Quantitative Modeler

Umpqua Bank • Portland, OR

84d • $88,944 - $165,182

About The Position

In this role, you will engage in development, execution, and implementation of statistical, mathematical, economic, and financial models for business decision making, risk assessment and strategic initiatives. Successful candidate will have the opportunity to learn different models and modeling techniques that are used at the bank including but not limited to: financial planning models, fraud detection models, customer analytics, credit risk management, anti-money laundering and asset liability management. This position will assist in completing model validation requirements for a variety of financial and non-financial models used across the bank. Working with stakeholders across the bank, you will provide advice on model selection, implementation, and usage.

Requirements

• Master's Degree in economics, mathematics, statistics, financial engineering, quantitative finance, or actuarial sciences required.
• 2-4 years in banking or financial services as a Data Scientist, Statistician, Quantitative Risk Analyst, Model Developer, Model Validator, or similar required.
• Knowledge of regulatory requirements related to model risk management (FRB/OCC SR 11-7), Basel II/III capital requirements, and Dodd-Frank Act Stress Testing (DFAST).
• Advanced understanding of statistical modeling, econometric forecasting, machine learning, data extraction and processing techniques; and demonstrated ability to apply such methods.
• Experience with analytics software (Python, PySpark, R, Matlab, Excel VBA, SQL), relational databases and/or cloud computing platforms like Azure or AWS.
• Possess communication skills, both oral and written, with ability to translate complex statistical or economic theories and analysis into practical implications for business teams and Senior Management.
• Demonstrate strong organizational skills, with the ability to manage multiple concurrent projects.
• Ability to proactively learn newly emerging statistical, econometric, and mathematical modeling techniques, and understand the implications of their use in a banking organization.
• Proven organizational skills are required to perform multiple tasks simultaneously to meet strict deadlines.
• Critical thinker with business intuition, intellectual curiosity, and ability to execute.

Nice To Haves

• Doctoral degree or equivalent experience preferred.
• Certification as Financial Risk Manager (FRM), Chartered Financial Analyst (CFA), or Certificate in Quantitative Finance (CQF) or progress toward the Certification preferred.

Responsibilities

• Design, estimate, implement, test, document and maintain statistical models for default and loss severity forecasting for retail and commercial loan portfolios.
• Utilize data mining and statistical techniques to develop analytic insights, sound hypotheses, and informed recommendations.
• Conduct ad hoc quantitative analyses, modeling, or programming using DataBricks, SQL, R, or Python.
• Partner with business units to identify their business needs and develop, implement, and manage modeling solutions in accordance with SR 11-7.
• Assist business units in assessing quality of model inputs/outputs through back testing against realized outcomes, benchmarking against alternative models and other relevant tests.
• Recommend short-term and long-term model monitoring solutions based on the nature and tier of the model.
• Research and develop quantitative tools and techniques to measure and analyze model risks and establish conclusions on strengths and limitations of the model.
• Assess conceptual foundations of a model, model specification, underlying assumptions, limitations, variable selection, underlying data, developmental evidence, documentation.
• Interview model developers/vendors and model owners to understand the business context for model use and facilitate the adoption of model risk management standards.
• Keep up to date with any banking regulations affecting model risk management practices across the bank.
• Advocate quantitative practices across the bank.
• Propose and execute model validation tests for new and existing models in the inventory.
• Assist manager in production of regular and ad-hoc reports on individual and Bank-level model findings for Senior Management and regulators.
• Coordinate with model validation team on any changes to the Bank's model inventory or End user Applications.

Benefits

• Comprehensive healthcare coverage (medical, dental, and vision plans)
• 401(k)-retirement savings plan with employer match for qualifying associate contributions
• Employee assistance program
• Life insurance
• Disability insurance
• Tuition assistance
• Mental health resources
• Identity theft protection
• Legal support
• Auto and home insurance
• Pet insurance
• Access to an online discount marketplace
• Paid vacation, sick days, volunteer days, and holidays

What This Job Offers

• Job Type: Full-time
• Industry: Credit Intermediation and Related Activities
• Education Level: Master's degree
• Number of Employees: 1,001-5,000 employees