What are the responsibilities and job description for the Quantitative Modeling Expert position at Cross River?
Company Overview
Cross River is a pioneering financial technology company that's revolutionizing the future of financial services. With a strong focus on innovation and scalability, our comprehensive suite of embedded payments, cards, and lending products delivers financial services to millions of businesses and consumers worldwide. As a highly profitable and fast-growing fintech company, Cross River is backed by leading investors and serves the world's most essential fintech and technology companies.
Job Description
We're seeking a mature, organized, and self-driven individual to lead our Quantitative Strategies Group as the leader of Business Risk Unit. The Quantitative Strategies Group (QSG) is a front office quant organization responsible for researching and developing cutting-edge mathematical models, tools, and strategies. As the Model Owner of all models built within QSG, you will lead all work streams related to model production and reporting, specifically processes involving CECL, Capital Stress Testing, Fair Valuation, and Financial Planning.
Responsibilities:
Requirements:
This role requires a strong quantitative background (PhD/Master's Degree or equivalent) in Statistics, Mathematics, Operations Research, Physics, or a quantitative science, with minimum 5 years prior experience in Model Development or Model Validation. Front office Experience is essential. Understanding of capital markets, securitizations, consumer credit products is a plus. Experience with Credit risk models in a Model Risk Management function or a Model Risk Oversight function is a definite plus.
Cross River is a pioneering financial technology company that's revolutionizing the future of financial services. With a strong focus on innovation and scalability, our comprehensive suite of embedded payments, cards, and lending products delivers financial services to millions of businesses and consumers worldwide. As a highly profitable and fast-growing fintech company, Cross River is backed by leading investors and serves the world's most essential fintech and technology companies.
Job Description
We're seeking a mature, organized, and self-driven individual to lead our Quantitative Strategies Group as the leader of Business Risk Unit. The Quantitative Strategies Group (QSG) is a front office quant organization responsible for researching and developing cutting-edge mathematical models, tools, and strategies. As the Model Owner of all models built within QSG, you will lead all work streams related to model production and reporting, specifically processes involving CECL, Capital Stress Testing, Fair Valuation, and Financial Planning.
Responsibilities:
- Work closely with model developers and model owners to ensure all models are in compliance.
- Responsible for authoring high-quality model documentation, designing and executing model monitoring plans, maintaining model inventory and calendar for different compliance activities like validation, finding resolutions, audit, etc.
- Act as primary touchpoint for Model Risk Management, lead all communications for the Quant group.
- Work with MRM to formulate common understanding and interpretation of regulatory guidance as they relate to models not limited to but including SR 1107, Interagency guidance, etc.
- As primary touchpoint for Credit Risk Organization, Financial Governance, Internal Audit, and External Audit functions, lead the group through audit exams.
Requirements:
This role requires a strong quantitative background (PhD/Master's Degree or equivalent) in Statistics, Mathematics, Operations Research, Physics, or a quantitative science, with minimum 5 years prior experience in Model Development or Model Validation. Front office Experience is essential. Understanding of capital markets, securitizations, consumer credit products is a plus. Experience with Credit risk models in a Model Risk Management function or a Model Risk Oversight function is a definite plus.
