MUFG Union Bank Economic Stress Test Manager- Vice President- Hybrid- CA, NC, AZ, NY/NJ, TX in New York, New York
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Discover your opportunity with Mitsubishi UFJ Financial Group (MUFG), the 5th largest financial group in the world. Across the globe, we’re 180,000 colleagues, striving to make a difference for every client, organization, and community we serve. We stand for our values, building long-term relationships, serving society, and fostering shared and sustainable growth for a better world.
With a vision to be the world’s most trusted financial group, it’s part of our culture to put people first, listen to new and diverse ideas and collaborate toward greater innovation, speed and agility. This means investing in talent, technologies, and tools that empower you to own your career.
Join MUFG, where being inspired is expected and making a meaningful impact is rewarded.
This is a hybrid position. The selected colleague will work at an MUFG office an average of two to three days per week with the remainder worked remotely.
Reporting to the Risk and Capital Manager, the Economic Stress Testing Manager is responsible for developing macroeconomic, PPNR and capital models to comply with applicable Federal and OCC regulations (i.e. Comprehensive Capital Analysis and Review (CCAR)), and new accounting rules (i.e. CECL).
• Develops and manages macroeconomic, PPNR, and capital models and communicates with internal/external auditors and internal risk and business partners
• Runs global large-scale macroeconomic vendor models (i.e. Moody’s Analytics, Markit Macroeconomic Advisors, Oxford Economics etc.)
• Runs PPNR and capital models on QRM
• Have deep understanding of stress testing methodology and financial modelling, especially around aspects of revenue projections
• Collaborates with model validation, data, audit, etc teams
• Updates Internal Procedures and Guidelines documents to make sure the group’s stress testing processes are up to date
• Maintains the process flows updated and saves operational/governance controls
MSc, MA, PhD program in economics, statistics, or any quantitative fields (with emphasis on Macroeconomics and Applied Econometrics is preferred)
• 5+ years of relevant business/academic experience in Quantitative modeling, model implementation, model validation, or model audit experience
• Knowledge of model forecasting and statistical modeling approaches such as linear regression model, time series, and error-correction models (OLS, VAR, Cointegration, etc.)
• Ability to program in statistical/mathematical programs such as SAS, R, Python, RATS, STATA etc.
• Result oriented, team player, can deliver on time under pressure, attention to detail, well organized, and able to complete tasks independently to high quality standards
• Ability to prepare and present reports and presentations to all levels of stakeholders
• Macroeconomic/PPNR modeling or handling economic data is highly preferable, ideally 3+ years of working experience in model validation or model development, preferably in a bank or a management consulting firm
• Familiarity with SR 11-7 regulatory guidance for model risk management, CCAR stress testing and regulatory capital
• Experience in running global large-scale macroeconomic vendor models (i.e. Moody’s Analytics, Markit Macroeconomic Advisors, Oxford Economics etc.)
• Experience with QRM modeling and production
The typical base pay range for this role is between $137,000–$166,000 depending on job-related knowledge, skills, experience and location. Additionally, our Total Rewards program provides colleagues with a competitive benefits package (in accordance with the eligibility requirements and respective terms of each) that includes comprehensive health and wellness benefits, retirement plans, educational assistance and training programs, income replacement for qualified employees with disabilities, paid maternity and parental bonding leave, and paid vacation, sick days, and holidays.
The above statements are intended to describe the general nature and level of work being performed. They are not intended to be construed as an exhaustive list of all responsibilities duties and skills required of personnel so classified.
We are proud to be an Equal Opportunity/Affirmative Action Employer and committed to leveraging the diverse backgrounds, perspectives and experience of our workforce to create opportunities for our colleagues and our business. We do not discriminate on the basis of race, color, national origin, religion, gender expression, gender identity, sex, age, ancestry, marital status, protected veteran and military status, disability, medical condition, sexual orientation, genetic information, or any other status of an individual or that individual’s associates or relatives that is protected under applicable federal, state, or local law.
A conviction is not an absolute bar to employment. Factors such as the age of the offense, evidence of rehabilitation, seriousness of violation, and job relatedness are considered in all employment decisions. Additionally, it's the bank's policy to only inquire into a candidate's criminal history after an offer has been made. Federal law prohibits banks from employing individuals who have been convicted of, or received a pretrial diversion for, certain offenses.
At MUFG, our colleagues are our greatest assets. Our Culture Principles provide a roadmap for how each of our colleagues must think and act to become more client-obsessed, inclusive and innovative. They reflect who we are, who we want to be and what we expect from one another. We are excited to see you take the next step in exploring a career with us and encourage you to spend more time reviewing them!
Our Culture Principles
Listen Up. Speak Up.
Innovate & Simplify
Own & Execute