Commercial Risk Model Development Associate

Banco Santander•Boston, CT

About The Position

The Quantitative Risk Modeling team develops, implements, monitors, and governs quantitative credit risk models for Santander's commercial lending portfolios. The team works with Risk, Credit, Business Line, Data, Technology, and Model Risk Management stakeholders to enhance risk assessment, portfolio management, and regulatory compliance. The Associate, Risk Modeling supports the development, implementation, monitoring, and enhancement of quantitative risk models used for credit risk assessment, portfolio management, allowance methodologies, and strategic decision-making. The role involves data analysis, data engineering, statistical modeling, model performance evaluation, and collaboration with business and technology stakeholders. It also supports model documentation, testing, implementation, governance, and the development of risk analytics capabilities using emerging technologies, automation, and advanced data techniques.

Requirements

Bachelor’s degree in a related field, or equivalent demonstrated through a combination of work experience, training, military service, or education.
At least 5 years of experience in risk management, risk modeling, or AML.
Experience programming in Python, SQL, or similar analytical tools.
Experience developing, implementing, monitoring, or validating quantitative risk models in a regulated financial institution.
Experience working with large-scale financial, credit, and portfolio datasets, including data quality and data lineage challenges.
Advanced quantitative skills and demonstrated practical modeling experience.
Knowledge of statistical modeling, predictive analytics, model performance monitoring, and model governance practices.
Ability to analyze large and complex datasets and identify data quality issues, anomalies, and trends.
Understanding of commercial lending, credit risk measurement, and risk rating frameworks.
Ability to multitask, meet strict deadlines, and adjust to new developments or changing circumstances.
Ability to build and foster internal relationships.
Strong written and verbal communication skills.
Must be legally authorized to work in the United States full-time without requiring employer sponsorship to commence employment.

Nice To Haves

Master’s degree in a related field, or equivalent demonstrated through a combination of work experience, training, military service, or education.
Experience in commercial credit risk, risk rating models, probability of default (PD) modeling, loan risk assessment, or related credit risk disciplines.
Experience with data platforms and analytical environments, including Snowflake or similar cloud-based solutions.
Experience supporting model documentation, governance, validation, testing, or regulatory examination activities.
Established work history or equivalent demonstrated through a combination of work experience, training, military service, or education.

Responsibilities

Develop, enhance, implement, and monitor quantitative risk models and analytical frameworks.
Perform data analysis, data engineering, and statistical modeling to support risk measurement and credit decisioning.
Evaluate model performance and stability through ongoing monitoring, back-testing, sensitivity analysis, and benchmarking.
Identify opportunities to improve model methodologies, predictive performance, and operational efficiency.
Partner with business, credit, risk, and technology stakeholders to translate business requirements into scalable analytical solutions.
Support model documentation, testing, implementation, and governance processes throughout the model lifecycle.
Contribute to innovative risk analytics capabilities using emerging technologies, automation, and advanced data techniques.