Senior Director, Quantitative Modeling
Company: SMB Shared Services, Inc.
Location: Newark
Posted on: January 28, 2023
Job Description:
When you join Sallie Mae, you become a champion for all
students.We're on a mission to power confidence as students begin
their unique journey. To help them plan their higher education,
successfully finish, and prepare for life after school. To help
them Start smart. Learn big.Students need guidance navigating this
important time in their life. They need someone who acknowledges
that their education path is unique. They need a partner willing to
evolve and not only meet but surpass their expectations. We're
changing. Because students need a better way.We're looking for
people who are excited to drive this transformation. To break
barriers and think of new ways to adapt, help, and create better
experiences for students-and for each other.This is where diverse
backgrounds, beliefs, and perspectives matter. It's where you're
empowered to bring your authentic self to work.Feeling your best
allows you to do your best. Our benefits take care of the whole
you-from physical and mental to financial and professional. You'll
get opportunities to further your education and career, support for
you and your family (including your pets!), paid time off to
volunteer for the things that matter to you, and more.We're
obsessed with impact and making a real difference. For us, that
means putting relationships first, asking "why not?" when tackling
challenges, and continuously learning new skills.Come do more than
join something, change something. For students, for future
generations, for the future of education.What You'll Contribute
- Sallie Mae is seeking a Senior Director of Quantitative
Modeling that will be responsible for the development and
implementation of robust statistical models with a focus on
developing custom underwriting, collections, and marketing models.
The position will require in-depth knowledge of consumer finance
product strategies relating to personal loan, private student loan
and credit card. This position will be required to execute across
all stages of model development such as data preparation, model
design, variable selection, model testing, documentation, and
validation. As a position of high visibility in the second line of
defense, the role will be part of a dynamic and fast-paced
environment and work with cross-functional teams to design, build
and implement statistical models that deliver on the company's
vision. This is a data intensive role and will require a hands-on
approach utilizing analytical and modeling tools to drive process
and strategy improvements.What You'll Do
- Lead and develop a team of statistical modelers
- Manages and develops team of statistical modelers providing
guidance where needed
- Interacts with risk partners, auditors, validators, regulators
and executive management with goal of getting models into
production
- Ensures model development deadlines are being met and remediate
any model issues in appropriate timeframe
- Manages implantation of various models and measure impact of
models on business while remediating any issues
- Statistical Model Design and Development
- Builds and maintains robust underwriting scorecards for
personal loan, private student loan and credit card
- Develops collections models, such as likelihood to pay, across
multiple consumer loan products
- Develops marketing models such as response rate, approval rate
and profitability models
- Collaborates with internal business partners from Underwriting
Strategies, Marketing & Collections to develop statistical models
which meet business needs and objectives.
- Works with internal and external risk partners to ensure all
models adhere to model risk management and regulatory
standards
- Provides thought leadership on enhancements to existing models
and opportunities to create new models in order to enhance loan
growth, mitigate risk, or increase profitability
- Ad hoc Business Support
- Works on various ad hoc quantitative, modeling, and programming
assignments.The above information is intended to describe the
general nature and level of work performed by employees assigned to
this job; it is not designed to contain or be interpreted as a
comprehensive inventory of all duties, responsibilities and
qualifications required of employees in this role.What You
HaveMinimum Education, Skills and Experience Required
- Master's Degree in Mathematics, Statistics or related
field
- 10+ years of experience in Credit Risk Management, Forecasting,
Marketing Analytics, or comparable experience
- 10+ years of experience building statistically based models
using SAS, SQL, R or comparable coding language
- 5+ years of experience in management
- In depth knowledge of loss forecasting, statistical models and
data mining techniques
- The ability to understand generally accepted accounting
principles
- Strong oral and written communication skills required to
effectively and concisely present key findings to senior
management
- Strong working knowledge in presenting quantitative data via
PowerPoint, Excel, Word, etc.
- Solid knowledge of financial services industry and the products
and services offered
- Ability to relay in-depth modeling techniques and statistical
methods to regulators and executive managementPreferred Education,
Skills and Experience
- PhDThe Americans with Disabilities Act of 1990 (ADA) prohibits
discrimination by employers, in compensation and employment
opportunities, against qualified individuals with disabilities who,
with or without reasonable accommodation, can perform the
"essential functions" of a job. A function may be essential for any
of several reasons, including: the job exists to perform that
function, the employee holding the job was hired for his/her
expertise in performing the function, or only a limited number of
employees are available to perform that function.Not the right fit?
- Let us know you're interested in a future opportunity by
clickingIntroduce Yourselfin the top-right corner of the page or
create an account to set up email alerts as new job postings become
available that meet your interest!Sallie Mae is proud to be an
equal opportunity (EEO) employer. All qualified applicants will
receive consideration for employment without regard to race, color,
religion, sex, gender, sexual orientation, national origin, age,
genetic information, gender identity, disability, Veteran status or
any other characteristic protected by federal, state or local law.
Click to view the U.S. Pay Transparency Policy.Reasonable
accommodations are available for applicants with disabilities in
all phases of the application and employment process. To request an
accommodation please call (855) 756-2007 and choose option 9. All
information you provide will be kept confidential and will be used
only to the extent required to provide needed reasonable
accommodations.
Keywords: SMB Shared Services, Inc., Newark , Senior Director, Quantitative Modeling, Accounting, Auditing , Newark, New Jersey
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