[Remote] Sr. Model Risk Analyst, IR & FX Derivatives

Note: The job is a remote job and is open to candidates in USA. First Citizens Bank is seeking a Sr. Model Risk Analyst for their Derivatives Team, which focuses on derivatives valuation and market risk models. The role involves implementing model risk management policies, conducting risk analysis, and developing effective partnerships with various stakeholders. Responsibilities • Conducts risk analysis to validate the performance of existing models and leads gap closing projects to include recommended model changes • Reports regularly to the Model Risk Manager on the compliance of the model risk management program, including policies and procedures, with respect to its progress, working issues, and challenges • Develops and maintains effective partnerships with the model analysts, model owners, business level risk management teams and auditors, internal and external • Provides recommendations for the design, development, back testing, implementation and recalibration of models owned by the model development team • Assists in the review and validation of model performance and controls, including establishing the model validation scope, assessment of validation results and directing communication with stakeholders • Assists in the development and maintenance of the model inventory ensuring the inventory is complete, accurate, and consistent with the intent of the Model Validation Policy Skills • Bachelor's Degree and 6 years of experience in OR High School Diploma or GED and 10 years of experience in model risk management • Master's (MSc) or doctoral (PhD) degree in mathematics, physics, or engineering • Required quantitative skills include probability theory and stochastic processes, stochastic differential equations (SDE), partial differential equations (PDE), numerical analysis, and optimization theory • Strong grasp of the conceptual foundations of derivatives modeling (swaps and options, IR and FX) and counterparty credit risk modeling (PFE and CVA) • Significant hands-on coding experience (C++, Python, Java) with an emphasis on financial modeling and numerical optimization • Familiarity with QuantLib and Open-Source Risk Engine (ORE) is a plus • Experience with vendor systems such as Murex, Chatham, Numerix, and Riskmetrics is a plus • The ideal candidate will have solid communication skills, with a penchant for technical exposition and documentation Benefits • Benefits are an integral part of total rewards and First Citizens Bank is committed to providing a competitive, thoughtfully designed and quality benefits program to meet the needs of our associates. Company Overview • First Citizens Bank provides banking services, essential business and professional services, wealth management capabilities, and more. It was founded in 1898, and is headquartered in Raleigh, North Carolina, USA, with a workforce of 10001+ employees. Its website is Company H1B Sponsorship • First Citizens Bank has a track record of offering H1B sponsorships, with 126 in 2025, 115 in 2024, 249 in 2023, 53 in 2022, 12 in 2021, 9 in 2020. Please note that this does not guarantee sponsorship for this specific role. Apply tot his job

Back to blog

Common Interview Questions And Answers

1. HOW DO YOU PLAN YOUR DAY?

This is what this question poses: When do you focus and start working seriously? What are the hours you work optimally? Are you a night owl? A morning bird? Remote teams can be made up of people working on different shifts and around the world, so you won't necessarily be stuck in the 9-5 schedule if it's not for you...

2. HOW DO YOU USE THE DIFFERENT COMMUNICATION TOOLS IN DIFFERENT SITUATIONS?

When you're working on a remote team, there's no way to chat in the hallway between meetings or catch up on the latest project during an office carpool. Therefore, virtual communication will be absolutely essential to get your work done...

3. WHAT IS "WORKING REMOTE" REALLY FOR YOU?

Many people want to work remotely because of the flexibility it allows. You can work anywhere and at any time of the day...

4. WHAT DO YOU NEED IN YOUR PHYSICAL WORKSPACE TO SUCCEED IN YOUR WORK?

With this question, companies are looking to see what equipment they may need to provide you with and to verify how aware you are of what remote working could mean for you physically and logistically...

5. HOW DO YOU PROCESS INFORMATION?

Several years ago, I was working in a team to plan a big event. My supervisor made us all work as a team before the big day. One of our activities has been to find out how each of us processes information...

6. HOW DO YOU MANAGE THE CALENDAR AND THE PROGRAM? WHICH APPLICATIONS / SYSTEM DO YOU USE?

Or you may receive even more specific questions, such as: What's on your calendar? Do you plan blocks of time to do certain types of work? Do you have an open calendar that everyone can see?...

7. HOW DO YOU ORGANIZE FILES, LINKS, AND TABS ON YOUR COMPUTER?

Just like your schedule, how you track files and other information is very important. After all, everything is digital!...

8. HOW TO PRIORITIZE WORK?

The day I watched Marie Forleo's film separating the important from the urgent, my life changed. Not all remote jobs start fast, but most of them are...

9. HOW DO YOU PREPARE FOR A MEETING AND PREPARE A MEETING? WHAT DO YOU SEE HAPPENING DURING THE MEETING?

Just as communication is essential when working remotely, so is organization. Because you won't have those opportunities in the elevator or a casual conversation in the lunchroom, you should take advantage of the little time you have in a video or phone conference...

10. HOW DO YOU USE TECHNOLOGY ON A DAILY BASIS, IN YOUR WORK AND FOR YOUR PLEASURE?

This is a great question because it shows your comfort level with technology, which is very important for a remote worker because you will be working with technology over time...