Model Risk Intern

Title: Model Risk Intern

Date of Internship: Summer 2018

Location: Buffalo, NY

Status: Full-time Internship

To Apply: www.mtb.com/careers then search by:

THE OPPORTUNITY:

Responsible for review and validation of models used by various groups at M&T for varied purposes, including capital stress testing, risk measurement, pricing and profitability, and management decision-making. Under supervision of senior analyst, this position is responsible for the validation of the less complex models.

POSITION RESPONSIBILITIES:

Perform review and validation of models used throughout the organization for capital stress testing, risk measurement, pricing and profitability, and management decision making.

Perform model validation studies on risk analysis assessment in order to maintain maximum protection of the bank's assets. Investigate any incident that may result in asset loss and compile findings for Management review.

Facilitate sourcing of effective challenge and validation:

Advise/confirm scope of more in depth internal or external validation, where applicable;

Coordinate the engagement of third parties to perform validation; and Review the results of third party validation.

Perform validation and analysis of expert judgment or qualitative factors that augment quantitative models; review to confirm proper controls and adequate documentation are in place.

Recommend, as necessary, the cessation of reliance on models that are outdated or inaccurate, as determined by analysis.

Provide effective challenge during model development and throughout the life cycle of the model.

Prepare reporting for Management to monitor performance of models.

Participate in meetings with model owners to discuss current portfolio tracking and business observations.

Develop knowledge on standard concepts, practices, and procedures within the model validation/risk analytics field.

Mine data from a variety of sources; Utilize technical skills to manage data and efficiently conduct analyses.

Develop ad hoc processes to address efficiency gains that translate into repeatable procedures.

Prepare written summary and analysis of all validation work, using a combination of word processing and presentation software skills.

Complete other related duties as assigned.

NATURE AND SCOPE:

This position will interact with various lines of business and support areas, including Credit Risk, Finance, Treasury and Mortgage to manage model risk throughout the bank and support the capital planning process.

MINIMUM QUALIFICATIONS REQUIRED:

Master students in the last year of study on Statistics, Applied Mathematics, Quantitative Finance, Engineering, Econometrics or Science-based discipline.

Demonstrated technical knowledge of advanced software packages used in analytics. (e.g., SAS, STATA, R, Python)

IDEAL QUALIFICATIONS PREFERRED:

PhD students in late stage of his/her dissertation are preferred

Students from local universities are preferred

Ability and willingness to learn about a wide variety of topics and develop a variety of skills

Thorough knowledge of Microsoft Office suite

Able to work as a cohesive member of a team

Strong mathematical, analytical and communication (both written and oral) skills

Use of abstract thinking to deal with intangibles and uncertainties

Functional with database development, maintenance, and extraction of data for reporting

Demonstrated ability to meet deadlines

Thorough attention to detail and documentation

Given limited experience, relies on judgment to plan and accomplish goals