- Act as the centralized primary representative for Credit Risk in the ongoing model ownership responsibilities of all Credit Risk Models associated with Basel, CECL, CCAR and the internal quarterly stress testing.
- In performing this role, responsibilities will include:
- The identification of model and data limitations / weaknesses / gaps in coverage, which are either self-identified based upon performance or new business, recognized as part of the model validation process or identified as part of an ongoing assessment against regulatory expectations,
- The centralized prioritization of such issues based upon a risk/impact based approach,
- The coordination of required remediation activities amongst key stakeholders, and,
- The inclusion of identified risks not captured within the scenarios/models in the internal risk identification processes, having developed an appropriate and granular taxonomy to accurately classify and define materiality of any issue.
- This will necessarily involve the development and maintenance of strong working relationships with key stakeholders:
- Credit Risk Sector / CCAR / Surveillance Leads who use the model suite on a BaU basis, and who will provide qualitative input to the model performance and suitability as part of the ongoing monitoring program, in addition to the quantitative KPI metrics produced by both Credit Risk Governance and the Risk Analytics team.
- Risk Analytics team, who are responsible for model development across the full spectrum of the Credit Risk model inventory.
- Change Agency Team, who manage the prioritization and deployment schedule, along with the IT department, for the Credit Risk model suite.
- Scenario Design team, who design and expansion stress scenarios for relevant enterprise programs
- Master's degree, prefer PhD, in a quantitative field such as Economics, Statistics, Mathematics, Finance or equivalent
- 15+ years of experiences of industry experience in analytics, quantitative modeling and credit risk
- Background in econometric modeling, time series, optimization, and advanced statistical technique.
- Demonstrated experiences working with credit risk and model development teams
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Credit Risk Manager - Boston, United States - State Street Corporation
Description
What you will be responsible forAs Credit Risk Manager (Enterprise Programs) you will:
$140,000 - $222,500 Annual
The range quoted above applies to the role in the primary location specified. If the candidate would ultimately work outside of the primary location above, the applicable range could differ.
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