Stress Testing Risk Analyst III

Location:

Qualitative Risk Assessment (QRA) is responsible for overseeing and conducting independent risk assessments of non-models and tools. Key uses non-models and tools (referred to collectively as non-model qualitative processes) to support its business functions, including estimating and managing risk exposure and losses, identifying idiosyncratic risk exposures, calculating risk-based pricing, and analyzing various business strategies. As part of its use of these non-model qualitative processes, Key is exposed to Qualitative Risk. Qualitative Risk is the risk to KeyCorp’s earnings, capital, strategy, or reputation due to the misuse or failure of a qualitative process. As part of the Qualitative Risk Management Program, this risk is monitored and managed to ensure the ongoing accuracy, suitability, and reliability of Key’s qualitative processes. Non-model qualitative processes use considerable business expertise and judgment, and generally require technical skills to build, implement, and manage them.  Consequently, independent assessments are conducted to ensure that processes and methodologies used for non-models are meeting the requirements of the Non-Model Qualitative Process Standards.   
 

The Management Estimate Independent Review Team (MEIRT) is the second line of defense group that reviews all non-models and tools used in the annual capital planning process. More specifically, MEIRT performs the independent review and challenge of all non-models, tools, and idiosyncratic scenarios. The independent review and challenge conducted by MEIRT falls under the oversight of Qualitative Risk Assessment to ensure that MEIRT complies with the Non-Model Qualitative Process Review and Challenge Standards and Qualitative Risk Program.

The Risk Analyst III will conduct independent risk assessments to ensure that processes and methodologies used for non-models/tools meet the requirements of the Non-Model Qualitative Process Standards. Through a series of meetings, interviews, and research, the individual will apply the Non-Model Qualitative Process Review and Challenge Standards in the development of a formal, risk assessment report that contains a concise description of the assessment; and consists of a summary of the non-model use, scope, materiality, and supporting material to establish the approval conclusion. The individual will gather information from formal documentation on assumptions made, and methodologies/processes developed, to approve non-model qualitative processes and review results for reasonableness. The position will report to the MEIRT Leader and work closely with Financial Planning & Analysis (FP&A), Credit Risk, Market Risk, Model Risk, Capital Management, and Treasury teams.

Remote work will be considered for the right candidate.

ESSENTIAL JOB FUNCTIONS:

• Drive the development and completion of independent qualitative risk assessments of the assigned non-model qualitative processes to ascertain soundness of employed methodologies used to approximate, estimate control, or manage risk in accordance with the Non-Model Qualitative Process Review and Challenge Standards and Procedures.
• Interface on behalf of MEIRT with the Compliance, Credit, Enterprise Risk, Market Risk, Model Risk, Operational Risk, Capital Management, Treasury teams, and Financial Planning & Analysis in the administration of the Qualitative Risk Management Program, delivering presentations to these groups as needed.
• Partner with the Line of Business and other Risk teams to understand key business drivers in the assessment of the calibration of stress assumptions and risk drivers across risk types.
• Testing appropriateness of the controls designed for the data, methodology, and estimates applied to non-model qualitative processes.
• Able to identify gaps/limitations in non-model processes and methodologies.
• Able to monitor and confirm remediation/mitigation activities.
• Assist in the development and ongoing strategic enhancements of criteria used in the assessment of the materiality of a non-model qualitative process.
• Analyze and synthesize market risk and other quantitative risk results to quantify, demonstrate and understand of the impact of changes in the macroeconomic environment, exposure levels and methodology/modeling assumptions from stress testing.
• Provide analysis to regulators, senior management, and the Model Risk (Tier 1) and Qualitative Risk (Tier 2) Committees, as directed.
• Coordinate the development and documentation of departmental procedures as required.
   

REQUIRED QUALIFICATIONS:

• A bachelor’s degree or equivalent is required (preferably in a quantitative field such as Economics, Finance, or Mathematics).
• 7 – 10 years of banking or financial industry knowledge and experience is required. Advanced degrees or professional certifications, such as a CFA, CPA or FRM, will be considered in lieu of actual industry experience.
• Proficient in Microsoft Office (Word, Excel, PowerPoint).
• Ability to work under pressure and adhere to strict deadlines with an excellent attention to detail and ability to multi-task.
• Excellent written and verbal communication skills, especially in relation to policies and procedures, and effective facilitator of group discussions. Ability to document processes and effectively challenge business units for risk and control purposes.
• An inquisitive nature, strong communication and negotiation skill are required to effectively obtain business requirements and approvals from various stakeholders; detail orientation, good interpersonal skills, accuracy, focus and teamwork are required.

PREFERRED QUALIFICATIONS:

• Auditing or prior risk assessment experience along with commercial banking experience working with areas such as Financial Planning & Analysis, Comprehensive Capital Analysis and Review (CCAR), Corporate Treasury, Market Risk, or Model Risk is preferred.
• Master’s degree or other post-graduate/professional education is desired.
• Professional certifications, such as CFA, CPA or FRM, are desired.
• Prior capital planning/stress testing experience is desired but not required.
• Proven strong problem solving, analytical and technical skills to understand and identify business needs to communicate solutions.
• Demonstrated knowledge and experience in understanding a variety of quantitative methodologies, and modeling tools use in the estimation of risk is a plus.
• Knowledge of financial reporting systems and proficiency in database management platforms, Microsoft Office (Word, Excel, PowerPoint), Statistical Software (SAS, R, Python), and visualization tools such as Tableau. Working knowledge of GRC software is a plus.

• Demonstrated strong interpersonal skills, personal integrity and initiative.

COMPETENCIES/SKILLS:

• Demonstrated ability to set priorities, organize workflow and manage multiple tasks concurrently; strong ability to act resourcefully, conduct fact-finding research work and well under pressure and deadlines.
• Demonstrated excellent communications skills.
• The candidate must be highly proficient with MS OFFICE, (Word, Excel, Access, and PowerPoint). Exposure to other financial information management systems and/or platforms is a plus.

TRAINING REQUIRED:

• Completion of a formal risk management or financial accounting is a strong plus.

COMPENSATION AND BENEFITS

This position is eligible to earn a base salary in the range of $67,000 to $101,000 annually depending on job-related factors such as level of experience. Compensation for this role also includes eligibility for short-term incentive compensation and deferred incentive compensation subject to individual and company performance. Please click here for a list of benefits for which this position is eligible.

Please click here for a list of benefits for which this position is eligible.

Key has implemented a role-based Mobile by Design approach to our employee workspaces, dedicating space to those whose roles require specific workspaces, while providing flexible options for roles which are less dependent on assigned workspaces and can be performed effectively in a mobile environment. As a result, this role may be Mobile or Home-based, which means you may work primarily either at a home office or in a Key facility to perform your job duties.

KeyCorp is an Equal Opportunity and Affirmative Action Employer committed to building a diverse, equitable and inclusive culture. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, disability, veteran status or other protected category.

Qualified individuals with disabilities or disabled veterans who are unable or limited in their ability to apply on this site may request reasonable accommodations by emailing HR_Compliance@keybank.com.

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