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CIT-AVP, Risk Strategy Analyst

Company: First Citizens Bank
Location: Morristown
Posted on: June 23, 2022

Job Description:

Overview:CIT Bank is now a division of First Citizens Bank. The Risk Strategy Analyst will be responsible for developing and implementing digitally driven credit risk management strategies. The individual will be a key member of the Automated Decisions team responsible for the strategic vision of automated decision making and digital risk management strategies to transform the way small businesses access financing.
The individual will work with cross-functional teams, including business development, sales, credit, IT, model development and model governance functions, to develop and drive innovative digital lending strategies, influence strategic decisions, and identify new opportunities through the application of leading-edge analytical techniques. The individual will have highly developed analytical capabilities with the ability to translate data and analysis into business opportunities and deliver insights to drive optimized growth strategies that are balanced against risk.Responsibilities:

  • Develop, implement, and monitor risk strategies to optimize performance across the credit life cycle including automated credit underwriting, risk-based pricing, credit limit assignment, customer identify verification and fraud control based on a highly data-driven assessment of probability of default and risk
  • Design A/B tests to help understand risk return tradeoffs using hypothesis testing frameworks
  • Facilitate the creation of information dashboards to track key performance metrics resulting from strategies implemented and summarize and present findings to senior management
  • Use advanced analytical techniques to mine loan performance data and identify pockets of underperformance and conduct root cause analysis to help recommend risk mitigation strategies
  • Uncover credit expansion opportunities to optimize risk-adjusted returns
  • Continuously assess the value of existing and potential new data sources used in the credit decisioning process including the value of non-traditional data sources
  • Support direct marketing and sales campaigns with risk-based qualification analytics and recommendations
  • Partner closely with model development data scientists to monitor the performance of existing predictive models and plan and implement the development of new models and other defined analytical projects
  • Work closely with technology teams to ensure new strategies are implemented accurately and as designedQualifications:Basic Qualifications:
    • Bachelor's or Master's degree in a quantitative field (e.g., Applied Statistics, Data Science, Analytics, Computer Science, Math, Engineering, Operations Research or Economics)
    • A minimum of 3 years of experience as an analyst, with experience in risk, credit, or related fields in a financial services environment; specific experience in small business lending or leasing would be a plus
    • Advanced skill set and experience with analytics tools (Excel, SQL, R, Python, SAS, etc.)Other Qualifications:
      • Ability to present complex information in an understandable and compelling manner
      • Systems thinking - ability to look critically across end-to-end business processes and leverage data and analytics to find innovative ways to solve complex problems
      • Enjoys working in a collaborative environment and comfortable navigating ambiguity

Keywords: First Citizens Bank, Newark , CIT-AVP, Risk Strategy Analyst, Professions , Morristown, New Jersey

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