Senior Credit Risk Modeling Associate

Banco Santander • Boston, CT

2d

About The Position

The Quantitative Risk Modeling team develops, implements, monitors, and governs quantitative credit risk models that support Santander’s commercial lending portfolios. It partners with Risk, Credit, Business Line, Data, Technology, and Model Risk Management stakeholders to improve risk assessment and portfolio management and meet regulatory expectations.

The Senior Associate, Risk Modeling researches and validates risk models against established standards, develops benchmarks, and challenges or replicates models where applicable. The role manages models of advanced complexity and leads special projects or programs. It reviews model health, identifies potential problems, assesses model performance and assumptions, and works with stakeholders to address weaknesses. The role also supports model risk communications with committees, auditors, regulators, and senior management; prepares validation and development reporting; and contributes to training and improvements to model development standards. It proactively seeks credit-model improvements that increase the share of new loan applications eligible for automated decisioning rather than manual underwriting.

Requirements

• Bachelor’s degree in a related field, or equivalent demonstrated through work experience, training, military service, or education.
• At least 9 years of experience in risk management and risk model development.
• Knowledge of the banking regulatory environment and its impact on risk management practices.
• Demonstrated expertise in SAS, Python, and R, applying programming and analytical methods to real-world problems.
• Strong quantitative skills and practical modeling experience, including demonstrated stress testing techniques.
• Extensive experience working with large and complex datasets.
• Ability to lead complex projects and awareness of associated credit and operational risk.
• Ability to interpret business requirements and translate them into analytical and modeling solutions.
• Strong analytical, problem-solving, and critical-thinking skills.
• Exceptional attention to detail and commitment to accurate, timely results.
• Ability to manage multiple priorities and deadlines in a fast-paced environment.
• Excellent written and verbal communication skills.
• Strong negotiation and presentation skills.
• Superior project management skills.
• Adherence to the Code of Conduct, assigned Risk Tolerance or Mandates, and applicable organizational policies and procedures.
• Applicants must be legally authorized to work in the United States on a full-time basis without requiring employer sponsorship to commence employment.

Nice To Haves

• Advanced degree (Master’s or PhD) in a related field, or equivalent demonstrated through work experience, training, military service, or education.
• Established work history or equivalent demonstrated through work experience, training, military service, or education.
• A successful track record in achieving outstanding levels of delivery, performance, challenge, and oversight.
• An informed perspective on the market environment, future trends, and emerging developments.

Responsibilities

• Research and validate a wide variety of risk models against established standards.
• Develop benchmarks and challenge or replicate models where applicable.
• Manage models of advanced complexity and lead special projects or programs.
• Review overall model health, identify potential problems, and work with stakeholders to resolve them.
• Assess model performance and evaluate model assumptions and weaknesses.
• Collaborate with model owners and developers to understand models’ business context.
• Support senior model risk personnel in communications with risk committees, auditors, regulators, and senior management regarding model risk and its potential effects on the organization’s risk profile.
• Research new modeling methodologies and approaches to model risk management.
• Prepare risk model reports describing validation analyses and recommendations for addressing identified issues.
• Assist in developing and providing training and support to management and employees on model development strategies and programs.
• Prepare model-development-related reporting for internal and external stakeholders.
• Communicate effectively with model, business, and model risk owner groups.
• Improve model development standards aligned with the company’s Model Risk Management Framework.
• Seek improvements to credit models that increase the percentage of new loan application volume eligible for automated decisioning rather than manual underwriting.

Benefits

• The company describes its rewards package as fair and competitive and says its benefits are designed to support employees, their families, and their well-being. Specific benefits are not listed in the posting.

What This Job Offers

• Job Type: Full-time
• Career Level: Senior