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Model Risk Quantitative Associate in Cleveland, OH at Key Bank- Corporate

Date Posted: 7/24/2020

Job Snapshot

  • Employee Type:
  • Location:
    127 Public Square
    Cleveland, OH
  • Date Posted:

Job Description

About the Job

Conduct independent periodic reviews/validations and assessments of KeyBank’s models in compliance with regulatory and KeyBank’s independent model validation/review policies and guidelines.

Essential Job Functions

  • Understand and assess appropriateness of models’ data structures, transformations, data controls, and implementation process.
  • Understand the conceptual framework and assumptions of models, quantitative methods, analytics, machine learning algorithms, and how those are used in the business decision-making process
  • Assess mathematical and technical considerations for assumptions, limitations, and performance used in models and quantitative methods.
  • Vet and verify implementation of models and quantitative methods to ensure intended use.
  • Assess adequacy of monitoring, maintenance, and documentation of models and quantitative methods.
  • Understand and assess control environment a model is operated under. When needed, test and opine on appropriateness and effectiveness of the controls associated with models.
  • Identify and escalate risks and issues identified, and effectively document the testing and conclusions.
  • Follow model risk management policies, programs and procedures and assess emerging risks associated with models.
  • Build and sustain positive working relationships with model stakeholders (model owners, business line users, model developers, and management) to communicate risks and issues identified. Demonstrate in area of expertise.
  • Effectively explain model insights to peers/management within Model Risk and/or any quantitative/analytic community.
  • Understand upstream & downstream impacts of models, business strategy related to models, and the business of banking at a high level.
  • Carry out risk-mindset in each review/validation project and be able to balance risk vs reward.

Required Qualifications

  • Bachelor’s degree or Master’s degree in Mathematics, Economics, data sciences , Statistics, financial engineering, Finance or other quantitative field.
  • 3+ years of industry experience (2+ years with Master’s or PHD) in model development or validation in credit risk, quantitative models and methods, or other comparable experience.
  • Strong written and verbal communication skills
  • Working experience of SQL
  • Prior knowledge of one of the following scientific computing / statistical programming languages (such as Python, R, SAS)
  • Ability to work both independently and collaboratively with team members and internal stakeholders

Preferred Qualifications

  • Prior experience in Python or R programming languages
  • Prior experience of implementing machine learning models and methods, and designing tools to understand their risks and limitations
  • Leadership skills – ability to mentor junior team members


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


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