Model Risk Management Associate

Job Description

Summary: The Model Risk Management Associate will support the bank’s model risk oversight function by assisting in the governance, documentation, and ongoing monitoring of models used across various business units. This junior-level role offers hands-on experience with model process documentation, risk and control analysis, and coordinating remediation efforts.

Salary Range: The salary range budgeted for this position is $60,100/yr to $84,200/yr and represents the Company's good faith minimum and maximum range for this role at the time of posting. The compensation offered to a candidate may vary depending on several factors, including a candidate's qualifications, skills, competencies, experience, and location.

The Company also offers various benefits, including medical, dental, vision, and a 401(K) match. Other rewards may include annual performance-based bonuses and wellness days.

Applicants must have current work authorization when accepting a First Foundation Inc. position. Currently, we cannot sponsor or take over the sponsorship of an Employment Visa.

Duties and Responsibilities:

Understands and complies with requirements of all laws and regulations applicable to the position

Support the governance and ongoing monitoring of financial and non-financial models (credit risk, interest rate risk, ALM, capital planning, etc.).

Assist with assessment of model processes and model risk and control activities.

Perform review and testing of process and access controls on identified systems that run models and tools.

Prepare clear and concise assessment reports and documentation in accordance with internal policies and regulatory standards (e.g., SR 11-7).

Collaborate with model owners and developers to understand model or tool design, purpose, and use.

Track and report model inventory, validation schedules, and issue remediation status.

Contribute to the enhancement of MRM policies, procedures, and governance frameworks.

Stay informed on regulatory expectations and industry best practices related to model risk.

Perform other duties as assigned.

Qualifications: To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. The requirements listed below are representative of the knowledge, skill, and/or ability required. Reasonable accommodations may be made to enable individuals with disabilities to perform essential functions.

Education and/or Experience:

Bachelor's degree in a quantitative field (Finance, Economics, Statistics, Mathematics, Engineering, or related discipline).

1–3 years of experience in financial accounting, internal audit, compliance, or a related function.

Familiarity with banking models and regulatory guidelines such as SR 11-7.

Proficiency in Excel and at least one programming language, preferred, but not required (e.g., Python, R, SAS, or MATLAB).

Nice to Have:

Exposure to stress testing, CECL, or capital planning models.

Experience with governance tools or model inventory systems.

Knowledge of bank risk management frameworks and practices.

Skills

Strong analytical thinking and attention to detail.

Excellent command of the English language, both written and verbal, and the ability to effectively communicate with all levels within the organization.

General Mathematics and Accounting

Must be able to assess any given situation and bring it to a successful resolution.

Must be experienced in the effective use of one or more core banking application software.

Must have satisfactory computer and spreadsheet skills.

Physical Demands: The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform essential functions.

While performing the duties of this job, the employee is regularly required to sit for long periods; use hands to operate controls on the computer; reach with hands and arms for phone and computer work; to communicate on the phone while wearing a headset for extended periods. The employee must occasionally lift and/or move up to 10 pounds. Specific vision abilities required by this job include close vision, distance vision, color vision, peripheral vision, and the ability to adjust focus. This job description is subject to change at any time.

First Foundation is an equal opportunity employer, and all qualified applicants will receive consideration for employment without regard to race, color, religion, sex, national origin, protected veteran status, status as a qualified individual with a disability, sexual orientation, gender identity, or any other characteristic protected by law.

Full-time