Who We Are

Cross River is a highly profitable fast-growing financial technology company recognized for the third year in a row by CB Insights as one of the 250 best global fintechs. Our comprehensive suite of innovative products powers financial solutions with a strong focus on regulatory compliance for our partners and their millions of consumers around the world.

We are on a mission to build the infrastructure that propels access, inclusion and the democratization of financial services. While our company has tripled in size over the last three years, our strong sense of purpose led Cross River to be named to American Banker’s list of Best Places to Work in Fintech for the last 4 consecutive years. The reason for this success is simple --- our nimble, adaptive, and collaborative family culture lives in every member of our growing team. Together we are at the forefront of technology and innovation in financial services and we invite collaborative and motivated high performers to join our rapidly expanding team.

What we’re looking for

We’re looking for a mature, organized and self-driven individual to join our In-Business Risk Unit within the Quantitative Strategies Group as a Manager. The Quantitative Strategies Group is responsible for researching and developing cutting edge mathematical models to enable the fintech capital markets and strategic direct lending businesses.

 What You’ll Do

• As a key member responsible for overall functioning of In Business Risk unit, you will lead all risk model/tool development and management, lead all second and third line liaisons, work closely with other model developers and model owners to ensure model 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.
• 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.
• Own monthly production run for regulatory processes in relation to Allowance, reserving, stress testing etc. Build ad-hoc analytics and presentations as required - thereby participating in building, enhancing and delivering credit regulatory analytics solution needed for Valuation, CECL, Stress Testing etc.
• Participate in validation discussions with MRM including iterating on validation findings and proposed resolutions.
• Act as primary touchpoint for Financial Governance, Internal Audit and External Audit functions and lead the group through audit exams.

Education and Experience

• Strong quantitative & analytical skills: The role requires a strong quantitative background (PhD /Master Degree or equivalent) in Statistics, Mathematics, Operations Research, Physics, or a quantitative science
• Minimum 4+ years prior experience in Model Development or Model Validation. Experience with Credit risk models and experience in model validation is preferable. Past experience working in a Model Risk Management function or a Model Risk Oversight function is a definite plus. Understanding of capital markets, securitizations, consumer credit products a plus.
• Strong communication skills: Verbal and Written, as well as excellent negotiation and diplomacy skills required. Risk and control mindset: Ask incisive questions, assess materiality of issues and escalate as required.
• Broad knowledge of relevant Modeling frameworks and standards. Sound project management /organizational skills: flexible, adaptable to shifting priorities to achieve the most effective result and able to work in a fast-paced, results driven environment is required.

Salary Range: $170,000 - $200,000

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