Enterprise Risk Management - Newark (NJ), NJ Specialist, Finance Model Risk
About the position
Finance Model Excellence (FMX) acts as an advisory group and expert in the CFO organization on all matters related to Model Risk Management. FMX develops guidance, tools and training to build a consistent and efficient leading practice in Finance model risk management. FMX introduces new technologies and best practices in optimizing finance model solutions.
FMX is seeking a motivated and experienced technical specialist to join this highly dynamic and technical team.
You will work closely with Finance business partners on finance model validation and optimization. You will be responsible for the following activities:
- Assist in financial model reviews and validations, potentially including:
- Executing a model testing plan and providing supporting evidence for reviewers
- Working with business SMEs for finance models on various platforms, to understand, document and/or validate model inputs, assumptions, methodologies, controls, etc.
- Assisting in the review of Model Documentation and Testing Results for reasonableness and compliance with Enterprise Model Risk Management policies
- Execute projects to enhance and optimize spreadsheet models, potentially including:
- Executing solutions for overall spreadsheet model enhancements such as formula improvements and process automation
- Investigating and summarizing spreadsheet issues related to model risk
- Tracking, following up and resolving issues in a timely manner
- Conduct training on technical subjects, such as model testing, enhancements and validation tools
- Assist in developing and updating FMX technical guidance and tools
- Undergraduate degree with 5+ years of experience in related fields such as Business Analysis, Finance Modeling, Risk Management, or consulting related to such functions within Insurance, Banking and/or Financial services
- Advanced Excel skills are required. VBA, Power Query will be a plus.
- Experience in preparing/reviewing technical or process documents such as model documentation, business requirements, or technical specifications.
- Hands-on experience required in testing, analyzing, debugging financial models (spreadsheets or applications). SDLC knowledge is a plus.
- Knowledge on spreadsheet best practice and model risk management will be a plus.
- Self-motivated, result driven and independent learner in a highly dynamic environment
- Good verbal and written communications skills
- Strong attention to detail, time management and organization skills
Prudential is a multinational financial services leader with operations in the United States, Asia, Europe, and Latin America. Leveraging its heritage of life insurance and asset management expertise, Prudential is focused on helping individual and institutional customers grow and protect their wealth. The company's well-known Rock symbol is an icon of strength, stability, expertise and innovation that has stood the test of time. Prudential's businesses offer a variety of products and services, including life insurance, annuities, retirement-related services, mutual funds, asset management, and real estate services.
We recognize that our strength and success are directly linked to the quality and skills of our diverse associates. We are proud to be a place where talented people who want to make a difference can grow as professionals, leaders, and as individuals. Visit www.prudential.com to learn more about our values, our history and our brand.
Prudential is an equal opportunity employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, genetics, disability, age, veteran status, or any other characteristic protected by law.
Note that this posting is intended for individual applicants. Search firms or agencies should email Staffing at firstname.lastname@example.org for more information about doing business with Prudential.