Director of Model Development
Updated on 5/15/2023
Edgewater, NJ, USA
Experience Level
  • 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

501-1,000 employees

Financial technology infrastructure solutions
  • Generous parental & leave policies
  • Completely subsidized health, dental, & vision insurance
  • Complimentary dry cleaning
  • On-site haircuts
  • Endless snacks
  • Company events
Company Core Values
  • Authentic
  • Purposeful
  • Responsible