Data Scientist II

Radian • New York, NY

40d • $97,000 - $137,000

About The Position

The Data Scientist II, MIRS primary function is estimating, validating, monitoring, and implementing consumer credit models focused on mortgage default and prepayment. This requires the use of statistical and econometric methods within a structural modeling framework while leveraging cloud computing solutions. Models will be applied to estimate mortgage insurance cash flows including claim incidence, claim severity, required capital, expected premium, return on equity, existing mortgage insurance policy attrition, and new insurance policy acquisition. The position requires the Credit Modeler II to research, develop and make recommended changes to existing models and new models. Cash flow valuation of primary mortgage insurance policies, structured mortgage insurance policies, mortgage-backed derivatives, reinsurance, and other risk-transfer transactions are also within the position’s scope of analysis. Additional responsibilities may include supporting economic scenario simulation, economic capital, and portfolio optimization. Responsibilities include leveraging machine learning, AI and econometrics in hybrid model design using Big Data and unstructured data to cultivate and leverage business insights. The position requires the ability to effectively communicate technical findings and recommendations to nontechnical managements teams. The Data Scientist II primary function is estimating, validating, monitoring, and implementing consumer credit models focused on mortgage default and prepayment. This requires the use of statistical and econometric methods within a structural modeling framework while leveraging cloud computing solutions. Models will be applied to estimate mortgage insurance cash flows including claim incidence, claim severity, required capital, expected premium, return on equity, existing mortgage insurance policy attrition, and new insurance policy acquisition. The position requires the DS II to research, develop and make recommended changes to existing models and new models. Cash flow valuation of primary mortgage insurance policies, structured mortgage insurance policies, mortgage-backed derivatives, reinsurance, and other risk-transfer transactions are also within the position’s scope of analysis. Additional responsibilities may include supporting economic scenario simulation, economic capital, and portfolio optimization. Responsibilities include leveraging machine learning, AI and econometrics in hybrid model design using Big Data and unstructured data to cultivate and leverage business insights. The position requires the ability to effectively communicate technical findings and recommendations to nontechnical managements teams.

Requirements

• Strong understanding of probability modeling.
• Strong analytical background, along with the ability and willingness to effectively make recommendations on transactions based on sound business judgment.
• Knowledge in SAS, R, C++ or python for data analysis and modeling.
• Expert mathematical, statistical, and econometric knowledge.
• Strong understanding of financial analysis of structured mortgage products.
• Experience leveraging cloud computing.
• Able to work in a team environment.
• Able to effectively summarize and communicate relevant findings and other information.
• Bachelor’s degree or foreign equivalent and 3 years of experience
• 3 or more years of prior work related experience

Nice To Haves

• Experience leveraging AWS based applications and resources (EC2, EMR, S3, Lambda, Jupyter Notebook, Zeppelin, Spark) is desirable.
• Master’s degree or foreign equivalent and 1 years of experience.

Responsibilities

• Delinquency, default, prepayment, claim severity model estimation and design.
• Programming in support of model estimation, implementation, monitoring, and back testing
• Creation of analytical presentations and communication of strategic business findings to management
• Analysis and recommendations on alternative credit structures, risk sharing arrangements, and/or non-traditional manners in which to participate and take on credit risk as appropriate and necessary.
• Data manipulation of large files (R, Python, or SAS datasets) to identify trends and make recommendations and/or adjustments to credit/portfolio guidelines as necessary.
• Model development and methodology research
• Perform other duties as assigned or apparent.

Benefits

• Competitive Compensation: anticipated base salary from $97,000 to $137,000 based on skills and experience. This position is eligible to participate in an annual incentive program.
• Rest and Relaxation. This role is eligible for 25 days of paid time off annually, which is prorated in the year of hire based on hire date. In addition, based on your hire date, you will be eligible for 9 paid holidays + 2 floating holidays. Parental leave is also offered as an opportunity for all new parents to embrace this exciting change in their lives.
• Our Company Makes an Impact. We’ve been recognized by multiple organizations like Bloomberg’s Gender-Equality Index, HousingWire’s Tech 100, and The Forum of Executive Women’s Champion of Board Diversity. Radian has also pledged to PwC’s CEO Action for Diversity & Inclusion commitment.
• Comprehensive Health Benefits. Multiple medical plan choices, including HSA and FSA options, dental, vision, and basic life insurance.
• Prepare for your Future. 401(k) with a top of market company match (did we mention the company match is immediately vested?!) and an opportunity to participate in Radian’s Employee Stock Purchase Plan (ESPP).
• Homebuyer Perks. Our Homebuyer Perks program helps employees navigate the home searching, buying, selling, and refinancing processes and provides valuable financial benefits to encourage, enable, and support home ownership.
• Additional Benefits. To learn more about our benefits offerings, visit our Benefits Page.

What This Job Offers

• Job Type: Full-time
• Career Level: Mid Level
• Number of Employees: 1,001-5,000 employees