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Avp-model Risk (ia) Job In New York County, New York

United States, New York, New York County
Published 2023-09-07
Expires 2023-07-30
ID #1834355521
Avp-model Risk (ia) Job In New York County, New York
United States, New York, New York County,
Published September 7, 2023


About the Team

The Internal Audit Department Americas (IADA) provides internal audit services to the branches, representative offices and agencies of Mizuho Bank, Ltd. in the Americas, and to Mizuho Bank (USA) and related subsidiaries. IADA s mission is to act as an independent, objective assurance and consulting function, designed to add value and improve Mizuho Bank s U.S. operations including derivative activities, broker dealer and swap dealer businesses. Based in the New York Metro area, IADA staff members perform various audits of different business areas of the bank to evaluate the effectiveness of risk management and governance processes. Along with its counterparts in London, Hong Kong and Singapore, IADA reports to and composes the overseas arm of MHBK s Internal Audit Division (IAD).


The Risk Management Audit Team is looking for a AVP level candidate to perform third line reviews of model and model documentation to evaluate the robustness of the documentation and the level of independent validation by the first and second line related functions.


The primary responsibilities of the AVP- Model Validation include:

Provide independent third line review of a variety of pricing, risk, margin and other models as applicable.

Evaluate the model documentation based on various aspects including model data and parameters, design and methodology, implementation and model documentation.

Ensure compliance with the Mizuho Americas Model Risk Management Policy and applicable regulatory guidelines such as SR 11-7

Document third line work in compliance with the Internal Audit Manual.

Evaluate the first and second line documentation and either perform or ascertain that the necessary challenge and evaluations were adequately completed and properly documented.

Assess model assumptions and limitations.

Communicate results and discuss issues, challenges and methodologies with internal audiences including senior management.

Technical Skills (Essential)

Advanced degree in a quantitative discipline (preferably Engineering, Quant Finance or Physics).

Knowledge of derivatives pricing theory across one or more asset classes (IR/FX/Credit/Equity), traded products and market/credit risks.

3-5 years of work experience performing one of the following- model validation, model development, risk management or related fields.

Strong oral communication and technical writing skill.

Technical Skills (Desirable)

Understanding of statistical analysis,

Understanding of SR 11-7 guidance on model risk management,

Familiarity with vendor pricing platforms such as MUREX, Polypath, Bloomberg etc. Good Programming and database skills

The expected base salary ranges from $80,250.00 - $(phone number removed). Salary offers are based on a wide range of factors including relevant skills, training, experience, education, and, where applicable, certifications and licenses obtained. Market and organizational factors are also considered. In addition to salary and a generous employee benefits package, successful candidates are eligible to receive a discretionary bonus.

Other requirements

Mizuho has in place a remote working program, with varying opportunities for remote work depending on the nature of the role, needs of your department, as well as local laws and regulatory obligations.

Company Overview

Mizuho Americas is a leading financial institution comprising several legal entities, which together offer clients corporate and investment banking, financing, securities, treasury services, asset management, research and more. Mizuho s operations in the Americas connect a broad client base of major corporations, financial institutions and public sector groups to local markets and a vast global network. Mizuho Americas is an integral part of the Japan-based Mizuho Financial Group, Inc. (NYSE: MFG), which is comprised of offices in nearly 40 countries, approximately 60,000 employees, and assets of more than USD 1.8 trillion. Learn more at (url removed).

Mizuho Americas offers a competitive total rewards package.

We are an EEO/AA Employer - M/F/Disability/Veteran.

We participate in the E-Verify program.

We maintain a drug-free workplace and perform pre-employment substance abuse testing.


All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender, identity, national origin, disability, or protected veteran status.

Job details:

Job type: Full time
Contract type: Permanent
Salary type: Per annum
Occupation: Avp-model risk (ia)
Work from home:

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