Expert Advisor - Financial Computer Systems Analyst
- Competitive Hourly rate
- New York, NY, USA
- Permanent, Full time
- Oakwood Search
- 27 Sep 17 2017-09-27
Green Oak Group LLC (dba Oakwood Search) provides consulting services to large banks in the industry and management consulting firms providing them quantitative modeling, technology and analytical expert advisers. Clients offer complete lines of banking products. Working location is on the client site as a consultant doing IT and risk audits. Advisers work as an extension of our client’s workforce, working across number of different domains that mostly cover technology, data and risk audits Green Oak Group dba Oakwood Search is located in Colorado but this contact position will work solely at client sites in NY, NY.
This role is part of Green Oak Group’s Technology and Data Internal Audit-teams which serve as a critical business area primarily pertaining to regulatory oversight, more specifically stress testing as issued by the Federal Reserve Bank. Stress testing is part of banking regulations issued and governed by the Federal Reserve Bank (FRB) as well as the Office of Currency Comptroller (OCC). The purpose of stress testing exams is to assess whether banks can withstand a financial crisis by holding adequate capital reserves and practicing good risk oversight.
Reporting to the company’s Managing Partner, this role will have the following responsibilities:
- Analyze and audit computer systems of banks that participate in stress testing exercises.
- Audit the software development life cycle, ensuring that business requirements have been correctly translated to a working application. The exercise involves review and analysis of business requirements, and also includes performing User Acceptance tests to ensure software development phases were carried out successfully and that the output generated is accurate. Business Requirements mean the functionalities that the users demand in the software project. User Acceptance tests confirm successful delivery of the technical requirements of the software.
- Audit and validate remediation plans issued by bank’s management to address self-identified issues associated with credit risk management and technology projects roll out as well as regulatory feedback from Federal Reserve Bank and the Office of Currency Comptroller.
- Assess technology projects and plans in the financial industry for compliance with regulatory guidelines.
- Gather, organize and assess data from multiple sources to identify gaps between risk and finance data as well as any month over month or quarter over quarter finance and risk reporting cycle issues using SAS, Excel VBA, SQL Queries, Tableau, QlikView and MS Excel.
- Determine whether deliverables necessary for credit risk management have been provided. Deliverables for credit risk management are mainly data sources necessary for complete and accurate regulatory reporting. Deliverables also include data feeds necessary to enhance credit model predictive accuracy and address any deficiencies.
- Reconcile outputs from the Probability of Default (PD), Loss Given Default (LGD) and Loss Estimation models to identify potential issues.
- Perform data tracing exercises by sampling data submitted to the regulator (Federal Reserve Bank or the Office of Currency Comptroller) and tracing it all the way to its original source; author detailed reports on data findings; facilitate workshops to coordinate reconciliation procedures.
- Verify if loss estimation methodologies throughout the stress testing process were performed properly.
- Collaborate with developers to perform back-end testing and recommend operational efficiency enhancements.
- Create reports summarizing the high-risk items identified with credit risk management process.
- Must have a Bachelor of Science degree or foreign equivalent in Information Systems or a related field.
- Must have at least 1 year of experience working on technology projects associated with banks’ stress testing and risk management, which includes 1 year of experience in each the following areas:
- Detecting credit models’ issues and recommending remediation to management. For that purpose, specific experience is required in reconciling credit model outputs that are used to derive loss calculations such as Loss Given Default (LGD) and Probability of Default (PD).
- Eliciting business requirements for software projects using interviews, business process descriptions, business analysis as well as workflow analysis.
- Coordinating and performing user acceptance testing (UAT).
- Documenting operating procedures and detailed processes to be examined by external regulators or auditors.
- Preparing internal audit documentation used to address findings in banks.
- Analyzing the data drivers of banks’ loss estimates such as Net Charge Offs (NCO) and Allowance for Loan and Lease Loss (ALLL) by determining their correlation with Macro Economic Variables (such as Unemployment and GDP).
- Using Tableau and QlikView Business intelligence tools to create management reports.
- Gathering and assessing data from multiple sources to perform gap analysis on different sources (such as risk model outputs). Specifically utilizing SAS and SQL queries to handle large sets of data in structured and unstructured formats.
- Making use of Excel VBA code to run calculations or analysis on data.
- Working on regulatory risk management projects with a focus on banks’ stress testing including working with both Comprehensive Capital Analysis and Review (CCAR) capital planning regulations and Dodd-Frank compliance programs.
- Analyzing accounting data under both International Financial Reporting Standards (IFRS) and United States Generally Accepted Accounting Principles (US GAAP).
- Recommending future enhancements based on the intricacies or complex issues of the credit portfolio of a bank.
This position requires travel to various unanticipated client sites in the New York City area. The only travel required is when changing client sites for long-term assignments in the New York City area.
To apply, send cover letter and CV to firstname.lastname@example.org.