Model Risk Analyst

At UMB, we believe strong risk management starts with people who ask thoughtful questions, gain understanding, and bring different perspectives to solve complex problems.

This team is responsible for Enterprise Model Risk Management - providing independent oversight and challenge of models the bank relies on to make significant decisions, promoting the MRM framework as the second line of defense, ultimately protecting the enterprise while enabling the business to use models confidently and responsibly.

As a Model Risk Analyst, you will play an important role in protecting UMB by independently evaluating the conceptual soundness, performance, implementation, and ongoing monitoring of models used across the organization. You will work with line-of-business partners, model developers, technology teams, and risk professionals to assess model risk, help identify potential weaknesses, and provide actionable recommendations that support informed business decisions.

Being a UMB associate is unlike working at any other company. You are not only valued for the work that you do, but who you are. You’ll be encouraged to bring your whole self to work, being valued for exactly who you are. You’ll also have the opportunity to serve your community alongside your team. At UMB, we do big business, but we don’t forget that the little things matter the most.   

How you’ll spend your time

• Model Validation: Perform independent model validations, including assessments of conceptual soundness, methodology, assumptions, data quality, implementation, outcomes analysis, and ongoing performance monitoring.
• Quantitative Analysis: Apply statistical, mathematical, and analytical techniques to evaluate model performance, identify limitations, challenge assumptions, and assess potential model weaknesses.
• Model Risk Assessment: Identify, document, and evaluate model risks, limitations, findings, and control weaknesses. Develop clear, risk-based recommendations for remediation and ongoing oversight.
• Model Monitoring throughout the model life cycle: Review ongoing model performance, monitoring metrics, back-testing, sensitivity analysis, and outcomes testing to identify changes in model performance or emerging risks.
• Business Partnership: Collaborate with model owners, developers, business stakeholders, and other risk management teams to understand model purpose, challenge methodologies, communicate findings, and support effective risk mitigation.
• Emerging Technology: Contribute to the assessment and oversight of artificial intelligence, machine learning, and other advanced analytical models, including their assumptions, explainability, data integrity, and associated risks.

We are excited to speak with you if:

• You have a Bachelor’s degree in Statistics/Applied Mathematics, Finance, Economics, or an equivalent combination of education and experience.
• You have 2+ years of experience in risk management processes, model development/ validation, consulting, banking, or other financial services industries

Bonus Points if you:

• You have experience using statistical tools such as Python, R, SAS, SQL, and other statistical/analytical tools, AI tools, and other software.
• Familiarity with some financial models and concepts, e.g., credit risk, fraud, interest rate risk, asset-liability management, liquidity, forecasting, or stress testing.
• Knowledge of applicable regulatory guidance, including those from Federal Reserve letters and OCC Bulletins, and their principles for model risk management.

Compensation Range:

The posted compensation range on this listing represents UMB’s good faith and reasonable estimate based on its budget and what it expects to be the starting pay for this role, but the actual compensation may vary by geographic location, experience level, and other job-related factors. Please see the description of benefits included with this job posting for additional information.

UMB offers competitive and varied benefits to eligible associates, such as Paid Time Off; a 401(k) matching program; annual incentive pay; paid holidays; a comprehensive company sponsored benefit plan including medical, dental, vision, and other insurance coverage; health savings, flexible spending, and dependent care accounts; adoption assistance; an employee assistance program; fitness reimbursement; tuition reimbursement; an associate wellbeing program; an associate emergency fund; and various associate banking benefits. Benefit offerings and eligibility requirements vary.

Are you ready to be part of something more?
You're more than a means to an end—a way to help us meet the bottom line. UMB isn't comprised of workers, but of people who care about their work, one another, and their community. Expect more than the status quo. At UMB, you can expect more heart. You'll be valued for exactly who you are and encouraged to support causes you care about. Expect more trust. We want you to do the right thing, no matter what. And, expect more opportunities. UMBers are known for having multiple careers here and having their voices heard.

UMB and its affiliates are committed to inclusion and diversity and provide employment opportunities to all employees and applicants for employment without regard to race, color, religion, sex (including gender, pregnancy, sexual orientation, and gender identity), national origin, age, disability, military service, veteran status, genetic information, or any other status protected by applicable federal, state, or local law. If you need accommodation for any part of the employment process because of a disability, please send an e-mail to talentacquisition@umb.com to let us know the nature of your request.

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