Financial Risk Analyst

Job Description

Summary: The Financial Risk Analyst, under the direction of the SVP, Financial Risk and Data Analytics, manages all aspects of the day-to-day Model Risk Governance program, Sarbanes-Oxley (SOX) Compliance as well as other key projects related to Financial Risk.

Job Responsibilities:

Model Risk Governance

Evaluate model documentation and associated risks to develop review strategies.

Review and analyze model validation reports produced by third party consultants. Discuss results with the model owner and other stakeholders. Monitor any remediation action recommendations for implementation/resolution.

Perform model validation and identify any deficiencies. Communicate any findings to the respective model owners/stakeholders, recommend remediation actions and monitor their implementation.

Research relevant regulatory frameworks, underlying products, assumptions, and methodologies

Develop model review reports and presentations to Credit and Financial Risk Committee and the Board of Directors.

Sarbanes-Oxley (SOX) Testing

Perform testing of the Bank’s internal controls to determine effectiveness, identify any deficiencies and make recommendations for process improvements or operational efficiency enhancements to strengthen them.

Identify key controls and develop work programs for testing of these key controls.

Collaborate with process owners/managers to ensure proper documentation of all significant processes and current procedures. Report testing results to the process owners/managers.

Review and monitor remediation procedures and exposure analyses for any control deficiencies.

Analyze and summarize testing results for inclusion in status reports and presentations to Credit and Financial Risk Committee and the Board of Directors.

Develop and prepare monthly management and quarterly Board level reports.

Perform the annual risk assessment and scoping exercises.

Insurance

Support the annual bank insurance renewal process by assisting in the information gathering process.

Perform claim processing and associated support gathering.

Update spreadsheets and executive reporting accordingly.

Support the vendor management due diligence process

Risk assesses new vendor requests and provides a written risk assessment that outlines any discrepancies, deficiencies and/or risks noted for review by the SVP, Financial Risk and Data Analytics.

Reviews due diligence package documents submitted by the third party and provides a conclusion of the information

Disseminates vendor due diligence reviews and risk assessment to the necessary parties.

Reviews existing vendor questionnaires in accordance with the tier-based monitoring schedule and completes all on going monitoring tasks.

Ensures that new vendor questionnaires are completed by the Line of Business and reviews the data to ensure the risk is measured appropriately.

Administrative

Performs other job related duties as may be assigned

Professional Development

Remains up to date on the latest developments with respect to regulatory compliance, industry best practices and standards.

Job Requirements:

Bachelor's degree required, concentration in finance, economics, or statistics preferred.

At least 2 years' experience in the financial services industry.

Analytical skills with attention to detail.

Excellent written and verbal communication skills.

Project management skills, including organization and time management.

Expertise in Microsoft Office Suite including Excel, Word, and PowerPoint.

Ability to effectively collaborate cross-functionally.

Columbia Bank and its affiliates is an Equal Opportunity Employer

Affirmative Action Employer/Males/Females/Protected Veterans/Individuals with Disabilities

Full-time