Credit Risk Quantitative Model Manager

Flagstar Bank

60d

About The Position

Support the Credit Risk Administration Team with hiring and managing a team of quantitative model analysts responsible for the development, testing, implementation, monitoring, documentation, and maintenance of all credit risk rating models. Assists with directing daily and long-range strategic direction of the group to support business initiatives and regulatory compliance across the full model risk management lifecycle. Team responsibilities include sourcing, cleaning, and transforming data; researching applicable methods; training and testing a variety of specifications; documenting all facets of the development process; implementation of models and related logic in production systems; assessing outputs across different levels of inputs (sensitivity analysis and scenario analysis); back-testing and ongoing performance monitoring; and, communicating aspects of the model and its application to non-technical stakeholders.

Requirements

• 7+ Years of model development and/or validation experience, particularly in credit risk.
• Experience with at least one of the following software packages: R, SAS, SQL, Python.
• Strong analytical and critical thinking skills with high attention to detail and accuracy.
• Excellent verbal, written, and interpersonal communication skills.
• Ability to clearly articulate, in writing or orally, ideas, analytic insights, and recommendations to both technical and non-technical audiences, including an executive audience.
• An ability to identify key problems, conduct in-depth research, and articulate well-reasoned solutions.

Nice To Haves

• Experience developing credit risk models and programing user interfaces.
• Experience with nCino implementation of risk rating models and financial spreading process.
• Working knowledge of Generally Accepted Accounting Principles (GAAP), Basel III, Dodd-Frank Act Stress Testing, CCAR, and bank accounting/regulatory reporting requirements.
• Knowledge and familiarity with key aspects of model risk management and model validation, including SR-11-7 guidance on model risk management.
• Ability to use advanced statistical and mathematical software to perform descriptive, predictive, and prescriptive analysis leveraging a variety of statistical techniques (such as segmentation, logistic regression, sensitivity analysis, and machine learning).
• Experience managing a team of quantitative model analysts.

Responsibilities

• Lead teams in development and application of mathematical or statistical theory and methods to collect, organize, interpret, and summarize numerical data sets from multiple sources to develop credit risk rating models or other credit risk-related initiatives.
• Lead team in implementation of models in code in a transparent and easily maintainable way within loan origination applications.
• Lead team in documentation of all modeling or analysis work that meets internal, GAAP, and regulatory requirements; translate model theory and related results for non-quantitative audiences.
• Develop and support strong controls for the model implementation framework and maintain related documentation.
• Support independent model validation process, internal and external audits, and regulatory reviews.
• Interact with model users, validators, and regulators to address model issues and remediation actions.
• Interact with key stakeholder groups such as Accounting, Treasury, Credit, Lines of Business, Model Risk Management, and Enterprise Technology in the design, development, and ongoing usage of models.
• Lead the team in establishing and executing a robust model performance monitoring process for credit risk rating models.
• Responsible for talent management functions including: employment, performance evaluations, staff development/training, disciplinary actions, succession planning and ensuring all staff comply with compliance requirements.
• Performs special projects, and additional duties and responsibilities as required.
• Consistently adheres to regulatory and compliance policies and standards linked to the job as listed and complete required compliance trainings.
• Accountable to maintain compliance with applicable federal, state and local laws and regulations.

Benefits

• Flagstar provides teammates access to a variety of benefits including medical, dental, vision, life, and disability insurance, as well as a comprehensive leave program.

What This Job Offers

• Job Type: Full-time
• Career Level: Manager
• Education Level: No Education Listed
• Number of Employees: 5,001-10,000 employees