Sr. Associate, Risk Modeling - Full-time / Part-time

Job Family: Risk

Monitors activities to minimize the company’s exposure to risk. Activities may include quantitative analysis, risk identification and remediation. Represents or supports the reputation of the company to minimize compliance and regulatory risk by resolving issues and ensuring adherence to company and legal standards. Responsible for ensuring that all of the company’s activities adhere to the necessary rules and regulations, and that the company complies with legal/regulatory statutes and jurisdictions.

Job Function: Risk Management

Ensures adherence to the policies and procedures established by the company. Manages policy, standard definition and monitoring of policy, standard implementation, ensuring harmonization and consistency of risk policies. Monitors and manages risk/exposure and compliance with the company’s policies. Identifies, manages and reports on the company’s risk areas. Evaluates the adequacy and effectiveness of data, document retention, and monitors systems.

Summary of Responsibilities:

The Sr. Associate, Risk Modeling conducts robust validations of a wide variety of risk models against established standards, develops benchmarks, and challenges and replicates models where applicable. S/he manages models of advanced complexity and leads special projects and/or programs.

Essential Functions:

• Reviews and assesses overall model health within a given framework, identifies potential problems and works with stakeholders to resolve.
• Conducts robust validations of a wide variety of models against established standards, develops benchmarks, challenges and replicates models where applicable.
• Assesses model performance and evaluates model assumptions and weaknesses.
• Collaborates with model owners and develops to understand the business context for models.
• Supports senior model risk personnel in their communications with risk committees, auditors, regulators, and senior management regarding model risk and its potential effects on the risk profile to the organization.
• Improves researching new modeling methodologies and new approaches to the management of model risk.
• Prepares risk model reports, describing the results of the validation analyses and list the recommendations for addressing any issues identified.
• Assists in developing and providing training and support to management and employees regarding model development strategies and programs.
• Prepares model development related reporting for internal and external stakeholders.
• Provides effective communication to model, business and model risk owner groups.
• Improves the model development standards which have been aligned to the Model Risk Management Framework within the company.

Other Functions:

• Acts as a subject matter expert (SME) while providing leadership, guidance, and mentorship to other team members.
• Other duties as assigned.

Requirements:

• Education –
  • Bachelor’s Degree: Mathematics, Physics, Statistics or equivalent quantitative field.
  • or equivalent work experience
  • Master’s Degree: Mathematics, Physics, Statistics or equivalent quantitative field.
  • Ph.D.: Mathematics, Physics, Statistics or equivalent quantitative field.
• Experience –
  • 7+ years

• Skills & Abilities –

• Minimum 7+ years’ experience in an analytics in financial services, preferably indirect subprime auto financial services.  Prior experience developing credit scoring models preferred.
• Familiarity with logistic regression models, segmentation and variable reduction techniques, hypothesis testing, neural networks, design of experiments, ANOVA, decision trees, and linear regression.
• Prior experience working with credit bureau data strongly preferred. Prior experience using SAS, particularly SAS base, SAS/STAT, PROC SQL, and SAS Macro programming. Additional knowledge of R or Python is a plus.
• Demonstrated ability to use SQL and SAS to extract data from multiple data sources.
• Demonstrated ability to merge, concatenate, and prepare extremely large datasets for statistical analysis and mathematical model development.
• Demonstrated ability to create complex pivot tables in MS Excel. Ability to effectively explain advanced mathematical concepts, techniques, and analyses to a business audience.
• Ability to translate analysis into a clear business plan.
• Strong written and verbal communication skills. Ability to maintain confidentiality.

Competencies:

• Collaboration – Relationship Management:
  
  • Advanced – Leading and Guiding
    
    • Improves relationships between key individuals to achieve seamless cross-team work flow and positively impact results
    • Uses informal networks to gain support for ideas and projects

• Collaboration – Teamwork:
  
  • Advanced – Leading and Guiding
    
    • Brings out the best in each team member by consistently motivating and acknowledging peer contributions
    • Understands and leverages team dynamics

• Execution – Accountability:
  
  • Advanced – Leading and Guiding
    
    • Fully accountable for timeliness, completeness, quality of projects, processes, products and services
    • Remains calm and focused on goals while facing pressures, obstacles or short-term setbacks

• Influence – Information Sharing:
  
  • Advanced – Leading and Guiding
    
    • Ensures people receive the information they require, and brings the team together to share information

• Influence – Two-way communication:
  
  • Advanced – Leading and Guiding
    
    • Effectively conveys difficult or complex information in an easy to understand manner, by providing the big picture and illustrating important linkages
    • Asks open-ended questions that encourage others to give their points of view

• Risk Business Acumen – Industry Acumen:
  
  • Advanced – Leading and Guiding
    
    • Keeps up -to-date with external market events, pressures and regulations which may impact the organization and assesses whether similar issues exist in the organization
    • Can identify functional and organizational implications associated with major trends
    • Designs solutions to address industry activities that impact the organization

• Risk Management – Knowledge of Risk Management Policies, Regulations, Processes and Procedures:
  
  • Advanced – Leading and Guiding
    
    • Monitors adherence to policies, regulations, processes and procedures within function and actively undertakes corrective action where necessary
    • Understands end to end processes across the organization and how processes are integrated
    • Has a practical knowledge of regulations impacting area supported

• Risk Management – Risk and Compliance Adherence:
  
  • Advanced – Leading and Guiding
    
    • Ensures that all directs and colleagues have appropriate knowledge of risk and the regulatory environment
    • Investigates and identifies the root cause and corrects items deemed non-compliant, regardless of pressures from business or management

Working Conditions:

• Frequently: Minimal physical effort such as sitting, standing, and walking.
• Occasional moving and lifting of equipment and furniture is required to support onsite and offsite meeting setup and teardown.
• Physically capable of lifting up to fifty pounds, able to bend, kneel, climb ladders.

Employer’s Rights:

• This job description does not list all the duties of the job.  You may be asked by your supervisors or managers to perform other duties.  You will be evaluated in part based upon your performance of the tasks listed in this job description.
• The employer has the right to revise this job description at any time.  This job description is not a contract for employment, and either you or the employer may terminate employment at any time, for any reason.