Posted:
8/12/2024, 5:00:00 PM
Location(s):
New York, New York, United States ⋅ New York, United States
Experience Level(s):
Senior
Field(s):
AI & Machine Learning ⋅ Data & Analytics
Reporting to the Director of Credit Risk Modeling, this role will lead and manage a quantitative modeling group within Commercial Credit space to support data, systems and modeling needs of Commercial Risk Rating models (Scorecards, Behavioral, etc) utilized for credit risk management or other enterprise initiatives. This role may also support model development initiatives in the loss forecasting, CCAR (Comprehensive Capital Analysis and Review)/stress testing and economic capital practices. Directs daily and long-range strategic direction of the group to support business initiatives and regulatory compliance.
The Commercial Scorecard group is a critical component of the Credit Risk Management Framework Risk Ratings are utilized in many areas of the bank and are a key driver of many enterprise level decisions such as the level of the Allowance for Loan and Lease losses, determining levels of Approval Authority and Asset Quality Metrics. This role is highly technical/quantitative in nature and requires strong attention to detail, execution and follow-up on multiple initiatives within Credit. The ability to identify, analyze, rationalize and communicate complex business problems and recommend solutions is a key factor of success in this role. Success in this role requires the ability to use analytics in a collaborative effort across multiple functions and products to derive optimum solutions to business problems. This position interacts with most business and functional areas of the Bank, as well as with vendors, risk management consultants and supervisory bodies. The position also has occasional informational/educational meetings with internal and external customers. The position communicates with executive management and regulatory bodies on all matters related to scorecard and behavioral modeling and possibly loss forecasting andstress testing areas to ensure their awareness of significant issues. Further, the position actively participates in risk governance committees as assigned.
Direct management responsibility for 3– 10 Quantitative Credit Risk Management Analysts and Modelers. May have direct management responsibility for other Quantitative Risk Managers
Bachelors’ degree and a minimum of 11 years’ related experience, or in lieu of a degree, a combined minimum of 15 years’ higher education and/or work experience, including a minimum of 11 years’ related experience
Minimum of 4 years’ managerial experience
Strong understanding of quantitative analysis, econometric modeling, statistics, related mathematics and commercial bank balance sheet management
Advanced knowledge of risk analytics including development, implementation and use of all relevant technologies/methodologies within an operations and regulatory compliant framework
Strong quantitative skills
Strong model development skills
Strong financial skills
Strong economic skills
Strong statistical skills, including statistical programming and data structures
Knowledge of banking products and behaviors related to credit, interest rate risk, liquidity risk, stress testing and economic capital management
Excellent verbal and written communications skills
Strong cross-functional collaboration skills
Strong leadership skills
Strong presentation skills
3+ years of experience in developing sophisticated modeling framework based on cutting-edge / next-gen techniques (ML, Python, PySpark, R)
Strong understanding of quantitative analysis, econometric modeling, statistics, related mathematics and commercial bank ratings framework
Advanced knowledge of risk analytics including development, implementation and use of all relevant technologies/methodologies within an operations and regulatory compliant framework
Track record of gathering, matching, and processing large data sets across continuous/categorical (structured or unstructured data)
Knowledge of model development and governance standards across the banking sector, especially as related to credit card and consumer lending (SR11-7, OCC 11-12)
Excellent verbal and written communications skills, cross-functional collaboration skills, leadership skills and presentation skills
PhD in Mathematics, Statistics, Quantitative Analysis or another technical discipline is a plus Financial Risk Manager (FRM) or Chartered Financial Analyst (CFA)
Proven track record for being able to work autonomously and within a team environment
Strong desire to learn and contribute to a group
M&T Bank is committed to fair, competitive, and market-informed pay for our employees. The pay range for this position is $197,292.36 - $328,820.60 Annual (USD). The successful candidate’s particular combination of knowledge, skills, and experience will inform their specific compensation.Website: https://mtb.com/
Headquarter Location: Buffalo, New York, United States
Employee Count: 10001+
Year Founded: 1856
Industries: Banking ⋅ Consulting ⋅ Credit ⋅ Financial Services ⋅ Insurance