New

Quantitative Model Analyst - Morristown, NJ

Valley National Bank
$145,500.00 / yr
United States, New Jersey, Morristown
Aug 14, 2025
Back Quantitative Model Analyst #25-825 Morristown, New Jersey, United States Apply Apply for this job now! Apply Expected Work Hours 40 Job Description Quantitative Model Analyst sought by Valley National Bank d/b/a Valley Bank in Morristown, NJ. Job Description: Validate, test, and document all models used by the Bank, especially AI/ML models. Perform advanced independent quantitative and qualitative analyses of and challenges to the models, including data integrity, theory, design, assumptions, implementation, accuracy, and reliability. Conduct statistical analyses and AI/ML research. Specific duties include: conduct Model Validation in multiple departments, including BSA-AML, Fraud Risk, Marketing, Compliance, Cyber Security, Credit Risk, etc. Models include Machine Learning, Deep Learning, Generative AI, Rule based, etc.; perform model ongoing monitoring oversight for all models validated; collaborate with Asset-Liability Management (ALM) and Treasury teams to redesign the scorecard for interest rate risk, validate IRR scorecard and KRI in market risk quarterly, replicate metrics calculations: EVE, NII, Duration Gap, etc.; mentor and train Junior Quantitative Model Analysts on interest rate risk analysis, model validation, and interpretation; assist in maintaining and updating model/market risk policies and documents; stay updated on industry best practices, regulatory changes, and emerging trends in quantitative modeling, and risk management, attend conferences and present new technologies in the team meetings; conduct Model Validations on 2 accounting models: SBA Valuation & Visual Lease, replicate the cashflow calculating in R and verify the results; and attend team meetings to discuss the validation findings. Job may be performed remotely up to three days per week. Salary: $145,500.00/year. Standard benefits package. Apply online https://www.valley.com/about/careers or send resume to Megan Almond, First VP, HR Business Partner at malmond@valley.com and list position title in Subject. Requirements Required: Bachelor's degree (or foreign equivalent degree) in Economics, Data Science, Statistics, or a closely related quantitative field, plus 2 years of progressive, post-baccalaureate experience in the job offered or as a data scientist or similar role in financial risk-modeling. Experience must include working with: Sophisticated risk models and methodologies (R, Python, H2O); and Artificial Intelligence (AI) / Machine Learning (ML) techniques (Decision Trees, Random Forest, XGBoost). Full-time/Part-time Full-time FLSA Exempt Location(s). 70 Speedwell Ave, Morristown , New Jersey 07960 , United States Job Details Pay Range Pay Range The estimated pay range for this job. Disclosing pay information promotes competitive and equitable pay. The actual pay rate will depend on the person's qualifications and experience. $145,500.00 - $145,500.00 / year Pay Transparency In order to support the Fair Compensation Strategy by the US Govt., HR Dept., clients are required to adhere to "Pay Transparency Law"; in the impacted states; that have mandated the employers to list the salary ranges in Job advertisements or postings for job opportunities and Job promotions.