PenFed Credit Union
Senior Data Scientist, Credit Risk Modeling
At a glance
Location: US-NY-New York Map
Posted: 07/30/2021
Closing: 08/29/2021
Degree: Graduate Degree
Type: Full-Time
Experience: Not Specified
PenFed Credit Union
Job description

Are you looking to take your career from good to great? As an employee of PenFed, every day is an opportunity to thrive, and be part of a team working to ensure our organization is providing world class service to our members, employees, and our communities. We exist to help our members realize their full potential, educate and encourage their dreams, and make every effort to follow our mission and help our members “do better.” Joining PenFed is more than being an employee; it’s about being a part of the PenFed family.

 

PenFed is hiring a Remote Senior Data Scientist, Credit Risk Modeling. The primary purpose of this job is to develop and implement advanced analytics solutions and processes used to minimize risks on the organization. The incumbent will develop, review, and validate, and design quantitative risk models.



Responsibilities

Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions. This is not intended to be an all-inclusive list of job duties and the position will perform other duties as assigned. 

  • Lead interaction with and advising Management of regarding credit risk issues; formulates product strategy recommendations and evaluates the risk in the overall loan portfolio.
  • Conduct autonomous end-to-end more complex statistical model creation, including but not limited to identifying objectives, compiling data, sampling/prepping data, feature selection, model comparison/selection, deployment, and monitoring. Ensures adequate internal control processes around model development, implementation and validation are established.
  • Develop, monitor, and maintain risk models using advanced machine learning and statistical method. Research and recommend new approaches/algorithms to identify relationships among complex data and implements model changes to improve model performance.
  • Understand the trends within consumer and commercial loans portfolio, their impact on model implementation design and performance, and develop timely approach to address changes; Develop necessary analytics and processes during model implementation and forecasting process to provide production support and resolution.
  • Establish consistent and robust model implementation processes across models with effective review and controls.
  • Communicate design and results of model’s development and implementation to a variety of audiences, including senior management, bank supervisors, internal validation, Internal Audit and line of business credit and finance end users.
  • Apply intermediate to advanced knowledge of financial processes and procedures, and routine modeling theories and techniques to create effective modeling solutions for a single or multiple business functions.
  • Build credit loss estimation models for the loan portfolios to support Allowance for Credit Loss (ACL), Capital Planning and Stress Testing (CPST), including preparations for Current Expected Credit Loss (CECL). 
  • Maintain documentation for key processes and model components across the team with focus on standardization of processes; Engage model development teams, model production, and forecasting/model production team/users to develop consistent model implementation and process capabilities.
  • Participate in regular interactions with various stakeholders to enhance model implementation processes and translate requirements into integrated forecasting process/tools for effective consumption.
  • Assist management with maintaining PenFed’s compliance with all applicable federal, state, and local laws, regulations, and ordinances by abiding by PenFed compliance program and all policies, procedures, rules, and regulations 
  • Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions. This is not intended to be an all-inclusive list of job duties and the position will perform other duties as assigned. 
  • Lead interaction with and advising Management of regarding credit risk issues; formulates product strategy recommendations and evaluates the risk in the overall loan portfolio.
  • Conduct autonomous end-to-end more complex statistical model creation, including but not limited to identifying objectives, compiling data, sampling/prepping data, feature selection, model comparison/selection, deployment, and monitoring. Ensures adequate internal control processes around model development, implementation and validation are established.
  • Develop, monitor, and maintain risk models using advanced machine learning and statistical method. Research and recommend new approaches/algorithms to identify relationships among complex data and implements model changes to improve model performance.
  • Understand the trends within consumer and commercial loans portfolio, their impact on model implementation design and performance, and develop timely approach to address changes; Develop necessary analytics and processes during model implementation and forecasting process to provide production support and resolution.
  • Establish consistent and robust model implementation processes across models with effective review and controls.
  • Communicate design and results of model’s development and implementation to a variety of audiences, including senior management, bank supervisors, internal validation, Internal Audit and line of business credit and finance end users.
  • Apply intermediate to advanced knowledge of financial processes and procedures, and routine modeling theories and techniques to create effective modeling solutions for a single or multiple business functions.
  • Build credit loss estimation models for the loan portfolios to support Allowance for Credit Loss (ACL), Capital Planning and Stress Testing (CPST), including preparations for Current Expected Credit Loss (CECL). 
  • Maintain documentation for key processes and model components across the team with focus on standardization of processes; Engage model development teams, model production, and forecasting/model production team/users to develop consistent model implementation and process capabilities.
  • Participate in regular interactions with various stakeholders to enhance model implementation processes and translate requirements into integrated forecasting process/tools for effective consumption.
  • Assist management with maintaining PenFed’s compliance with all applicable federal, state, and local laws, regulations, and ordinances by abiding by PenFed compliance program and all policies, procedures, rules, and regulations 



Qualifications

Equivalent combination of education and experience is considered.

  • Ph.D. or Master Degree in a quantitative discipline is required.
  • Minimum of four (4) years of related work experience in building statistical models and advanced data analysis.
  • CCAR/CCEL modeling experience is required.
  • Applied experience with Logistic Regression, Linear Regression, Time Series Analysis, Decision Trees, and Cluster Analysis.
  • Advanced programming skills to include knowledge of statistical programs (e.g. SQL, SAS, Python, and R).
  • Ability to manage multiple projects simultaneously and implement rapid changes in project direction.
  • Proven project management skills.
  • Excellent oral and written communication skills required
  • Demonstrate strong data analysis skills, ability to understand underlying data and complex loss/balance forecasting models, various product features, possess organizational and prioritization skills, as well as strong attention to detail. This role is highly dynamic and will require critical thinking using both analytical and tactical approach to problem solving within the Quantitative Modeling team.
  • Detail oriented, results driven, and has the ability to navigate in a quickly changing and high demand environment to develop solutions while balancing multiple priorities.
  • Ability to interact effectively with team members across the management team, Lines of Business (LOB), credit officers, finance, model governance, oversight, validation, and audit organizations.

Work Environment

While performing the duties of this job, the employee is regularly exposed to an indoor office setting with moderate noise.

*Most roles require working in an office setting with moderate noise and the ability to lift 25 pounds.*

 

Travel

Ability to travel to various worksites and be on-call is required.

 

Special Message Regarding COVID 19

PenFed is continuing to hire and train exceptional individuals to help us serve our 2 million members both here and around the world.  In light of the current situation with novel coronavirus (COVID-19), we have modified our hiring, onboarding, training, and deployment protocols in order to comply with current local and state guidance around social distancing.



About Us

Established in 1935, PenFed today is one of the country’s strongest and most stable financial institutions with over 2 million members and over $26 billion in assets. We serve members in all 50 states and the District of Columbia, as well as in Guam, Puerto Rico and Okinawa. We are federally insured by NCUA and we are an Equal Housing Lender. We are available to members worldwide, via the web, seven days a week, twenty-four hours a day.

 

We provide our employees with a lucrative benefits package including robust medical, dental and vision plan options, plenty of paid time off, 401k with employer match, on-site fitness facilities at our larger locations, and more.

 

Equal Employment Opportunity

PenFed management will maintain and observe personnel policies which will not discriminate or permit harassment or retaliation against a person because of race, color, creed, age, sex, gender, gender identity, gender expression, religion, national origin, ancestry, marital status, military or veteran status or obligation, the presence of a physical and/or mental disability or medical condition, genetic information, sexual orientation, and all statuses protected by applicable state or local law in all recruiting, hiring, training, compensation, overtime, position classifications, work assignments, facilities, promotions, transfers, employee treatment, and in all other terms and conditions of employment. PenFed will also prohibit retaliation against individuals for raising a complaint of discrimination or harassment or participating in an investigation of same.

 

PenFed will also reasonably accommodate qualified individuals with a disability so that they can apply for a job or perform the essential functions of a job unless doing so causes a direct threat to these individuals or others in the workplace and the threat cannot be eliminated by reasonable accommodation or if the accommodation creates an undue hardship to PenFed. Contact human resources (HR) with any questions or requests for accommodation at 240-224-4256.

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Senior Data Scientist, Credit Risk Modeling