Manager Credit Risk Modeling
Apply NowCompany: Teachers Federal Credit Union
Location: Hauppauge, NY 11788
Description:
Description
Join Our Team
For over 70 years, Teachers Federal Credit Union has been committed to guiding members toward building a strong financial foundation today for a better tomorrow. Named one of America's Best-In-State Credit Unions by Forbes Magazine in 2022, Teachers has grown into one of the leading credit unions in the United States. As we broaden our national reach, we will continue to ensure that Teachers is a Best Place to Bank and a Best Place to Work. Teachers offers a variety of exciting career opportunities ranging from part-time and full-time staffers to executive leadership roles.
Summary:
This role will oversee the development, implementation, and maintenance of credit risk models for the credit union. This role will involve leading a team of quantitative analysts, ensuring compliance with regulatory requirements and supporting strategic decision-making processes. This team is responsible for specialized credit risk analysis, the related monthly CECL production process for calculating and reporting the allowance for credit losses as well as developing credit stress testing models. The role involves understanding loss forecasting models and communicating to stakeholders the drivers of credit risk and credit losses. The Manager provides advanced analytical expertise to manage the development, validation, monitoring, reporting and documentation of the process. The role will be part of the Treasury team and will collaborate with other functions as needed.
Education and/or Experience:
Competencies/Skills
Job Responsibilities:
Benefits of Joining the Teachers Team:
We provide a competitive compensation and benefits package that includes, but is not limited to:
The good faith range for this position is $101,000 - $135,000 annually. This range is an estimate, based on potential employee qualifications and operational needs. The salary may vary above and below the stated amounts, as permitted by applicable law.
All candidates will be subject to a background check, credit check, and drug test to determine employment eligibility.
To learn more about Teachers and to view a full list of our job opportunities please visit https://www.teachersfcu.org/about/careers
Click here to view: California Privacy Notice
#LI-KM
Join Our Team
For over 70 years, Teachers Federal Credit Union has been committed to guiding members toward building a strong financial foundation today for a better tomorrow. Named one of America's Best-In-State Credit Unions by Forbes Magazine in 2022, Teachers has grown into one of the leading credit unions in the United States. As we broaden our national reach, we will continue to ensure that Teachers is a Best Place to Bank and a Best Place to Work. Teachers offers a variety of exciting career opportunities ranging from part-time and full-time staffers to executive leadership roles.
Summary:
This role will oversee the development, implementation, and maintenance of credit risk models for the credit union. This role will involve leading a team of quantitative analysts, ensuring compliance with regulatory requirements and supporting strategic decision-making processes. This team is responsible for specialized credit risk analysis, the related monthly CECL production process for calculating and reporting the allowance for credit losses as well as developing credit stress testing models. The role involves understanding loss forecasting models and communicating to stakeholders the drivers of credit risk and credit losses. The Manager provides advanced analytical expertise to manage the development, validation, monitoring, reporting and documentation of the process. The role will be part of the Treasury team and will collaborate with other functions as needed.
Education and/or Experience:
- Bachelor's degree in finance, economics, or related field required
- Minimum 5 years' experience in financial analysis
- Experience in financial services industry along with working with financial systems preferred
- Data management experience, including ability to perform statistical analysis and mine large data sets preferred
- Knowledge of lending products preferred
Competencies/Skills
- Statistical analysis and quantitative techniques
- Able to document procedures and process flows
- Good analytical and problem-solving skills.
- Effective communication and writing skills.
- Highly attentive to details, while being able to work under pressure and deliver timely and accurate results.
- Cash Management | Financial Planning & Analysis (FP&A) | Treasury Management | Trend Analysis | Credit and Collections Software | Financial Analysis Software | CECL| ALM
Job Responsibilities:
- Lead the production process of the monthly Current Expected Credit Loss (CECL) estimation using 3rd party vendor application including data validation.
- Monitor and report on credit risk exposures and trends. Provide recommendations to mitigate potential credit risks.
- Work with senior staff to prepare monthly CECL results and detailed monthly report alongside additional executive reports for presentation in ALCO.
- Responsible for business analysis for model improvements and updates in the application and work with senior staff for review and rollout.
- Perform model backtesting, sensitivity analysis and scenario analysis along with providing support to address model validation findings.
- Provide analytical support for model validation, business reviews, audit reviews and ad-hoc requests.
- Able to analyze large data sets leveraging credit risk analytics platform to review loan pools.
- Drive automation and continuous improvement of existing processes.
- Maintain relevant policies, procedures & guidelines.
- Support development of a robust and consistent control framework that is established to meet the expectations of auditors/regulators.
- Support the Treasury team in other functions as required.
Benefits of Joining the Teachers Team:
We provide a competitive compensation and benefits package that includes, but is not limited to:
- Paid time off for vacation, personal days, and holidays
- Fully-funded pension plan
- 401(k) company contribution
- Teachers pays 100% of Dental & Vision premium
- Tuition reimbursement is offered to full-time employees
- Exclusive employee discount of 0.96% APR on credit card loans and a 1.00% APR on all other loans through Teachers
The good faith range for this position is $101,000 - $135,000 annually. This range is an estimate, based on potential employee qualifications and operational needs. The salary may vary above and below the stated amounts, as permitted by applicable law.
All candidates will be subject to a background check, credit check, and drug test to determine employment eligibility.
To learn more about Teachers and to view a full list of our job opportunities please visit https://www.teachersfcu.org/about/careers
Click here to view: California Privacy Notice
#LI-KM