Manager, Quantitative Risk Management Officer – Model Validation
Posted on: 25 Apr 2021
Jacksonville, FL
Job Description
COMPANY OVERVIEW:
TIAA is the leading provider of financial services in the academic, research, medical, cultural and government fields. We offer a wide range of financial solutions, including investing, banking, advice and education, and retirement services.
KEY RESPONSIBILITIES AND DUTIES:
Quantitative Risk Management Officer
This position will perform independent reviews and validations of models covering a wide range of financial instruments with primary focus on models used in the Banking Division.
Key Responsibilities and Duties
The Model Risk Management (MRM) team within the TIAA’s Enterprise Risk Control is responsible for the assessment,management, measurement, and reporting of model risk.
This includes model validation and governance activities: initial model validation and model performance review; risk rating of models; front-to-back model governance and control.
The objective is to ensure that models are fit for the intended purpose in the business context and that model users are aware of the models' strengths and limitations impacting their decisions
Qualifications
5 Years Required; 7 Years Preferred
University (Degree), Preferred
Physical Requirements
Physical Requirements: Sedentary Work
Career Level
8IC
REQUIRED
5 years or more working experience in quantitative financial modeling or model validation covering one or several of the following areas: stochastic processes; actuarial/ALM; derivatives; structured products; credit and market risk; fixed income; and asset allocation.
PREFERRED
MS in a quantitative discipline in quantitative finance or hard science such as mathematics, physics, chemistry or engineering.
PhD in a quantitative discipline in quantitative finance or hard science such as mathematics, physics, chemistry or engineering.
TIAA
New York, New York
Teachers Insurance and Annuity Association of America offers individual and group accumulating annuity contracts with contributions made on a pre-tax or after-tax basis. It also provides individual lifetime and term-certain variable payout annuity contracts, including payment of death benefits to beneficiaries. In addition, the company offers real estate account under the various annuity contracts, such as retirement and group retirement annuities, supplemental retirement annuities, group supplemental retirement annuities, retirement choice and retirement choice plus annuities, Keoghs, after-tax retirement annuities, and real estate account accumulation contract, as well as traditional and individual retirement annuities, including simplified employee pension plans.
The real estate account is designed as an option for retirement and tax-deferred savings plans for employees of non-profit and governmental institutions. The company was founded in 1918 and is based in New York, New York. Teachers Insurance and Annuity Association of America operates as a subsidiary of Tiaa Board Of Overseers.
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IndustryInsurance
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No. of Employees17,500
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Jobs Posted18
