounds.

Requirements

• Manage model development/estimation activities across the model life cycle, including planning, data acquisition, estimation, evaluation, documentation, approval, model/business process integration and implementation.
• Build / lead a team of highly skilled quantitative model developers to develop risk models using advanced modeling approaches and set the standard for excellent performance.
• Provide leadership / mentorship to other quantitative model development managers across various products, modeling disciplines and complexities.
• Establish, maintain and administer model development infrastructure, process and procedures.
• Assist various parties (e.g., lines of business leads) with identifying/assessing viable model development opportunities.
• Assist with model compliance activities as it relates to Model Risk Management/SR 26-2 policy/standards.
• Assist client (model owner) with integrating model into the business process and model deployment activities, including production scoring support and sustainability, as appropriate.
• Provide on-going model support specific to evaluation/surveillance and interpretation of model performance.
• Provide consultation and represent client (model owner) during 3rd party assurance provider (e.g., Model Risk Management, Corp Audit, regulatory bodies) reviews and Q&A activities.

Benefits

• Medical, dental, vision, life insurance, disability, accidental death and dismemberment.
• Tax-preferred savings accounts and a 401k plan.
• No less than 10 days of vacation (prorated based on date of hire and by full-time or part-time status) during the first year of employment.
• 10 sick days (also prorated) and paid holidays.
• Potential eligibility for Truist’s defined benefit pension plan, restricted stock units, and/or a deferred compensation plan.