Job description
Quantitative Risk Mgmt Off, Model Val - TIAA Bank
The Quantitative Risk Management Officer develops and implements global risk quantitative and analytic models to support efforts to minimize risk. As a subject matter expert in quantitative risk management department, this job performs independent validations of models covering a wide range of financial, economic and actuarial instruments.
Key Responsibilities and Duties
The Quantitative Risk Management Officer develops and implements global risk quantitative and analytic models to support efforts to minimize risk. As a subject matter expert in quantitative risk management department, this job performs independent validations of models covering a wide range of financial, economic and actuarial instruments.
Key Responsibilities and Duties
- Develops and validates risk models and researches new models to identify relationships among complex data.
- Assesses risk models' theoretical and conceptual soundness and reviews appropriateness of assumptions.
- Identifies model limitations, underlying model risk drivers and assesses overall model risk levels.
- Ensures that models are fit for the intended purpose in the business context and that model users are aware of the models' strengths and limitations impacting their decisions.
- Monitors and ensures business does not take on excessive levels of risks and recommends way to control or mitigate risks.
- Documents the review of risk models as well as any recommendations on improvements.
Educational Requirements
- Bachelor's Degree Required
Work Experience
- 5+ Years Required; 7+ Years Preferred
Physical Requirements
- Physical Requirements: Sedentary Work
Career Level
8IC
Required Qualifications:
- 5+ years of previous hands-on modeling experience/model validation
- Bachelor’s degree
Preferred Qualifications:
- 7+ years of previous hands-on modeling experience/model validation
- Graduate Degree in Financial Math/Stats/Math/Physics/Engineering
- The main area of focus for this search is Mortgages/Structured Finance/CRE
- Modeling experience with any area(s) among Interest Rate, Market and Credit Risk (including Credit Underwriting), Asset Liability Management, CECL is a big plus
Actual base salary may vary based upon, but not limited to, relevant experience, time in role, base salary of internal peers, prior performance, business sector, and geographic location. In addition to base salary, the competitive compensation package may include, depending on the role, participation in an incentive program linked to performance (for example, annual discretionary incentive programs, non-annual sales incentive plans, or other non-annual incentive plans).
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Company Overview
TIAA Bank, a division of TIAA, FSB, provides nationwide banking services to consumer and commercial clients through a variety of channels, including online and mobile applications, as well as its Florida-based financial centers.
TIAA has entered into a definitive agreement to sell TIAA Bank to new investors with extensive experience in financial services, as part of the company’s strategy to refocus on its core retirement business and Nuveen, the company’s asset manager. When the transaction is complete, in 2023, TIAA will retain a non-controlling stake in the bank, demonstrating the company’s confidence in the bank’s future success.
Benefits and Total Rewards
The organization is committed to making financial well-being possible for its clients, and is equally committed to the well-being of our associates. That’s why we offer a comprehensive Total Rewards package designed to make a positive difference in the lives of our associates and their loved ones. Our benefits include a superior retirement program and highly competitive health, wellness and work life offerings that can help you achieve and maintain your best possible physical, emotional and financial well-being. To learn more about your benefits, please review our
Benefits Summary
.
Equal Opportunity
We are an Equal Opportunity/Affirmative Action Employer. We consider all qualified applicants for employment regardless of age, race, color, national origin, sex, religion, veteran status, disability, sexual orientation, gender identity, or any other protected status.
Read more about the Equal Opportunity Law
here
.
Accessibility Support
TIAA offers support for those who need assistance with our online application process to provide an equal employment opportunity to all job seekers, including individuals with disabilities.
If you are a U.S. applicant and desire a reasonable accommodation to complete a job application please use one of the below options to contact our accessibility support team:
Phone: (800) 842-2755
Email:
accessibility.support@tiaa.org
Privacy Notices
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