Model Development Expert

7 days ago

Boston, Massachusetts, United States Citizens Full time
About the Role

Citizens is seeking a highly skilled Data Science Leader to join our team. As a key member of our risk management department, you will be responsible for designing, developing, and implementing credit risk models that support our business objectives.

Key Responsibilities
  • Develop and maintain statistical and econometric credit risk models, including probability of default (PD), recovery/loss given default (LGD), and valuation models.
  • Collaborate with business line partners to embed and socialize these models, and provide ongoing support and maintenance.
  • Work with the independent model validation team to ensure models are approved and meet regulatory requirements.
  • Analyze consumer lending portfolio trends to support portfolio strategies and applications.
  • Draw from source systems and maintain large data sets using advanced statistical and modeling tools.
  • Maintain, review, and adhere to organization's credit policy, ensuring the integrity of underlying data and constant monitoring and validation of underlying theories and methodologies.
  • Support the implementation of models development, including third-party vendor solution tools for credit risk.
  • Prepare ad-hoc risk quantification projects at the request of management.
  • Participate in peer review sessions and maintain awareness of new advances in credit risk modeling techniques to ensure the application of best practices to CFG credit risk models.
Requirements
  • 7+ years of experience in the financial industry working with model development.
  • Prior experience in loss forecasting model development in consumer or commercial lending portfolios (consumer preferred).
  • Strong understanding of commercial banking and lending products.
  • Strong knowledge of statistical software packages, including SAS, Stata, R, and Python.
  • Background and knowledge of the FASB CECL, DFAST rules, and other banking regulations.
  • Understanding of compliance and implications of FDIC, OCC, FRB regulatory frameworks, as well as accounting standards.
Education
  • BA Degree in a quantitative field (Econometrics, Statistics, Mathematics, Operational Research, Physics) required.
  • PhD or Master's degree preferred.
Work Arrangements
  • Hybrid work arrangement: 3 days in Boston MA office, 2 remote days.
  • Hours per week: 40.
  • Work schedule: Monday-Friday.

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