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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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