Full-Time
Director of Model Development
"Provides technology infrastructure for financial services"
$150,000 - $200,000
Senior
Edgewater, NJ, USA
- Significant experience with credit modeling including credit scoring and roll rate models, logistic regression and general techniques and methodologies to generate forward-looking probability of default (PD), Loss Given Default (LGD) and Exposure at Default (EAD) under different economic scenarios; and / or
- Familiarity with of consumer bureau data and scoring models, and with (retail) consumer models, preferably models for unsecured installment loans, including machine learning models
- Knowledge of SQL, SAS, Python, VBA or other programming languages; familiarity with AWS
- Strong verbal and written communication skills and ability to communicate technical information to non-technical audiences
- BA/BS Degree in a quantitative discipline (e.g., Finance, Economics, Operational Research, Statistics, Data Science, advanced degree preferred
- At least 7-10 years' experience in risk management at a bank or credit union, fintech organization
- Experience as a Model Developer, and as a Model Validator preferred
- Knowledge of Moody's RiskCal and CMM model preferred
- Results oriented, ability to meet deadlines, and strong attention to details
- Integrity, ability to work independently, and strong problem-solving skills
- Exceptional collaboration skills and a desire to work as part of a high-performance team
- Accountable for development of Risk Rating, CECL and Stress Testing models
- Document model development process in accordance with the regulatory guidance (SR 11-7, OCC 2011-10) and internal Model Risk Policy and Procedures
- Development On-going Monitoring plan and perform annual validation to ensure models performs as expected
- Work with Model Risk Management to address any outstanding findings
- Develop user guide to ensure model is being used as intended
- Ensure any Regulatory, and Audit issues are effectively remediated on a timely basis
- Work with Model Risk Management to assign a proper risk tier to adequately and accurately captured the risk of the model
Cross River Bank stands out as a leading workplace due to its robust technology infrastructure that powers the future of financial services, offering a unique competitive advantage in the industry. The company's proprietary real-time banking core enables it to deliver scalable embedded payments, cards, and lending solutions to millions, demonstrating its technical innovation. Furthermore, its leadership in faster payments and commitment to financial inclusion, as evidenced by its provision of FedNow to extend faster payments reach, showcases its industry leadership and commitment to reshaping global finance.
Company Stage
Series D
Total Funding
$987M
Headquarters
Fort Lee, New Jersey
Founded
2008
6 month growth
↑ 0%1 year growth
↑ 3%2 year growth
↑ 26%Benefits
Generous parental & leave policies
Completely subsidized health, dental, & vision insurance
Complimentary dry cleaning
On-site haircuts
Endless snacks
Company events