Job Description:
This job is responsible for conducting quantitative analytics and modeling projects for specific business units or risk types. Key responsibilities include developing new models, analytic processes, or systems approaches, creating technical documentation for related activities, and working with Technology staff in the design of systems to run models developed. Job expectations include having a broad knowledge of financial markets and products.

Responsibilities:

• Performs end-to-end market risk stress testing including scenario design, scenario implementation, results consolidation, internal and external reporting, and analyzes stress scenario results to better understand key drivers
• Supports the planning related to setting quantitative work priorities in line with the bank's overall strategy and prioritization
• Identifies continuous improvements through reviews of approval decisions on relevant model development or model validation tasks, critical feedback on technical documentation, and effective challenges on model development/validation
• Supports model development and model risk management in respective focus areas to support business requirements and the enterprise's risk appetite
• Supports the methodological, analytical, and technical guidance to effectively challenge and influence the strategic direction and tactical approaches of development/validation projects and identify areas of potential risk
• Works closely with model stakeholders and senior management with regard to communication of submission and validation outcomes
• Performs statistical analysis on large datasets and interprets results using both qualitative and quantitative approaches

Skills:

• Critical Thinking
• Quantitative Development
• Risk Analytics
• Risk Modeling
• Technical Documentation
• Adaptability
• Collaboration
• Problem Solving
• Risk Management
• Test Engineering
• Data Modeling
• Data and Trend Analysis
• Process Performance Measurement
• Research
• Written Communications

Minimum Education Requirement: Master's degree in related field or equivalent work experience

The AMGQS Banking Book Team is responsible for developing new alternative models across the Wholesale and Consumer business for multiple product lines, as well as maintenance and upgrades to the existing portfolio. The team has a requirement for a highly-motivated Quantitative Finance Analyst to join the team to support the enhancements to existing models and the building of new innovative model in the Wholesale and Consumer segment. The right candidate will be required to contribute across the full spectrum of model development lifecycle tasks and will be important to the successful delivery of models in this space. In addition the right candidate will be needed to contribute more broadly to the regulatory driven suite of alternative models developed by the team across the Wholesale and Consumer business.

• Required to pro-actively seek out effective statistical estimation techniques required to model credit risk across our mortgage business Wholesale and Consumer loss forecasting models
• Pro-actively work with stakeholders across the mortgage business to collect requirements and then develop and build modelling solutions to meet them
• Implement the model using well written and well governed python code
• Produce clear and coherent technical documentation for internal and regulatory purposes
• Promote the adoption of, and personally meet, GRA best practices for model development, implementation and monitoring
• Critical to the role is to be able to think outside the box of current industry standards to develop innovative approaches to modelling problems

Required Skills:
• Highly numerical degree (Masters required; PhD level desirable) in Statistics, Financial Mathematics, Applied Mathematics, Economics, Physics or Engineering
• 2+ years of experience in developing, documenting & maintaining risk and/or capital models and handling large datasets
• Technical skills: Statistics, Probability Theory, Econometrics, Financial Mathematics
• Strong programming skills; SQL, Python, VBA, Latex
• Strong technical writing and clear verbal communication skills
• Experience of, and ability to work under pressure and deliver to tight deadlines
• Ability to work independently, multitask and properly prioritize work
• Curiosity and willingness to develop and work on new ways of modelling

Desired Skills:
• Experiences in the areas of credit risk modelling, loss forecasting etc. preferred
• Knowledge of regulatory guidelines including CCAR, DFAST, CECL, ICAAP.
• Strong stakeholder engagement skills with an ability to work with colleagues in other functions (business, risk and model validation)
• Organized, practical and execution focused with some project management experience
• Self-motivated and intellectually curious about both the role, supporting technologies and the wider bank
• Experience with LaTeX

Shift:
1st shift (United States of America)

Hours Per Week:
40

Pay Transparency details

US - NJ - Jersey City - 525 Washington Blvd (NJ2525)

Pay and benefits information

Pay range

$88,800.00 - $150,000.00 annualized salary, offers to be determined based on experience, education and skill set.

Discretionary incentive eligible

This role is eligible to participate in the annual discretionary plan. Employees are eligible for an annual discretionary award based on their overall individual performance results and behaviors, the performance and contributions of their line of business and/or group; and the overall success of the Company.

Benefits

This role is currently benefits eligible. We provide industry-leading benefits, access to paid time off, resources and support to our employees so they can make a genuine impact and contribute to the sustainable growth of our business and the communities we serve.